The Tron network, known for years as an economic route to relocating USDTs, has been changing. Users are no longer limited to this Stablcoin move issued by Tether, but they are actively investigating the ecosystem created by Justin Sun, employing Defi protocols, loan platforms and new forms of chain interaction.
Significant changes have been observed in the management of USDT within Tron. In 2023, approximately 46% of this stubcoin supply was on centralized exchanges. (CEX), but today, that figure has dropped to 13% (black line), and the amount of USDT excluded from CEX (red area) has increased significantly, according to on-chain data provider Cryptocant.
This shows more than that Tron Network’s USDT $70,000 million now exist outside of these platformsa jump from 26,000 million two years ago. P2P transfers, decentralized exchanges (DEX), and chain payments have driven this growth, with P2P transfers going from $5,000 million today in 2023 to 15,000 million today.
Although it grows outside of Dex, centralized exchange amounts to 40% of Tron’s USDT value stream to $100 million per day, says Cryptoquant.
There is a total supply of USDT of around $110 million on these platforms; CEX is still the key to large volumes of transactionsdespite the shift in funding to other uses.
The USDD and Defi boom
Tron’s distributed stables USDD reflects a similar trend. After peaking at 563 million on July 16, CEX has only 3% (approximately 13 million) with a total supply of $520 million, the study notes.
This graph shows the distribution of the total supply of USDD in the Tron network, distinguishing between the amount of CEX and their outside. The red area represents the USDD outside the CEX, while the dwelling (almost invisible at the bottom) represents the USDD of the CEX. The black line shows the percentage of total supply found in CEX.
Half of the USDD is in JustLend, a decentralized application of loans at Tron, demonstrating a growing interest in the Defi protocol.
The move suggests that users will not maintain their funds on a centralized platform, but will try to use Tron for decentralized finance, cross-border remittances and P2P payments.
SNSWAP leads in decentralized trading
As reported by Cryptoics, Tron’s Defi Ecosystem gains traction. SNSWAP, network maindex, He charged more than $3,000 million in monthly exchanges in 2025It had a record of 3.8 billion in May.
This volume highlights how users diversify their activities with Tron and explores opportunities beyond USDT transfers.
Impact on TRX Prices
Tron’s native cryptocurrency, the price of Tron (TRX), reflects these changes. In 2023, I quoted about $0.07 Since then, it has increased by 348%, reaching $0.31 today.
Growth of USDT and Defi activity is one of the factors driving this rise. Additionally, TRX Price has registered sustainable growth over the past three years, reflecting the interests of Tron users and their ability to provide efficient financial solutions.