EL7.AI
CryptoMedium•22 October 2026•
3 min read

Tron Stablecoin Settlements Reach $2.2126 Trillion in Third Quarter

Key Facts

1Stablecoin settlements on Tron reached $2.2126 trillion, up 5.1% from the previous quarter.
2The combined supply of USDT and USDD on the network reached $93.88 billion, up 5.5% quarter on quarter.
3Tron's share of stablecoin transfer volume stood at about 73% as of September 30, 2026.
4The rolling monthly average of active addresses reached 18 million, up 9.8% quarter on quarter.
5Average daily network fees fell 4% from the previous quarter.

Stablecoin settlements on the Tron network reached about $2.2126 trillion in the third quarter of 2026, according to a Nansen report, as transfer activity expanded. Settlement value rose 5.1% from the second quarter, when it stood at $2.106 trillion, the report said. In a measure of the network's share of transfers, a CoinDesk Research report commissioned by Tron said the network accounted for about 73% of stablecoin transfer volume as of September 30, 2026. That share covers stablecoin transfers within a view of peer-to-peer transfers in September. During the same quarter, cumulative transaction volume on Tron surpassed $30 trillion, according to the network's research report. Daily active addresses averaged 3.72 million in the third quarter, according to Nansen.

The increase in settlements coincided with the market capitalization of Tether's USDT stablecoin supply on Tron reaching a record just above $92.7 billion during the third quarter, according to CoinDesk. The combined supply of USDT and the USDD stablecoin was worth about $93.88 billion at the end of the period, according to Tron Research. That combined supply increased 5.5% from the second quarter, the same report said. In the background, total value locked on the network had reached $28.15 billion in the second quarter of 2026, according to Tron's report for that period. The report compared that with $26.00 billion in the first quarter of the year, a quarterly increase of 8.27%.

In terms of network usage, the rolling monthly average of active addresses rose to 18 million during the third quarter, according to Tron Research. That average increased 9.8% from the previous quarter, alongside the rise in settlements and combined stablecoin supply. Total network fees reached about $701.4 million during the third quarter, according to the network's report. Those fees averaged $7.62 million a day during the period, while average daily fees fell 4% from the previous quarter. As part of efforts to combat illicit flows, Tether said in a statement issued in May 2026 that the T3 Financial Crime Unit had frozen more than $450 million in illicit assets globally. The unit is a joint initiative involving Tether, Tron and TRM Labs, according to the statement, which announced the total frozen as of its release.

The third quarter also saw the Canary Staked TRX exchange-traded fund begin trading on September 9, 2026, according to Cboe's listing notice. The fund was listed under the ticker TRXS, providing spot exposure to Tron's token with net staking rewards reflected in its net asset value. The fund's prospectus filed with the U.S. Securities and Exchange Commission explains that accrued staking rewards are included in the daily net asset value calculation. The prospectus states that "accrued staking rewards will be included in the calculation of the fund's daily net asset value," specifying how those rewards are accounted for in asset value. The prospectus also explains the fund's legal status, stating that it "is not a fund registered under the Investment Company Act of 1940."