Tron led all tracked blockchains in stablecoin growth for the week ending November 3, with USDT still doing nearly all the work
Stablecoins on Tron added $256.5 million in market cap over the past seven days. That was the largest increase among tracked blockchains for the week ending November 3, 2026, according to Token Terminal.
The numbers behind the week
Tron now hosts a total stablecoin market cap of approximately $94.27 billion as of November 3, 2026, per DefiLlama.
One asset does almost all the lifting. Tether’s USDT makes up about 97.9% of Tron’s stablecoin supply.
USDT supply on the network has hit an all-time high of over $92.7 billion, according to CoinDesk.
On October 29, Tron added $279.5 million to its stablecoin market cap in a single 24-hour span, as Crypto Briefing previously reported.
A week in mid-October was even bigger, with an increase of $554.9 million. So this week’s $256.5 million is less than half that mid-month surge. It is also slightly smaller than the one-day jump on October 29.
Why Tron keeps winning the settlement game
In the third quarter of 2026, Tron settled around $2.21 trillion in stablecoins. That works out to an average of $24 billion per day.
The network accounted for 73% of total stablecoin transfers in Q3.
Tron’s share of the global stablecoin market also climbed, according to CoinDesk. It rose to 30.2% at the end of Q3 2026, up from 28.7% at the end of Q2.
The reasons are not mysterious. Tron offers low fees and fast transaction finality, which CoinDesk credits for keeping it ahead of Ethereum in stablecoin settlement volume.
What this means
With USDT representing about 97.9% of Tron’s stablecoin supply, the network’s stablecoin fortunes are heavily tied to one issuer.
Tron holds a 30.2% share of the stablecoin market but handled 73% of transfers in Q3. Its dollars appear to move far more often than they sit, which fits its reputation as a payments rail rather than a vault.
