TRON’s Average Stablecoin Supply Hits Record $92.25 Billion
Key Facts
Average stablecoin supply on the TRON network reached a record $92.25 billion in the third quarter of 2026, up 4.18% from the previous quarter and 14.58% year on year, according to a Token Terminal report published by TRON DAO Research. Supply stood at $93.88 billion at quarter-end on September 30. The figures show an expansion in stablecoin balances circulating on the network during the period, while transfers and holding levels also reached records. The report thus offers a picture of stablecoin use on TRON in the third quarter. The increase alone does not prove that balances moved directly from another network.
Stablecoin transfer volume on TRON reached $2.18 trillion in the third quarter, up 4.17% from the previous quarter, the report said. The average number of stablecoin-holder addresses also reached a record 76.53 million. The two metrics combine recorded transfer volume with the breadth of addresses holding stablecoins on the network during the period. The increase in transfers from the previous quarter points to higher activity on a quarterly basis, while the holder figure reflects the level of holdings recorded in the report. The report said, "Stablecoin transfer volume reached $2.18 trillion, up 4.17% quarter on quarter, while the number of stablecoin holders hit a record 76.53 million."
Second-quarter results provide an earlier comparison for the trajectory of supply and transfers: TRON DAO said in its official report that stablecoin supply on the network reached $89 billion and settlement volume was $2.08 trillion. In the third quarter, average supply rose to $92.25 billion, while transfer volume reached $2.18 trillion. Supply figures cover different time frames: the second-quarter figure is reported supply for the period, while $92.25 billion is the third-quarter average and $93.88 billion is the level recorded at quarter-end. Third-quarter transfer volume was higher than the settlement volume cited for the previous quarter. The second-quarter report described the figures as "$89 billion in stablecoin supply and $2.08 trillion in stablecoin settlement volume."
Token Terminal defines outstanding supply as the total tokens minted, less tokens burned and those held in the treasury. Under this definition, TRON supply data measure tokens circulating on the network after those exclusions. Therefore, an increase in TRON’s average balances is not enough to prove that a corresponding amount left Ethereum or moved directly to it. The platform said the metric calculates "total tokens minted, less tokens burned and those held in the treasury." This definition sets limits on what can be inferred from comparing network supply over a single period.
On transfer access, Polygon announced on October 8, 2026, that it had added TRON to its Open Money Stack. The integration allows fiat currency to be converted into TRC-20 USDT on TRON, and vice versa. It also enables USDT routing between TRON, Polygon and other major networks, followed by payments to bank accounts, cards or wallets. Polygon said users would be able to "convert fiat currency into TRC-20 USDT on TRON, and back," as well as "route USDT across TRON, Polygon and major networks." The announcement comes amid the development of tools linking fiat currencies and stablecoins and routes for transferring them between networks.
In November 12 trading, TRX closed at $0.3158, while USDT closed at $0.99888, according to EL7 data. These prices provide a market snapshot after the end of the third quarter, while the supply and transfer figures cover the period ended September 30. The report’s data remain tied to stablecoin metrics on TRON, while the closing prices show the two assets’ trading levels on a specific day. A single day’s close does not change the period measured by the quarterly report.