TRON Hits Record $691B in USDT Transfers, Driven by $411B Whale Activity

TRON's USDT network has shattered previous records, reaching a staggering $691 billion in total transfer volume in May, according to new data.

May saw TRON hit a staggering new high with $691 billion in USDT transfer volume, according to data from CryptoQuant.

Of that figure, $411 billion was comprised of whale-level transactions, highlighting the growing role of institutions in using TRON for large-scale stablecoin movement.

The figures were shared via a chart by CryptoQuant, highlighting USDT (TRC-20) monthly contract interactions and total transfer volumes. The data shows consistent growth throughout early 2025, peaking in May before a notable drop in June.

The figures were shared via a chart by CryptoQuant, highlighting USDT (TRC-20) monthly contract interactions and total transfer volumes. The data shows consistent growth throughout early 2025, peaking in May before a notable drop in June.

As the dominant stablecoin and TRON’s flagship token, USDT has been instrumental in driving the network’s performance. The network’s scalability and low fees continue to attract both retail and institutional users as stablecoin utility expands beyond trading into remittances, settlements, and DeFi integration.

January started with $576 billion in USDT movement, gradually rising month-over-month to May’s $684.5 billion before June’s drop to $164.7 billion, likely reflecting a temporary cooldown in market activity.

Bitcoin Targeting $120,000 While Altcoins Signal Historic Breakout Potential

After a period of consolidation, Bitcoin is showing signs of renewed strength as it approaches the $90,000 level.

The cryptocurrency market is known for its volatility, and in the past 24 hours, we've seen some interesting price movements.

As of 08:00 ET (12:00 CET), Bitcoin (BTC) is trading at around $89,300, showing a slight decrease of 0.36%, according to data from CoinGecko. Meanwhile, Ethereum (ETH) has experienced a steeper decline of 1.35% over the past 24 hours, trading at approximately $2,126.

Looking at the broader cryptocurrency market, we can see that the total cryptocurrency market capitalization has decreased by 0.25% in the past 24 hours to reach $2.57 trillion.

Bitcoin (BTC)

Bitcoin is on the cusp of a decisive move, with the outcome having implications for the broader cryptocurrency market.

As Bitcoin hovers around $90,000, analysts at Glass Node are focusing on the potential for a final wave V of Elliott's Wave Theory to play out.

According to their analysis, Bitcoin's price movements can be broken down into distinct waves, with each wave signaling a specific stage of the cryptocurrency's price cycle.

Elliott's Wave Theory is a technical analysis tool used to identify and predict market trends by examining crowd psychology and how it manifests in price patterns.

The theory suggests that markets move in five waves in the direction of the main trend, followed by three waves in the opposite direction for a correction.

In the case of Bitcoin, the analysts believe that the first four waves of Elliott's Theory have already been completed, setting the stage for the final wave V of this cycle.

This final wave is expected to carry Bitcoin to new highs, potentially reaching $120,000 or even higher.

According to the analysts, the lack of strong selling pressure at higher prices and the persistence of buyers suggest that there is still plenty of room for Bitcoin to run.

Moreover, they observe that Bitcoin has consistently found support at the 200-week moving average throughout its history, providing another indication of the cryptocurrency's resilience.

With stablecoins continuing to gain prominence in the global financial landscape and TRON emerging as a leading network for low-cost and rapid USDT transfers, large-scale institutional activity is coming into sharper focus.

May saw a staggering $691 billion pass through TRON’s network in total, with $411 billion of that figure composed of whale-level transactions, according to data from CryptoQuant.

The figures were shared via a chart by CryptoQuant, highlighting USDT (TRC-20) monthly contract interactions and total transfer volumes. The data shows consistent growth throughout early 2025, peaking in May before a notable drop in June.

The data shows that in January, a record $576 billion in USDT was moved, and from there the figures grew steadily, eventually reaching $684.5 billion by May. However, June saw a steep drop to $164.7 billion.

As the dominant stablecoin and TRON’s flagship token, USDT has been instrumental in driving the network’s performance. The network’s scalability and low fees continue to attract both retail and institutional users as stablecoin utility expands beyond trading into remittances, settlements, and DeFi integration.

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