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Tron has grown to become the second blockchain to Ethereum in stablecoin market share.&nbsp;
Data from Coin Metrics Network reveals that stablecoin supply on Tron stands at $61.1 billion, commanding 37.9% of the total stablecoin market share, which currently stands at $161.1 billion. This is a significant increase from a supply of $46.6 billion it held a year ago. 
Tron trails the <a href="https://cointelegraph.com/learn/what-is-ethereum-a-beginners-guide-to-eth-cryptocurrency">Ethereum</a> network, which dominates the stablecoin market supply at $89.7 billion, representing 55.7% of the total supply. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-08/ee70970d-b849-4cf3-a4ee-9091ec0a4c66.png" alt="Tron network leads in stablecoin market share amid growing monthly transfer volume">
 <figcaption style="text-align: center;">
 Stablecoin supply by network. Source: Coin Metrics Network
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Growth in the stablecoin supply on Tron coincides with an increase in transfer volume, which has grown by 5.1% over the last 30 days and 158% year-to-date to reach $58.75 billion. Other chains like Ethereum and <a href="https://cointelegraph.com/learn/a-beginners-guide-to-the-bnb-chain-the-evolution-of-the-binance-smart-chain#:~:text=The%20BNB%20token%20now%20stands,much%20like%20gas%20on%20Ethereum.">BNB Chain</a> saw year-to-date increases in volume of 103% and 46.5% respectively. Stablecoin transfer volumes on Solana have dropped by 75% over the same period. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/fe14b729-7897-416b-adc0-c93904dcc496.png" alt="Tron network leads in stablecoin market share amid growing monthly transfer volume">
 <figcaption style="text-align: center;">
 Stablecoin year-to-date transfer volumes. Source: Artemis
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Tron’s dominance is evidenced in the daily total stablecoin transfer volume, which stood at $17.4 billion on Aug. 15, dwarfing Solana’s $6.4 billion and BNB Chain’s $1.6 billion on the same day.
Related: <a href="https://cointelegraph.com/news/circle-proposes-new-capital-risk-framework-stablecoins">Circle proposes new capital-risk framework for stablecoins</a>
Moreover, the $17.4 billion in stablecoin transferred on Tron on Aug. 15 is 222% more than the $5.4 billion stablecoin transfer volume on Aug. 15, 2023.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/b8329fb4-3134-4bb3-92d8-d9c5c07f2359.png" alt="Tron network leads in stablecoin market share amid growing monthly transfer volume">
 <figcaption style="text-align: center;">
 Stablecoin transfer volumes one year. Source: Artemis
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In addition to stablecoin volumes, there has been an uptick in <a href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance#:~:text=Decentralized%20finance%20seeks%20to%20use,smart%20protocols%20in%20decentralized%20finance.">decentralized finance</a> (DeFi) activity on Tron, pushing its total value locked to $10.55 billion on March 14, 2024, its highest level ever, <a href="https://defillama.com/chain/Solana" target="_blank" rel="noopener nofollow">according</a> to data from DefiLlama. The TVL has increased by 12% since Aug. 5 to the current value of $7.617 billion.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/44adc4f6-230f-4172-8d9f-367e9286a332.png" alt="Tron network leads in stablecoin market share amid growing monthly transfer volume">
 <figcaption style="text-align: center;">
 Total value locked on Tron. Source: DefiLlama
 </figcaption>
</figure>
This has also been evidenced by the increased onchain revenues, which Tron has witnessed a significant increase in over the last year. 
Daily revenue on the Tron network increased by 27% during the year, reaching $1.5 million on Aug. 16.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/8ef34ddb-e6f7-4c1b-a52e-cb1163a089f8.png" alt="Tron network leads in stablecoin market share amid growing monthly transfer volume">
 <figcaption style="text-align: center;">
 Total revenue generated on Tron. Source: DefiLlama
 </figcaption>
</figure>
Over the same period, daily volume on Tron-based decentralized applications rose by more than 672%, from $4.61 million to $35.57 million.
The price of TRX (<a href="https://cointelegraph.com/tron-price-index">TRX</a>), Tron’s native token, has also been, rising over 80% in the last 12 months to trade at $0.133 at the time of publication. The price of the layer-1 token is now 55% from its January 2018 all-time high of $0.30.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Tron network leads in stablecoin market share amid growing monthly transfer volume

Cointelegraph

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