Tron surges in on-chain activity, dethrones Ethereum in USDT dominance

According to a new report from CryptoQuant, Tron (TRX) – a low-cost, EVM-compatible L1 blockchain – recorded a sharp rise across all on-chain activity metrics in the first half of 2025.

Transaction volume soars: Daily transfer value jumped 67% year-over-year. In May 2025 alone, Tron processed 273 million transactions among 28.7 million addresses – the highest since 2023. On average, each on-chain wallet handled more than 10 transactions.

Record network fees: In June 2025, Tron collected $308 million in transaction fees – an all-time high – while the average fee remained at just $1.18.

Strong TRX growth: Over 20 billion TRX (worth $5.4 billion) were moved in June, up 61% from June 2024. TRX price rose from $0.25 to $0.33 in 2025, marking a 33% gain.

Leads USDT market: Tron issued 80.8 billion USDT, surpassing Ethereum’s 73 billion, and saw $21 billion USDT inflows in H1 2025. On June 26, Tron processed $24.6 billion in USDT transactions – 2.7 times Ethereum’s volume.