Tron Stablecoin Volume Exceeds XRP Activity By More Than 10 Times: Data

bitcoinistPublished on 2025-12-23Last updated on 2025-12-23

Abstract

Tron's USDT and USDC stablecoin transfer volume has surged, now exceeding the entire XRP network's activity by more than ten times, according to Glassnode data. The 90-day average for Tron's stablecoin volume stands at $24.2 billion daily, compared to XRP's $2.2 billion. This highlights Tron's significant role as a core settlement layer for stablecoins. Furthermore, stablecoins dominate overall crypto transaction volume. Combined, USDC and USDT process $192 billion daily, nearly double the volume of the top five non-stablecoin assets. USDC leads all assets at $124 billion, followed by Bitcoin ($81B) and USDT ($68B). XRP ranks sixth with its $2.2 billion volume, behind Solana and Ethereum. Meanwhile, XRP's price is trading around $1.93.

Data shows the transaction volume of USDT and USDC on Tron is now more than 10 times the transfer volume of the entire XRP network.

Tron Stablecoin Volume Is Significantly Higher Than XRP Activity

In a new post on X, Glassnode lead research analyst CryptoVizArt.₿ has discussed how stablecoin settlement on the Tron network compares against the transaction activity of XRP. Stablecoins are digital assets that have their value pegged to a fiat currency. The vast majority of this space is currently dominated by two tokens tied to the US dollar: USDT and USDC.

These cryptocurrencies are available on several blockchains, with a major one being Tron. Below is the chart shared by CryptoVizArt.₿ that shows the trend in the 90-day simple moving average (SMA) of the combined transfer volume of USDT and USDC on the network over the last few years.

Looks like the metric has been following an upward trajectory | Source: @CryptoVizArt on X

As displayed in the graph, USDT and USDC have seen their Tron volume follow a rapid uptrend during the last year, suggesting that users have increasingly been using the network for stablecoin settlements.

The 90-day SMA value of the metric is currently sitting at $24.2 billion. In the same chart, the analyst has also attached the data for the transfer volume of the XRP blockchain and from its graph, it’s apparent that the network’s transaction activity pales in comparison to the stablecoin settlement that occurs on Tron.

More specifically, XRP observes just $2.2 billion in transfers every day, a tenth of the Tron stablecoin transactions. “This reinforces Tron’s role as a core settlement layer for stablecoin liquidity,” noted CryptoVizArt.₿.

Glassnode’s official X handle has also made a post about how stablecoins compare against the major cryptocurrencies in terms of the metric.

The trend in the transfer volume of the various top cryptocurrencies | Source: Glassnode on X

As is apparent in the above chart, USDC is currently the most dominant asset in transaction activity out of the major assets with a volume of $124 billion. Bitcoin is second at $81 billion, while USDT is third at $68 billion.

Among the rest, Solana and Ethereum both beat XRP to the fourth and fifth spots with transaction volumes of $9.6 billion and $7.9 billion, respectively. BNB is just behind XRP at $1.6 billion.

The top two stablecoins combined are pulling $192 billion in transaction activity every day, which is almost twice the transfer volume that the top five non-stablecoin cryptocurrencies are witnessing. “Stablecoins have become the primary liquidity rails, while native asset transfers remain comparatively subdued,” said Glassnode.

XRP Price

At the time of writing, XRP is trading around $1.93, down nearly 2% over the last week.

The price of the coin seems to have been moving sideways over the last few days | Source: XRPUSDT on TradingView

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
aPrioriAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
comp
CompoundCOMP
mantra
MantraMANTRA
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
velodrome
Velodrome FinanceVELODROME
brev
BrevisBREV
cake
PancakeSwapCAKE
jst
JUSTJST

Related Questions

QWhat is the current 90-day SMA of the combined transfer volume of USDT and USDC on the Tron network?

AThe 90-day simple moving average (SMA) of the combined transfer volume of USDT and USDC on the Tron network is currently $24.2 billion.

QHow does the daily transfer volume of XRP compare to the Tron stablecoin volume?

AThe daily transfer volume of XRP is $2.2 billion, which is about one-tenth (or 10 times less) than the Tron stablecoin volume.

QAccording to the data, which two assets have the highest daily transfer volume among major cryptocurrencies?

