Historically, Tron was only “the cheap network to move usdt” and not much more than that.
The use of Tron for Defi protocols, loan platforms, and so on expands.
The Tron Network, known for years as an economic route to transfer USDT, is transforming. Users are no longer limited to moving this stablcoin issued by Tether, but actively explore the ecosystem created by Justin Sun, adopting Defi protocols, loan platforms and new forms of chain interaction.
A remarkable change is observed in the management of USDT within Tron. In 2023, about 46% of the supply of this stablecoin was in centralized exchanges (CEX), but today that figure has fallen to 13% (black line) and the amount of USDT kept out of the CEX (red area) has grown substantially, according to the supplier of ON-CHAIN DATA Cryptoquant.
This indicates that more than 70,000 million dollars in USDT of the Tron network now reside outside these platformsa jump from 26,000 million two years ago. P2P transfers, trade in decentralized exchanges (DEX) and chain payments have promoted this growth, with P2P transfers that went from 5,000 million dollars a day at 2023 to 15,000 million today.
Although the out of the dex grows, centralized exchanges still handle 40% of the USDT value flow in Tron, equivalent to 10,000 million dollars per day, says Cryptoquant.
With a total supply of USDT on these platforms of about 11,000 million dollars, CEX are still key to large volume transactionsdespite the migration of funds to other uses.
USDD and Defi’s boom
The decentralized stable of Tron, USDD, reflects a similar trend. With a total supply of 520 million dollars, after reaching a peak of 563 million on July 16, only 3% (about 13 million) is in CEX, the investigation points out.
This graph shows the distribution of USDD’s total supply in the Tron network, differentiating between the amount in CEX and outside them. The red area represents the USDD outside the CEX, while the abode (barely visible at the bottom) indicates the USDD in CEX. The black line shows the percentage of the total supply found in the CEX.
Half of USDD is in Justlend, a decentralized application of loans in Tron, evidencing the growing interest in defi protocols.
This movement suggests that users seek to take advantage of tron for decentralized finances, cross -border remittances and P2P payments, instead of maintaining funds on centralized platforms.
SNSWAP leads decentralized trade
Tron’s Defi ecosystem gains traction, as cryptoics reported. SNSWAP, the main dex of the network, prosecuted more than 3,000 million dollars in monthly exchanges for 2025with a record of 3.8 billion in May.
This volume underlines how users are diversifying their activities in Tron, exploring opportunities beyond USDT transfers.
Impact on the TRX price
The price of Tron (TRX), Tron native cryptocurrency, reflects these changes. In 2023 it quoted around $ 0.07, but Since then it has risen 348%, reaching $ 0.31 today.
The growth of USDT and defi activity are one of the factors that drive this rise. In addition, the TRX price has registered sustained growth in the last 3 years, which also reflects the interest of Tron users and their ability to offer efficient financial solutions.
