The latest quarterly report from Token Terminal shows that TRON experienced strong network activity in the fourth quarter of 2025 despite a sharp drop in revenue.
This year, the network made a big decision to reduce transaction fees. This was to make it easier to use; hence, more people would use it in the future.
TRON is a Layer-1 blockchain that seeks to make transactions fast and cheap. It uses a consensus mechanism called Delegated Proof-of-Stake, with a total of 27 validators. Users can use their TRX to pay transaction fees.
At the end of August 2025, the TRON community voted to pass Proposal 104. This proposal lowered the energy unit price from 210 to 100 sun and reduced smart contract execution fees by almost 60%. Following this, the usage of the network increased.
Source: Token Terminal
The number of transactions increased to 934.52 million, representing a 13.61% increase from the third quarter and more than 32% from the prior year. The average throughput also increased to 117.57 transactions per second.
User activities continued to rise. The average monthly active users were 17.73 million, representing a 21.34% increase from Q3. Active wallets also increased to over 21 million in October and November.
Concurrently, TRON’s revenue declined by 37.96% QoQ to $655.57 million in Q4 due to a fee reduction. Yet, the total revenue in 2025 was $3.51 billion.
Also Read: How High Can TRON (TRX) Rise in March 2026?
Stablecoins still play a role in the TRON network. The network’s average supply of stablecoins is $78.76 billion for the current quarter. This is slightly lower compared to last quarter’s $80.51 billion.
However, it is close to 30% higher compared to the same period in 2024. USDT dominates the supply of stablecoins on the network.
Source: Token Terminal
Last December, the ADGM, an international financial center in Abu Dhabi, recognized USDT on the TRON network as an accepted fiat-referenced token. This enables the asset to be included in the list of regulated services offered by licensed financial institutions.
Another event was the announcement made by the fintech firm Revolut, which included TRX staking services and stablecoin remittance for over 65 million users in the European Economic Area.
Even though the network was heavily used, the financial results were not impressive. The fully diluted valuation of the project averaged $28.02 billion, a decline of 10.30%. However, it was 56.52% higher than the $17.90 billion recorded in Q4 2024.
Source: Token Terminal
In addition, the decline in revenue led to a loss in earnings, with the company recording a loss of $38.58 million, compared to the $6.72 million recorded in the previous quarter. It was the first time the company had recorded a loss in a year.
Source: Token Terminal
Also Read: Tron Inc. Expands Holdings With Fresh $50K Purchase of 175K TRX
