TRON Leads All Blockchains in November Fees as Perpetuals Trading Surges 271%

TRON ended November as the top blockchain by fees, extending its dominance in payment infrastructure and stablecoin settlement.

Despite experiencing its lowest fee revenue since January 2023, the chain still outperformed every major competitor, signaling strong real-world usage and accelerating adoption.

Data shows TRON generated $29.4 million in fees for November, ahead of Ethereum’s $22.8 million and Solana’s $19.9 million. The numbers underline a shift happening across crypto: users are favouring cheaper, faster networks for day-to-day transactions, particularly stablecoin transfers.

• And on TRON, the trend is overwhelming.
• 84% of TRON’s fees come from USDT alone.

TRON’s Stablecoin Engine Continues to Grow

TRON has quietly become the backbone of global USDT movement. Over the past year, it has consistently processed the majority of Tether’s on-chain circulation, now keeping a firm hold over stablecoin transfers worldwide.

New network stats show how significant its footprint has become:

•  350 million total accounts crossed
•  $23 trillion in total transactions processed
•  Physical goods purchases via USDT up 64% in Q3

These metrics point to something larger than blockchain speculation. TRON is increasingly being used for real commerce. The surge in physical goods purchases reflects stablecoins growing into a primary payment tool, especially in emerging markets where banking infrastructure struggles to keep up.

CryptoRank and other analytics platforms say the data strongly suggests payment infrastructure adoption is accelerating, and TRON is at the centre of it.

Perpetual DEX Boom Reaches TRON With Massive Growth

Another major trend is reshaping the TRON ecosystem, the rapid expansion of on-chain perpetuals.

Perp DEX activity has been one of the most explosive growth sectors in crypto this year, and TRON has now joined that momentum. In November, perpetual trading volume on TRON hit an astonishing $9.078 billion, marking a 271% jump compared to October.

This sharp rise shows derivative traders are shifting to TRON for several practical and competitive reasons:

•  Extremely fast processing speeds
•  Near-zero transaction fees
•  Deep liquidity from the largest USDT supply in crypto
•  Highly efficient execution for leverage trading

The network’s stablecoin liquidity is especially important. With billions in USDT circulating on TRON, traders can open long and short positions, deploy leverage, and execute trades in near real-time with minimal cost.

For active traders, these factors are critical, especially during volatile market swings when execution delays or high fees can make or break a strategy.

TRON’s Evolution: From Stablecoin Rails to Derivatives Hub

The surge in perpetuals volume indicates a larger shift underway. TRON is expanding beyond being simply a “railway” for global stablecoins.

It is becoming a full on-chain derivatives trading hub, one where traders operate 24/7, accessing deep liquidity pools and ultra-low-cost infrastructure.

This evolution is significant for several reasons:

1. It solidifies TRON’s role in real financial infrastructure

TRON’s network is no longer just moving stablecoins. It’s now facilitating sophisticated trading strategies and advanced financial operations at scale.

2. It showcases the chain’s practical advantages

High throughput, extremely low fees, and a proven track record in stability are attracting more than just remittance users.

3. It increases TRON’s competitiveness

Ethereum still leads in DeFi innovation. Solana leads in speed. But TRON is becoming the chain for high-frequency, low-cost, high-liquidity activity, especially in stablecoins and derivatives.

As more traders migrate to cost-efficient environments, TRON’s user base and transaction volume are likely to keep expanding.

4. It highlights TRON’s shift toward utility-based adoption

TRON’s growth is driven by daily real-world use, payments, trading, transfers, not speculative hype cycles.

Why TRON Keeps Dominating Fees Despite Market Fluctuations

Even with its November fee revenue hitting the lowest level since early 2023, TRON still ended the month ahead of every other chain. This shows two things:

•  Stablecoin usage on TRON remains extremely sticky
•  Users choose reliability and low friction above all

Ethereum still dominates institutional-grade DeFi and high-value settlements. Solana leads in high-speed applications. But TRON’s role is clearer than ever:

•  It’s the global settlement layer for billions in stablecoin value, used daily.

USDT transfers remain the single most utilized blockchain action on TRON, accounting for 84% of all fees. That type of concentration is unusual, but also perfectly aligned with TRON’s mission: being the world’s most efficient payment layer.

What Comes Next for TRON

Market analysts believe TRON’s momentum in perpetuals trading could accelerate in 2025 as traders search for lower-cost alternatives and platforms experiment with more user-friendly derivatives products.

At the same time, stablecoin adoption is rising at unprecedented speed. With 350 million accounts now created and trillions in transaction value processed, TRON’s role in global digital payments appears to be strengthening, not slowing down.

If the network continues to grow both sides of its ecosystem, payments and derivatives, TRON could solidify itself as the most practical and widely used blockchain infrastructure in the world.

• Not because of hype.
• Not because of speculation.
• But because people actually use it

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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