Layer-1 blockchain TRON processed $2.21 trillion in stablecoin settlements in the third quarter of 2026, with average daily settlement volume increasing 3.9% from the previous quarter to $24.05 billion, according to a Q3 2026 report by TRON DAO. The report, titled “State of TRON: Q3 2026 – TRON Passes the $30 Trillion Mark,” also recorded a milestone during the period: the network surpassed $30 trillion in cumulative transaction volume — a running measure of the total value the network has settled since launch.

According to the report, TRON’s average rolling monthly active addresses rose 9.8% to 18 million, while stablecoin supply and total value locked continued to expand, highlighting the network’s growing role in digital-dollar transfers and on-chain payments. Stablecoins, digital tokens pegged to fiat currencies such as the US dollar, have become a core rail for cross-border transfers, trading and payments on public blockchains, which is why settlement share among chains has become a competitive benchmark.

The combined supply of USDT, the dollar-pegged token issued by Tether, and USDD, a decentralized stablecoin native to the network, reached $93.88 billion during the quarter, up 5.5% from Q2 2026. Total value locked (TVL), a widely used gauge of funds deposited across on-chain protocols, including staking, stood at $28.21 billion, while decentralized finance (DeFi) value locked excluding staking reached $13.05 billion.

Network fee revenue moved in the opposite direction. Despite growth in settlement volumes and active addresses, TRON generated $701.4 million in fees during the quarter, averaging $7.62 million per day, down 4% from the previous quarter. The average transaction fee declined to $0.643 from $0.668 in the prior period.

On the institutional side, the report said the network continued to expand its payments infrastructure through integrations involving Anchorage Digital, Bitnomial, Backpack, Ethena and Ducat. Separately, Canary Capital launched its staked TRX exchange-traded fund in September 2026, providing investors with exposure to TRX, the network’s native token, alongside staking rewards — a structure that allows access through conventional brokerage accounts rather than holding and staking the token directly.

Other developments highlighted in the report included expanded wallet support, cross-chain stablecoin connectivity, and tools designed to simplify transactions for users and developers.

The figures come as blockchain networks compete to attract stablecoin transfers, payment activity, and decentralized finance liquidity, sectors where settlement speed and cost remain key differentiators. TRON has established itself as a leading settlement layer for USDT, the world’s largest stablecoin by market capitalization, and its latest data point to continued growth in stablecoin settlement and network participation — although declining fee revenue suggests that higher activity has not translated into equivalent growth in fees. How fee economics evolve alongside the expanding stablecoin footprint, and how much activity the new integrations attract, are among the developments to watch in subsequent quarterly reports.