AUSDC has the highest daily transfer volume at $124 billion, and Bitcoin is second with $81 billion.

QWhat role does the data suggest Tron plays in the stablecoin ecosystem?

AThe data reinforces Tron's role as a core settlement layer for stablecoin liquidity.

QWhat was the price of XRP and its weekly performance at the time of writing?

AAt the time of writing, XRP was trading around $1.93, down nearly 2% over the previous week.

Related Reads

Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn

Coldcard hardware wallet users are facing a new wave of coordinated attacks targeting a firmware flaw, with researcher Alex Thorn flagging 218 recent transactions moving approximately 389 Bitcoin from potentially impacted addresses. The attack pattern shows a high rate of transactions targeting unique victim addresses, differing from previous waves. The vulnerability, which causes affected devices to generate weaker wallet seeds, is estimated to have impacted over 1,100 wallets, leading to around $90 million in Bitcoin stolen. Thorn advises affected users who control their keys may attempt to move funds with a higher-fee transaction before the attacker's transactions are confirmed.

cointelegraph3m ago

Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn

cointelegraph3m ago

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

Bitcoin miners are capitulating as evidenced by a sustained drop in network hash rate and a record-steep 19.9% decline in mining difficulty, signaling the shuttering of unprofitable machines. However, in a significant divergence from historical patterns, the stocks of publicly traded mining companies have soared, with one major player gaining over 430% in the past year, even as BTC's price fell roughly 46%. This surge is largely attributed to these companies pivoting toward the more lucrative AI narrative. Simultaneously, miners face a structural squeeze. Daily block reward revenue in BTC terms has hit a new all-time low following the latest halving, with current dollar-denominated daily revenue around $30 million compared to a longer-term average of ~$40 million. Fee revenue remains negligible, covering less than one block's subsidy over a 28-day average and accounting for only about ten minutes of the network's daily security budget. This capitulation cycle is unique: miner stress and crypto price weakness have decoupled due to alternative revenue streams (AI), while the long-term reliance on increasing bitcoin prices to offset shrinking subsidies continues, with fee income still far from filling the impending gap.

marsbit7m ago

Bitcoin Miners Are Waving the White Flag, But Their Stocks Are Soaring

marsbit7m ago

Will the Fed Definitely Raise Interest Rates in September? How Will Crypto and U.S. Stocks Withstand the Pressure?

The market's expectation for a September Fed rate hike surged dramatically in early August, jumping from under 50% to over 80% within a week. This shift followed a contentious July FOMC meeting, where a 9-3 vote to hold rates revealed growing dissent from hawkish members advocating for an immediate hike to combat persistent inflation. The primary catalyst for this repricing is rising oil prices, driven by renewed geopolitical tensions around the Strait of Hormuz, which threaten global supply. Energy costs directly influence inflation metrics, making the upcoming July CPI report (due August 12th) a critical data point. If it shows inflation reaccelerating, the probability of a September hike will solidify. For Bitcoin and crypto assets, this is typically bearish news. Bitcoin continues to behave as a high-beta, liquidity-sensitive risk asset. A rate hike raises the opportunity cost of holding non-yielding assets and could drive capital toward money markets, pressuring crypto prices in the short term. However, historical patterns suggest that if a hike is perceived as the end of a tightening cycle rather than the start, any negative price impact may be brief. U.S. stocks, particularly crypto-linked equities like Coinbase and growth-oriented tech stocks, are also vulnerable. Higher rates increase discount rates in valuation models, putting pressure on high-multiple companies. This coincides with a pivotal tech earnings season where investor focus has shifted from massive AI capital expenditure to tangible revenue and cash flow generation. Companies with negative cash flow and weak growth narratives could face heightened volatility if borrowing costs rise in September. In summary, a September Fed hike has evolved into a mainstream market scenario. Key factors to watch are oil prices, the July CPI report, and Fed communications, which will determine the final decision and its impact on volatile crypto and equity markets.

marsbit7m ago

Will the Fed Definitely Raise Interest Rates in September? How Will Crypto and U.S. Stocks Withstand the Pressure?

marsbit7m ago

A 'Overlooked' Market Event: Joint US-Japan-South Korea Intervention, Rare US Treasury Involvement, and Bessent's Quiet 'Market Rescue'?

