TRON has surpassed Ethereum as the leading network for USDT liquidity and transactions, according to a CryptoQuant report. As of 2025, TRON's USDT supply reached $80.8 billion, exceeding Ethereum's $73.8 billion. The network processes over $24.6 billion in USDT daily, more than double Ethereum's volume. TRON's growth is driven by its gasless transaction model, which now constitutes 75% of network activity. The decentralized exchange SunSwap and lending protocol JustLend have also experienced increased activity, with significant rises in swap volumes and borrowing transactions. TRON's fee revenue hit $308 million in June 2025, reflecting a maturing ecosystem. The stablecoin market supply grew from $204 billion to $252 billion in the first half of 2025, with TRON playing a pivotal role in this expansion.