Key Takeaways
Tron has surpassed $2B in fees, 14B transactions, and now hosts over $80B in USDT, overtaking Ethereum in stablecoin supply and daily transfers.
Tron’s [TRON] Justin Sun rang the Nasdaq opening bell on the 24th of July to mark the company’s listing. But behind the headlines and ceremony, the blockchain is hitting milestones that may matter a bit more.
The network generated over $2 billion in Cumulative Fees, processed more than 14 billion transactions, and hosts over $80 billion in USDT, surpassing Ethereum [ETH] in both stablecoin supply and daily transfer volume.
So, how has the network’s native token responded to this growing demand?
Tron fees: A steady climb
Data reaffirmed that this growth related to the Cumulative Fees milestone hasn’t come in bursts or hype cycles, but through a consistent, upward trend throughout 2024.
Source: CryptoQuant
In fact, the pattern points to sustained activity rather than short-term speculation. Since most of these fees are paid in TRX, the rising fee base directly fuels demand for the native token, too!
USDT supply outpaces Ethereum
Tron also hosts a mammoth $80 billion in USDT. More than $22 billion has been minted on Tron in 2025 alone, showing demand for cheap, fast, stablecoin transfers.
Source: CryptoQuant
This milestone not only shows the network’s growing liquidity but also has a significant lead over Ethereum, where USDT supply has grown at a slower pace.
Tron hits 14B in transactions as USDT transfers surge
Source: CryptoQuant
Tron has now processed over 14 billion transactions, with daily activity averaging 8 to 9 million — nearly double the pace seen during the last bear market.
Source: CryptoQuant
Complementing this is the dominant surge in stablecoin usage: the network also facilitates over $20 billion in USDT transfers daily, far surpassing Ethereum’s $16 billion.
TRX price reacts
Following Tron’s Nasdaq debut, TRX has shown a steady upward move on the hourly chart.
The volume profile indicated strong accumulation between $0.316 and $0.318 at press time, while CMF staying in positive territory showed sustained buying pressure.
The listing may have sparked interest, but what’s more important is the increasing utility of TRX itself.
Source: TradingView
Since most network fees are paid in TRX, growing transaction volumes and stablecoin activity naturally boost token demand.
With both hype and fundamentals aligning, TRX appears to be benefiting from more than just market sentiment.
