USDT on TRON: $2.2tn settled in Q3

What happened

The TRON blockchain settled about $2.21 trillion in stablecoins in the third quarter of 2026, according to a report published on 21 October by the blockchain analytics firm Nansen. That is up 5.1% from about $2.11 trillion in the second quarter. Average daily settlement rose 3.9% to about $24.05 billion. As crypto.news points out, part of the quarterly increase comes from the calendar: the third quarter had 92 days, one more than the second.

The numbers behind the headline

Nansen puts the combined supply of USDT and USDD on TRON at about $93.88 billion at the end of September, up 5.5% on the quarter and 14.9% on the year. The network handled about 1.07 billion successful transactions in the quarter, or roughly 11.7 million a day, with around 3.7 million active addresses each day. TRON DAO's own research gives a slightly higher count of about 1.10 billion transactions, and crypto.news notes that neither report reconciles the two figures. Network fees for the quarter came to about $701.4 million, with the daily average down 4% from the second quarter.

What is a stablecoin, and why USDT lives on TRON

If you are asking what a stablecoin is: it is a crypto token designed to keep a steady value against a currency, usually the US dollar, although that is not guaranteed. USDT is the largest example, and much of it moves on TRON. Citing research firm Messari, crypto.news reports that USDT made up about 98.5% of TRON's stablecoin market in the second quarter. Tokens on TRON use the TRC20 standard, which is why people searching for a USDT price or a USDT to PHP rate often see "USDT TRC20" as an option.

Payments or trading? The open question

The headline number does not say what the money was used for. crypto.news stresses that the report gives no dollar breakdown separating payments from transfers linked to exchanges, and the largest labelled sources of transactions were trading platforms. The labelled counts also measure transactions, not value. One payments data point does stand out: Crypto Briefing, citing TRON DAO's Q3 report, says about $998 million of stablecoin card transaction volume ran on TRON in the quarter, 23.2% of an industry total of $4.31 billion across networks. That is the network's own figure and has not been checked independently.

Why it matters for payments

The data shows the sheer scale of dollar stablecoins moving on a single network, which is useful context for anyone comparing a crypto card or stablecoin card. But without a payments breakdown, it cannot show how much of this is remittance, shopping or a money transfer app moving funds, rather than traders shifting balances between platforms. Anyone sending USDT should also remember that blockchain transfers cannot be reversed once confirmed.

What to watch next

Watch whether future reports split payment activity from exchange flows, how supply develops in the fourth quarter, and how new US stablecoin rules, which start to apply in January 2027, affect the issuers behind these tokens.

What it means for Odix Pay users

Where it is available in your country, you can top up your Odix Pay balance with USDT or USDC on the supported networks shown in the app, including Tron (TRC20), Ethereum (ERC20), BNB Smart Chain (BEP20), Solana and others. Copy the address from the app and send only on the network shown next to it, because a transfer on the wrong network may be lost. Availability depends on your country, and fees are shown in the app. More stories in the Odix Pay newsroom.

Related guides — What are stablecoins? USDT and USDC explained · How a stablecoin card works.

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