TRON chain has surpassed its peers and rivals to become the second biggest in the market after Ethereum. According to data from defillama, TRON has surpassed a 33% market share in the Stabecoin market, highlighting its rise in popularity.

The rise in TRON’s market share comes at a time when the hype around Stablecoin has gained traction, making the market rise.

TRON Sees Rise in Stablecoin Market

With $59.8 billion on the chain as of September 23, Tron’s stablecoin market share reached 34.8% in the previous month. Although Tron’s stablecoin supply increased by 21.6% in 2024, its market share has decreased from 37.9% at the beginning of the year.

But since 2022, Tron’s stablecoin market has grown by 67.9%, boosting the chain’s assets by $24.2 billion. The recent issuance of Tether (USDT) is the cause of the significant increase. On Tron, USDT makes up 98.3% of all stablecoins; USDD (USDD) and TrueUSD (TUSD) make up the remaining percentage.

TRON Sees Rise In Partnerships

With an increase in market share and popularity, TRON has also seen a rise in integrations and partnerships. Recently, Chianlink had partnered TRON for the integration of services.

The integration of Chainlink’s Data Feeds as the official oracle solution for the TRON ecosystem is the result of this strategic partnership between TRON and Chainlink.

With a total locked value (TVL) of over $6.5 billion in decentralized finance (DeFi), the TRON network now has Chainlink as its sole supplier of accurate, secure, and decentralized data feeds.

TRON’s Rise Comes As Market Sees Stablecoin Popularity

Stablecoins are popular because they are supposed to be less volatile than “unpegged” cryptocurrencies, which are about ten times more volatile than major national currencies.

The stability and less volatile nature has made many it more appealing for market participants.

Due to this popularity, according to Ripple, stablecoin use and issuance are growing internationally, and the market is predicted to reach $3 trillion in the next five years.

The supply of stablecoin has increased significantly over the last few months. The stablecoin supply increased by $4.7 billion from August, or 3% per month, to reach $162.1 billion in September, according to Artemis’ data.

A number of market trends are reflected in this movement, such as institutional adoption, the desire for stability and liquidity, and a rise in confidence.

Stablecoins are designed to be widely used in daily transactions, especially for quick and inexpensive international payments.