Tron posted record second-quarter stablecoin and transaction activity, with Messari saying the network ended June with $87.9 billion in circulating USDT and a record $89.2 billion stablecoin market, helping it surpass Ethereum for USDT supply during the period. USDT accounted for 98.5% of that stablecoin market, while average daily USDT transfer volume rose 4.3% to $22.8 billion and total quarterly USDT transfers reached $2.1 trillion. Average daily transactions increased 8.7% to 11.8 million, daily active addresses climbed 11.7% to 3.6 million and fees rose 15.9% to $699.4 million, reversing a two-quarter decline after an August 2025 governance change cut the network's energy unit price. Activity weakened in other on-chain segments, with DeFi TVL slipping 1.9% to $4.4 billion and average daily DEX volume falling 21.7% to $49.3 million, while TRX supply remained inflationary as circulating supply grew by 87 million tokens during the quarter. More recent figures from Tron showed total stablecoin supply at about $91.8 billion in early August and TRC-20 USDT issuance above 91.2 billion tokens, with 75.47 million holder accounts, more than 3.5 billion cumulative transfers and total network transactions above 15 billion. The network also broadened access through Securitize's launch of Hamilton Lane's tokenized Senior Credit Opportunities Fund on Tron, exchange and custody additions for TRX, and MoonPay Trade's integration for fee payments without holding TRX.