Whales Drive Record Stablecoin Activity on TRON | Weekly Whale Watch

Whales are increasingly turning to TRON for moving USDT, with on-chain data showing a record $694.54 billion in transfers during May. Nearly 60% of these transfers came from transactions over $1 million.

At the same time, USDT supply on TRON has increased by $21 billion in just six months, marking a 36% growth. With the US Treasury forecasting a $2 trillion stablecoin market by 2028, TRON’s rapid growth signals a major shift in how digital dollars move across the crypto ecosystem.

Whales Fuel Stablecoin Boom on TRON

Stablecoins are quickly gaining traction as a cornerstone of crypto adoption, with both on-chain activity and institutional interest reinforcing their growing influence.

According to CryptoQuant’s JA Maartunn:

“Stablecoins are becoming a key part of crypto adoption, a trend also seen by Circle’s recent IPO. On-chain data also shows that whales are actively using stablecoins! The chart below shows the total monthly USDT transferred on TRON. In May, it hit an all-time high: $694.54 billion. ~59% of that volume came from transactions over $1 million, totaling $411.2 billion in large transfers alone.”

This surge cements TRON’s role as the leading USDT transfer network and shows how stablecoins have become essential for large-value transactions and institutional capital flows.

USDT in TRON Transfer Analysis. Source: CryptoQuant.

At the same time, long-term projections are just as bullish.

The US Treasury forecasts that the stablecoin market could reach a $2 trillion market cap by 2028, fueled by rising institutional demand, the tokenization of real-world assets, and broader payment integrations.

TRX Benefits from Increasing Stablecoin Supply on the Network

Tron’s explosive growth in transaction volume and stablecoin activity is redefining its role in the crypto ecosystem.

In May 2025, “the Tron network’s native token, TRX, achieved a new all-time high (ATH) in monthly transfer volume,” reaching 490.3 billion tokens moved, equivalent to $121.2 billion USD at the time, according to CryptoQuant.

That lead became even more pronounced in 2025, as TRON officially surpassed Ethereum in total USDT supply and daily transactions.

That number has since climbed further, surging from $58 billion to $79 billion—an astounding 36% increase in just the first half of the year.

With over 2.4 million daily USDT transfers and $23.7 billion in daily volume, TRON is appearing as the most preferred network for stablecoin payments worldwide.

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