Allium Breaking Report: TRON Locks in Global Stablecoin "Second Pole," 31% Supply + Emerging Market Leadership Position
Allium Research's latest report "Stablecoins: The Emergence of a New Payment Rail" (2026 Q1) provides an in-depth analysis of the evolution of stablecoins as a new payment infrastructure, with particularly outstanding positioning and data performance for TRON.
The following extracts the key role of TRON in the stablecoin payment ecosystem based on the report's core analysis:
1/ Dual-leader supply structure remains unchanged, TRON solidly holds second place
Global stablecoin total supply reaches $266.3B • Ethereum still dominates: approximately 58.8% • TRON follows closely: approximately 31% Combined, they account for nearly 90% of the stablecoin supply share
Despite Solana, Base, BSC and other chains rapidly catching up in transaction activity, the "Ethereum + TRON" dual-giant structure at the supply level remains solid and difficult to shake in the short term.
2/ TRON's unique positioning: Global USDT payment backbone
The report clearly describes TRON as: TRON is core infrastructure for USDT in emerging markets, retail, commercial and cross-border payment scenarios
• Its ultra-low fees + deep USDT liquidity make it particularly suitable for high-frequency, small-value, cross-border real payment needs • Especially in commercial flows and remittance scenarios in emerging markets, TRON plays a critical role
3/ Multi-chain specialization has become a structural trend
Allium proposes a "three-tier framework" for stablecoin infrastructure: • Settlement Giants: Ethereum (institutional large-value settlement) + TRON (emerging market USDT circulation) • Growth Engines: Solana, BSC, Base, etc. (fastest-growing high-frequency trading) • Long Tail: other L1/L2s
The market is not moving toward single-chain monopoly, but rather **functional stratification**: TRON firmly occupies the track of "**low-cost, broad coverage, real payment-oriented**."
4/ Strategic outlook
TRON is not competing with Ethereum for institutional-grade settlement, but continuously consolidating its position as the "USDT payment superhighway" in emerging economies worldwide.
One-sentence summary of the report's assessment of TRON:
In the process of stablecoins transforming from "trading collateral" to "real payment rail," TRON has become an indispensable base layer connecting retail, commerce and cross-border payments in emerging markets, with particularly prominent status in the USDT ecosystem.**
Data Source: Allium Research – Stablecoins: The Emergence of a New Payment Rail (Q1 2026)
Allium Breaking Report: TRON Locks in Global Stablecoin "Second Pole," 31% Supply + Emerging Market Leadership Position
Allium Research's latest report "Stablecoins: The Emergence of a New Payment Rail" (2026 Q1) provides an in-depth analysis of the evolution of stablecoins as a new payment infrastructure, with particularly outstanding positioning and data performance for TRON.
The following extracts the key role of TRON in the stablecoin payment ecosystem based on the report's core analysis:
1/ Dual-leader supply structure remains unchanged, TRON solidly holds second place
Global stablecoin total supply reaches $266.3B
• Ethereum still dominates: approximately 58.8%
• TRON follows closely: approximately 31%
Combined, they account for nearly 90% of the stablecoin supply share
Despite Solana, Base, BSC and other chains rapidly catching up in transaction activity, the "Ethereum + TRON" dual-giant structure at the supply level remains solid and difficult to shake in the short term.
2/ TRON's unique positioning: Global USDT payment backbone
The report clearly describes TRON as:
TRON is core infrastructure for USDT in emerging markets, retail, commercial and cross-border payment scenarios
• Its ultra-low fees + deep USDT liquidity make it particularly suitable for high-frequency, small-value, cross-border real payment needs
• Especially in commercial flows and remittance scenarios in emerging markets, TRON plays a critical role
3/ Multi-chain specialization has become a structural trend
Allium proposes a "three-tier framework" for stablecoin infrastructure:
• Settlement Giants: Ethereum (institutional large-value settlement) + TRON (emerging market USDT circulation)
• Growth Engines: Solana, BSC, Base, etc. (fastest-growing high-frequency trading)
• Long Tail: other L1/L2s
The market is not moving toward single-chain monopoly, but rather **functional stratification**: TRON firmly occupies the track of "**low-cost, broad coverage, real payment-oriented**."
4/ Strategic outlook
TRON is not competing with Ethereum for institutional-grade settlement, but continuously consolidating its position as the "USDT payment superhighway" in emerging economies worldwide.
One-sentence summary of the report's assessment of TRON:
In the process of stablecoins transforming from "trading collateral" to "real payment rail," TRON has become an indispensable base layer connecting retail, commerce and cross-border payments in emerging markets, with particularly prominent status in the USDT ecosystem.**
Data Source: Allium Research – Stablecoins: The Emergence of a New Payment Rail (Q1 2026)
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