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09/24/2026

Tron Handles Up to $190B in Stablecoin Transfers Weekly, Transaction Fees Hit Multi-Year Lows

What happened: Tron has emerged as the dominant settlement layer for stablecoins, processing between $150 billion and $190 billion in stablecoin transfers each week and approaching 100 million weekly

Tron Handles Up to $190B in Stablecoin Transfers Weekly, Transaction Fees Hit Multi-Year Lows

What happened: Tron has emerged as the dominant settlement layer for stablecoins, processing between $150 billion and $190 billion in stablecoin transfers each week and approaching 100 million weekly transactions. Average transaction fees have dropped to roughly $0.07, a multi-year low, with USDT accounting for approximately 98.5% of Tron's stablecoin market cap. Canary Capital, whose portfolio manager Josh Olszewicz authored the analysis, recently launched the first US staked TRX ETF (TRXS) on September 9, 2026.

Why it matters: Tron's evolution from a content-distribution project to a global payments infrastructure highlights the growing role of non-Ethereum blockchains in stablecoin settlement. The network's low fees and high throughput have made it a critical backbone for USDT transactions, but its future could hinge on regulatory developments such as the GENIUS Act and the proposed Clarity Act, which may either boost or restrict demand for non-US stablecoin issuers. The analysis notes a potential conflict of interest, as Canary Capital is commercially exposed via the TRXS ETF.

Source: CoinDesk