USDT on TRON Climbs to Record $90.3B Despite Broader Stablecoin Decline

Highlights:

• TRON’s USDT supply reached a record $90.3 billion despite weakness across the wider stablecoin market.
• TRON added $2 billion in USDT last month and led all networks in yearly transfer volume.
• Stablecoins processed $8.82 trillion in real transactions during the first half of the year, with USDT contributing over half.

The supply of Tether’s USDT on the TRON blockchain has climbed to a record $90.3 billion, even as the combined supply of the two largest stablecoins has declined in recent months. Crypto analyst EmberCN shared the figures in a July 11 post on X, pointing to continued demand for TRON-based USDT in payments, transfers and financial settlements.

According to on-chain data analyst EmberCN, the total supply of USDT and USD Coin (USDC) has fallen by about $13.9 billion during the recent slowdown in the broader crypto market. USDT supply decreased by roughly $7.4 billion, while USDC supply dropped by around $6.5 billion. However, USDT supply on TRON moved in the opposite direction. The network added approximately $2 billion in USDT over the past month, pushing its total to a new high.

最近几个月，因为 Crypto 版块整体行情萎靡，USDT 跟 USDC 两大头部稳定币发行量减少了约 $139 亿：其中 USDT 减少约 $74 亿、USDC 减少约 $65 亿。

不过发行量的些许回落并没有影响稳定币在多个金融场景里的迅速增长的采用度，反倒是有了 "大浪淘沙" 的味道。
今年刚过去半年，稳定币的 ATV… https://t.co/k1DkXeZXYT pic.twitter.com/7jMZ2cDRv2

— 余烬 (@EmberCN) July 11, 2026

TRON Strengthens Its Lead in USDT Activity

TRON DAO separately announced that the circulating supply of USDT on its blockchain had exceeded $90 billion. Citing Token Terminal data, the organization said TRON leads all blockchain networks in USDT transfer volume this year, with approximately $4.2 trillion processed so far.

TRON announced that the total circulating supply of USDT on the TRON blockchain has exceeded $90 billion. The milestone further strengthens TRON’s position as a leading network for USDT activity.

According to @tokenterminal, TRON leads all networks in USDT transfer volume year… pic.twitter.com/E49GhbnDSJ

— TRON DAO (@trondao) July 9, 2026

USDT is a stablecoin designed to maintain a value close to one U.S. dollar. People commonly use it to move funds between exchanges, send money across borders and settle digital payments without relying on cryptocurrencies that can experience sharp price changes. TRON has become one of the main networks for these transactions. Its large USDT supply reflects its growing role in stablecoin transfers, remittances and payment settlements.

Stablecoin Use Grows Beyond Crypto Trading

EmberCN said stablecoin adoption continues to expand across real financial activities despite the recent decline in overall supply. According to the post, stablecoins recorded $8.82 trillion in adjusted transaction volume during the first half of the year. The metric aims to measure genuine economic transactions while removing activity that may not represent real payments or transfers.

For comparison, stablecoins recorded $10.8 trillion in adjusted transaction volume throughout the past year, when Bitcoin reached a new all-time high. USDT contributed more than half of the total volume recorded during the first six months of this year, according to EmberCN.

The analyst argued that much of the recent decline in USDT supply occurred on Ethereum. USDT on Ethereum is widely used in decentralized finance, also known as DeFi. The sector includes blockchain-based lending, trading and yield services that operate without traditional financial intermediaries.

Demand Shifts Toward Payments and Transfers

Weaker crypto market activity can reduce the amount of stablecoins used in DeFi and digital asset trading. However, demand connected to remittances, payments and settlements can continue even when speculative activity slows. EmberCN said TRON has spent years building its presence in these areas. The rise to $90.3 billion in USDT supply therefore points to steady demand for stablecoins as tools for transferring and settling value.

The figures also show that a decline in total stablecoin supply does not necessarily represent weaker adoption across every use case. Activity can move between blockchains as users choose networks based on transaction costs, speed and purpose.