TRON grew its stablecoin base and user count in the third quarter of 2026, while fees eased slightly. Combined USDT and USDD supply rose 5.5% to $93.88 billion, and monthly active addresses c
TRON grew its stablecoin base and user count in the third quarter of 2026, while fees eased slightly. Combined USDT and USDD supply rose 5.5% to $93.88 billion, and monthly active addresses climbed 9.8% to 18 million.
Network fees totaled $701.4 million, with daily fees down 4.0% from Q2. The quarter also brought the Canary Staked TRX ETF (TRXS) and a protocol upgrade that adds passkey signatures. TRON’s cumulative transaction volume passed $30 trillion during the quarter.
TRON is a public Layer 1 blockchain founded by Justin Sun in 2017. Its mainnet launched in May 2018, and TRX moved from Ethereum to TRON’s own chain the following month.
The network uses Delegated Proof of Stake (DPoS). TRX holders stake tokens to vote for 27 Super Representatives, who produce blocks and vote on network changes. The elected set updates every six hours, and blocks arrive about every three seconds.
TRON generated $701.4 million in network fees during the quarter:
Daily fees averaged $7.62 million, down 4.0% from $7.94 million in Q2. The average transaction fee fell from $0.668 to $0.643. Daily transactions rose just 0.28%, so lower fee levels, not fewer transactions, drove the dip.
TRON charges for two network resources. Bandwidth covers the data size of every transaction, and Energy covers smart contract execution. Users can get both by staking TRX. When they run out, the network burns TRX to cover the cost.
Activity held steady, while the user base widened.
Transactions And AddressesMore active addresses alongside slower address creation suggests that existing addresses were used more. These figures count addresses, not unique people.
Image: Tron Q3 Report
Combined USDT and USDD supply reached $93.88 billion, adding $4.88 billion from Q2. That is 14.9% above Q3 2025’s $81.70 billion.
Stablecoin settlement, the total value moved, reached $2.21 trillion for the quarter, up 5.1% from $2.106 trillion. Average daily settlement rose 3.9% to $24.05 billion.
Image: Tron Q3 Report
TRON’s total value locked (TVL), including staking, rose 0.2% to $28.21 billion. That was the third straight quarterly gain and 17.2% above Q4 2025’s $24.08 billion, though growth slowed from 8.3% in Q2. TVL excluding staking, or DeFi TVL, was $13.05 billion.
The largest projects by TVL were:
The network minted 360.2 million TRX and burned 234.5 million, for net issuance of 125.8 million TRX. Burns offset 65.1% of new supply. Circulating supply was about 94.9 billion TRX.
Total staked TRX slipped 0.1% to 45.71 billion. Of that, 18.87 billion went to Energy and 26.84 billion to Bandwidth. The staking ratio edged down from 48.23% to 48.16%.
Image: Tron Q3 Report
Code commits reached 654, down 4.5% from Q2 but 70.8% above Q3 2025’s 383. The average count of core developers fell 20.0% to 18.77.
Contract deployments fell 11.0% to 380,200, while deploying addresses rose 8.8% to about 11,100. Token Terminal counts deploying addresses, not individual developers.
TRON added partners across custody, trading, and payments.
Eco, STON.fi, KiiChain, and Privy also added cross-chain, payment, and wallet features.
TronScan counted 5,339 nodes across 91 countries and regions. The United States hosted 1,299 (24.33%), Germany 699 (13.09%), and Singapore 435 (8.15%). More than half of all nodes sit outside those three countries.
Poloniex led Super Representative voting with 11.42%, followed by TRONALLIANCE at 7.12% and Abra Capital Management at 6.71%. The top five held 37.1% of votes. All 27 representatives produced 99.37% to 100% of their scheduled blocks.
The quarter’s main governance vote was Proposal 107, approved by 25 of 27 Super Representatives. It activated features from the GreatVoyage v4.8.2 “Pyrrho” upgrade, bringing the TRON Virtual Machine closer to Ethereum’s execution environment.
The key addition is support for secp256r1 signatures. This lets smart contracts verify signatures created by device security systems such as Apple’s Secure Enclave and Android Keystore. Wallets can then let users approve transactions with a fingerprint or face scan, known as passkeys.
TRON ended Q3 2026 with $93.88 billion in stablecoins, 18 million monthly active addresses, and $28.21 billion in TVL. It processed $2.21 trillion in stablecoin settlement and earned $701.4 million in fees. New ETF access, institutional custody, and passkey support broadened how users and institutions can hold and use TRX.
