Tron Handles 52% of Global Sub-$1,000 USDT Transfers
Tron handled 52% of global USDT transfers under $1,000 in Q2, became the largest USDT host and added a gasless option that enables fee-free transactions.
According to Messari’s State of Tron report, Tron accounted for 52% of global USDT transfers valued under $1,000 during the second quarter. The report covers activity in Q2 and compares on-chain holdings across smart-contract platforms.
Tron’s stablecoin market capitalization rose 4.1% from Q1 to Q2, reaching $89.2 billion. USDT made up about 99% of the stablecoins issued on the network. Tron hosted $87.9 billion in USDT in Q2, compared with $78.7 billion on Ethereum.
The network introduced a gasless transaction feature that removes the need for users to hold TRX to pay fees, allowing end users to send USDT without paying native-token gas. Messari and market participants link the feature to higher uptake in regions such as Africa and Latin America.
Among chains that issue their own tokens natively, Tron handled 52% of transfers under $1,000 in Q2. Network activity data showed an average of 11.8 million daily transactions and 3.6 million average active daily addresses in the quarter, the third straight quarter of record activity.
Tron led crypto card settlements in Q2, recording $887 million in card volume and a 34% share of that market. In Q3 tracking, the network held a 21% share of top-up volumes, with $108.5 million of $509.6 million monitored.
Alex Obchakevich, finance researcher and partner at Artemis, described the results as: ‘The extremely good results posted show the blockchain has real, non-speculative, stable demand that is monetized without subsidies and is not dependent on market cycles.’ He noted the chain has added institutional access infrastructure and launched a real-world-asset product over the past three quarters.
The report records a shift in on-chain stablecoin distribution toward payment-oriented flows rather than trading. It also documents growing infrastructure on Tron aimed at institutional participants and new asset types, alongside the rise in low-value transfers and card settlement activity.
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