TRON’s Stablecoin Transfer Share Estimated at About 73% at Q3 Close

The TRON (TRX) network’s stablecoin transfer volume share was estimated at about 73% on Sept. 30, a point-in-time reading that does not establish its share across the full third quarter.

The accompanying chart labels the measure “P2P share of total stablecoin transfer volume,” but its text does not define “P2P” or explain how the estimate was calculated. Without that definition, the label does not establish which types of transfers are included. The Sept. 30 estimate is a date-specific measure, rather than a quarter-wide average.

The separate TRON’s Q3 settlement total reached $2.2126 trillion from July through September, up 5.1% from $2.106 trillion in Q2. Average daily settlement rose 3.9% to $24.05 billion from $23.14 billion. The settlement figures cover the full quarter, while the 73% estimate is tied to one date; the two measures describe different time periods and do not establish the same thing.

TRON recorded 1.0748 billion transactions during Q3 and averaged 11.68 million successful transactions per day. It also averaged 3.72 million daily active addresses over the quarter. Those figures track transaction and address activity, but they do not show the dollar value that moved or the portion attributable to any particular use.

Among labeled entities, Binance had 39.7 million transactions and OKX had 36.1 million. These counts do not show the dollar value of transfers associated with either entity. The quarterly settlement total is not divided among exchange transfers, payments and other uses, so the counts do not establish how much value came from any of those categories.

Other measures describe TRON’s stablecoin base. Its share of total stablecoin market capitalization was 30.2% at quarter-end, while Tether (USDT) on TRON reached an all-time high of just over $92.7 billion during Q3. TRON’s share of the total USDT market peaked at 50.6% in mid-September. These figures measure capitalization or market share, not the transfer volume in the 73% estimate.

The figures cover different measures: a transfer-share estimate dated Sept. 30, quarterly settlement value, transaction and address activity, and stablecoin market capitalization.