TRON Q3: record fees and $5.7B TVL as US access widens
TRON DAO posted a strong third quarter, with protocol fees reaching $82.7M — second only to Hyperliquid's $227M — while total value locked rose 26.6% QoQ to $5.7B, led by lending and CDP protocols at 90% of the total (JustLend: roughly $3.9B). DEX share nearly doubled from 6% to 9.5%, and crypto-card volume grew 60.5% QoQ to $2.32B, keeping TRON the largest chain in that category.
Institutional access widened with regulated U.S. exposure via a Bitnomial futures listing and the Canary Staked TRX ETF (TRXS) on Cboe BZX — the first U.S.-listed TRON product — which launched with $50M in assets. Cross-chain and developer reach expanded too: Ethena's USDe and sUSDe went live via Stargate, Eco, Symbiosis and STON.fi added TRON stablecoin routing, and OpenZeppelin's Contracts library and dev stack shipped on TRON with Hardhat, Foundry and TronBox. Anchorage and Paxos custody coverage also expanded, and TRON joined S&P Pantera's first crypto index.
Sources
- Cross-chain and developer reach also expanded: @Ethena’s $USDe and $sUSDe went live via Stargate, Eco, @symbiosis_fi and @STON_fi added @trondao stablecoin routing, and @OpenZeppelin’s Contracts library and dev stack shipped on TRON with Hardhat, Foundry and TronBox. Full report Replying to their earlier post: The ecosystem deepened alongside as TVL rose 26.6% QoQ to $5.7B, led by lending and CDP at 90% of the total. JustLend held roughly $3.9B, and DEX share nearly doubled from 6% to 9.5% as its TVL roug…x.com ↗
- RESEARCH: @trondao's institutional access widened in Q3 2026. $TRX gained regulated US exposure through a futures listing on CFTC-regulated Bitnomial and the Canary Staked TRX ETF (TRXS) on the Cboe BZX Exchange, the first US-listed TRON product, which launched with $50M in https://t.co/0msOwBfIcxx.com ↗
- The quarter also widened @trondao's institutional surface: regulated US access via a Bitnomial futures listing and the Canary Staked $TRX ETF on Cboe BZX, expanded Anchorage and Paxos custody, and inclusion in S&P Pantera's first crypto index. Chain TVL rose 26.6% QoQ to $5.7B. https://t.co/bxgVKN1CnV Replying to their earlier post: That settlement position converted into revenue as protocol fees reached $82.7M in Q3, second only to @HyperliquidX at $227M. Crypto-card volume grew 60.5% QoQ to $2.32B, with @trondao the largest c…x.com ↗
CoinDesk
