TRON overtakes Ethereum in USDT as stablecoin supply hits $92.25B

TRON has overtaken Ethereum in average USDT supply during the third quarter of 2026, as its stablecoin balances and monthly active addresses have reached record quarterly averages. Summary TRON held 49.49% of USDT across 12 tracked chains, averaging $90.75 billion during Q3. Stablecoin transfers totaled $2.18 trillion, while average stablecoin holder addresses reached 76.53 million. Monthly active addresses averaged 17.81 million, although activity eased toward the end of September. Network revenue fell 3.10% from Q2 to $693.21 million as average transaction fees declined. Token Terminal’s Q3 report, published Nov. 2 and shared by TRON DAO, puts the network’s average stablecoin supply at $92.25 billion, up 4.18% from the previous quarter and 14.58% from a year earlier. Across the chains covered by the report, average native stablecoin supply fell 2.41% quarter over quarter to $298.23 billion. TRON’s share reached 30.93%, gaining 1.96 percentage points from Q2 as its own balances grew against that decline. TRON takes the USDT lead from Ethereum Within TRON’s stablecoin total, USDT supply averaged $90.75 billion, compared with Ethereum’s $87.73 billion. The figures give TRON a $3.02 ...