TRON stablecoin volume hits $2.21 trillion as exchange usage dominates

Nansen’s latest report highlights that TRON recorded 1.07 billion successful transactions between July and September, averaging 11.68 million per day. Binance and OKX emerged as the most active labeled entities on the network, yet the provided data offers no dollar-value breakdown to separate retail remittances from internal exchange liquidity movements. This lack of granularity complicates efforts to assess the network’s actual utility as a payment rail compared to its role as a hub for trading activity.

While TRON DAO reported $2.2126 trillion in total settlement—up from $2.106 trillion in the second quarter—the figures lack a comparative benchmark against Ethereum or Solana. Concurrently, the network saw $701.4 million in total fees for the quarter, even as average daily fees dipped by 4%. These metrics arrive alongside the September debut of Canary Capital’s staked TRX ETF, which offers investors exposure to the asset while highlighting the ongoing debate regarding institutional protections for non-registered investment products.