Retail stablecoin boom helps send Tron active wallets to new highs

Blockchain data suggests more people are transacting on the Tron network than ever before amid strong retail adoption and the rising popularity of the high-speed, low-cost chain.

The number of daily Tron daily active addresses rose to a record 5.7 million on Tuesday — beating the previous record of 5.4 million set the day before — while the more than 12.6 million transactions clocked on Tuesday were the highest daily tally since June 12, 2023, TRONSCAN data shows.

“No headlines. No hype. Just raw throughput. Thats top-tier activity with zero fanfare,” blockchain analytics platform Nansen said in a post to X on Wednesday.

Daily Tron transaction tally over the last 180 days. Source: Nansen

Data from Nansen shows a 69% rise in daily active Tron addresses over the last week, reaching nearly 11.1 million — marking the largest week-on-week change among major blockchains.

USDT on Tron is the combo of choice for many

While Tron‘s decentralized finance ecosystem isn’t as prominent as Ethereums, it facilitates between 15-20 million Tether (USDT) stablecoin transfers weekly, making it one of the most common token and chain payment combinations in the crypto space.

Split of Tron transactions between TRX, USDT and “Other.” Source: Nansen

It is widely used in Africa, Asia and South America — allowing locals to benefit from high-speed, low-cost US dollar-pegged token transfers where real US dollar access is often limited.

Tether notched its 500 millionth USDT user on Oct. 21 — an achievement its CEO, Paolo Ardoino, said is “likely the biggest financial inclusion achievement in history.”

The World Bank Group estimates there are around 1.4 billion adults who dont have access to a bank account. Crypto is one solution to the problem, as anyone with a phone can download a crypto wallet to receive money and store funds securely.

USDT is still by far the largest stablecoin

USDT is by far the largest stablecoin, with a market cap of $183.2 billion, representing a 58.8% market share, according to CoinGecko. Circles USDC comes in next at $76.2 billion.

Ethereum is home to the most USDT in circulation at $83.4 billion, while Tron comes in second at $78.7 million, DefiLlama data shows.