TRON processed 1.10 billion transactions between July and September 2026, a 33.7% increase from the same period last year, according to the TRON DAO’s State of TRON Q3 2026 report published in mid-October. However, compared with the previous quarter, transaction counts barely moved.
Transaction and stablecoin metrics
In Q3 2025, TRON handled 0.82 billion transactions. The rise to roughly 1.10 billion marks a meaningful step up in raw activity. The network settled $2.2126 trillion in stablecoin volume during the quarter, averaging $24.05 billion per day, a 5.1% increase over the previous quarter.
The combined supply of USDT and USDD reached $93.88 billion, up 5.5% from the prior quarter and 14.9% from a year earlier.
User activity and network economics
Average monthly active addresses rose 9.8% quarter over quarter to 18 million. As of late Q3, TRON reported more than 408 million total accounts and over 15 billion lifetime transactions. Cumulative transaction volume on the network passed $30 trillion as of September 23, 2026.
Total network fees for the quarter came to $701.4 million, an average of $7.62 million per day, down 4% from the previous quarter. Total value locked, including staking, stood at $28.21 billion for the quarter.
ETF launch
The Canary Staked TRX ETF, trading under the ticker TRXS, launched on September 9, 2026. The product sits on the staked TRX side of the ecosystem rather than the stablecoin side. It arrived in the final weeks of the reporting period, so its effect on Q3 figures is limited by timing alone.
The TRON DAO’s report points to continued ecosystem integration as a contributor to rising engagement and transaction volume during the quarter.
Key takeaways
The most important signal is the split between flat transaction counts and rising settlement value. TRON did not get busier quarter over quarter in terms of raw transactions, yet it moved more stablecoin value and hosted more stablecoin supply.
The fee picture deserves attention from anyone tracking network economics. A 4% quarterly decline in fees alongside 5.1% growth in settlement volume is good news for users. Q4 will be the first full quarter with the TRXS ETF trading, which makes the next State of TRON report a cleaner test of whether that access shows up in staking and value-locked figures.
