The global stablecoin market contracted to approximately $300-310 billion by August 2026, down from a peak of $320 billion in May. Tron, however, reached a record $89.2 billion in stablecoin supply in Q2 2026, a 4.1% quarter-over-quarter increase. This growth gives Tron 28.7% of the entire stablecoin market, with $87.9 billion in USDT versus Ethereum’s $78.7 billion. Tron dominates thanks to near-zero fees, having processed $2.1 trillion in USDT transfers during Q2 2026 alone, far exceeding Ethereum for low-value transactions.
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