TRON Smashes $3.8B DeFi Milestone: SunSwap & JustLend Fuel 2025’s Blockchain Frenzy

TRON’s DeFi ecosystem just crossed $3.8 billion in swaps—no small feat in a market where 'decentralized' often means 'unpredictable.' SunSwap and JustLend are leading the charge, proving even skeptics wrong with relentless growth.

Why it matters: While Wall Street still debates crypto’s legitimacy, TRON’s numbers scream traction. The chain’s dual titans—SunSwap’s DEX dominance and JustLend’s lending clout—are pulling in users tired of Ethereum’s gas fee roulette.

The kicker? This surge isn’t just hype. Real volume, real protocols—and yes, real gambles. Because what’s DeFi without a little 'hold my stablecoin' energy?

• TRON’s SunSwap has repeatedly exceeded $3 billion per month of swap volume in 2025.
• JustLend’s lending activity has spiked, with the deposits tripling since January and reaching a record close to $740 million in April.
• TRON set a new USDT transfer record of $23.4B a day.

SunSwap, TRON’s top decentralized exchange, has been a reliable performer in the DeFi sector so far in 2025. Swap volumes have consistently been over $3 billion per month throughout 2025 so far, reaching a high of $3.8 billion in May, as per CryptoQuant.

June recorded a corresponding volume of $2.3 billion, with 8.6 billion WTRX changing hands, down from May’s yearly peak of 15.5 billion WTRX. To get a sense of that level of volume, 2024’s average monthly WTRX swap volume averaged 8.8 billion, so 2025 activity so far continues above pre-existing standards.

Though total SunSwap transactions decreased afterward due to meme coin hysteria during August-September 2024, 2025’s average transactions per month have been 516,000, which is much higher than 2024’s pre-hype 316,000 average per month.

The WTRX/USDT pair continues to be the leader of the platform, responsible for 62% of all all-time leading top 10 trading pairs, and 1.3 million swaps have been registered so far this year alone.

JustLend Activity Reflects Deepening Liquidity

The lending market of the network, called JustLend, has also seen heightened usage during 2025. The day-to-day deposits have grown over threefold since January, and deposit volume reached its second-highest record ever in April and covered approximately $740 million.

June saw a renewed spike, as deposited funds reached $350 million. The majority of these were deposited in the network-based stablecoins, USDT at $904 million and USDD at $358 million, signifying strong TRON-based stablecoin holding demand.

Borrowing activity has spiked as well, topping $10 million a day most days. Spikes through June 2025 data reach as high as $47 million.

Native TRON and stablecoin coins are topping borrowing activity, and USDT ($184M), TRX ($37M), and USDD ($2.3M) are out front. The rising lending and borrowing are a result of growing utility and trust in TRON’s DeFi ecosystem.

TRON Leads Stablecoin Transactions, Leaves Ethereum Behind

The leadership of the network in settlements of stablecoins is no longer debatable. The all-time record of daily USDT transfers of a massive $23.4 billion was reached by TRON on 25 June 2025, dwarfing Ethereum’s $9.9 billion in daily transfers.

This is a turning point, as the network has been regularly processing higher USDT volumes than ethereum since mid-2022. As Ethereum is advancing towards institutional DeFi infrastructure, the network has secured Tether’s top settlement network position.

The divergence is growing more intense. Ethereum’s USDT volume is 39% down from its November 2024 peak, while tron continues to ascend.