TRON ended Q2 2026 as the largest network for circulating USDT, with $87.9 billion onchain and a record $89.2 billion stablecoin market cap, while processing $2.1 trillion in USDT transfers, or about $22.8 billion a day on average, according to Messari. The network finished the quarter ahead of Ethereum's $78.7 billion USDT balance and with 47.6% of tracked USDT supply, as average daily activity reached 11.8 million transactions and 3.6 million active addresses. Fees increased 15.9% to $699.4 million and average transaction cost rose to $0.65, but the staking rate slipped to 48.2%, its first decline in six quarters, while DeFi TVL fell 1.9% to $4.4 billion and average daily DEX volume dropped 21.7% to $49.3 million. Messari's report reinforced TRON's role as a low-cost stablecoin settlement network more than a broader DeFi venue, while U.S. access widened through Binance.US, Bitnomial, Anchorage Digital and Canary Capital's proposed staked TRX ETF, and the network also highlighted agentic AI and post-quantum cryptography work.