Summary: The United States, Japan, and South Korea executed their largest coordinated foreign exchange intervention in nearly 30 years. The action targeted depreciation pressure on the Japanese yen and South Korean won. This move is seen as a significant effort by the US to stabilize the financial markets of its key allies and prevent the spillover of risks. Key details: * Japan reportedly intervened on July 30 using approximately 8.45 trillion yen (about $52.8 billion). South Korean authorities also intervened that day, selling dollars to support the won. * Notably, the US Treasury Department intervened directly in yen markets for the first time in roughly 30 years. The New York Fed, reportedly acting on behalf of the Treasury, sold euros to buy yen via Goldman Sachs and Morgan Stanley on July 31. Analysts view the use of the euro-yen pair as a way to alleviate yen pressure without adding selling pressure to the US dollar. * Prior to the action, the New York Fed conducted "rate checks" on both USD/JPY and EUR/JPY, a newer signaling tool that falls between verbal and physical intervention. The intervention is interpreted as going beyond traditional currency stabilization. Analysts, such as Michael Hartnett of Bank of America, suggest it resembles a "Price Keeping Operation" for the AI era. The core US objectives are perceived to be: 1. Preventing rapid yen depreciation from triggering a sharp rise in Japanese government bond yields. 2. Containing financial stress from spreading across Asian markets like South Korea and Japan. 3. Reducing the risk of disorderly capital flows impacting the US bond market. This coordinated action underscores the importance of Japan and South Korea as critical partners in the US semiconductor and AI supply chain. Stabilizing their financial markets is seen as vital to mitigating risks to the broader tech industry and the US market itself. The intervention coincides with market pressures, including the KOSDAQ index hitting a low since October 2022. While seen as a move to control volatility, some analysts caution it may not fundamentally reverse existing market trends.

marsbit10m ago

A 'Overlooked' Market Event: Joint US-Japan-South Korea Intervention, Rare US Treasury Involvement, and Bessent's Quiet 'Market Rescue'?

marsbit10m ago

Will the Federal Reserve Definitely Raise Interest Rates in September? How Will Cryptocurrencies and US Stocks Bear the Pressure?

In early August 2024, market expectations for a September Federal Reserve rate hike surged dramatically, from below 50% to over 80%, driven by renewed inflation concerns. This shift followed a contentious July FOMC meeting where a 9-3 vote to hold rates revealed a growing hawkish faction advocating for an immediate hike, citing prolonged above-target inflation. The key catalyst is escalating conflict near the Strait of Hormuz, which has pushed oil prices up approximately 20% in July, threatening to reignite inflation. The next critical data point is the July CPI report on August 12th; a hot reading could solidify hike expectations. For crypto assets, particularly Bitcoin, this represents near-term pressure. Bitcoin continues to exhibit high-beta, risk-on characteristics, making it sensitive to tightening liquidity and higher opportunity costs. However, historical precedent suggests that if a hike is perceived as the cycle's end rather than its start, the negative impact may be brief, with markets quickly pivoting to anticipate future rate cuts. U.S. stocks, especially crypto-linked equities like Coinbase and high-valuation tech stocks, face amplified volatility. Higher rates increase discount rates in valuation models, pressuring growth stocks. This coincides with a pivotal tech earnings season where investor focus has shifted from massive AI capital expenditures to demonstrable revenue and cash flow generation. Companies with negative cash flows and weak growth narratives could see severe pressure if a September hike materializes, as financing costs would rise. Key indicators to watch include oil prices, upcoming inflation data, and Fed commentary at events like the Jackson Hole symposium.

Odaily星球日报10m ago

Will the Federal Reserve Definitely Raise Interest Rates in September? How Will Cryptocurrencies and US Stocks Bear the Pressure?

Odaily星球日报10m ago

Trading

Spot

Hot Articles

How to Buy TRX

Welcome to HTX.com! We've made purchasing TRON (TRX) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy TRON (TRX) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your TRON (TRX)After purchasing your TRON (TRX), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade TRON (TRX)Easily trade TRON (TRX) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

26.9k Total ViewsPublished 2024.03.29Updated 2026.06.02

How to Buy TRX

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of TRX (TRX) are presented below.

活动图片

Top Questions