Stablecoin supply on Cardano reached roughly $70.2 million in DefiLlama's October 18 snapshot, up about 31% over 30 days. USDC makes up nearly two-thirds of the total, though supply alone does not show how much the tokens are used.
Cardano's stablecoin market has crossed another small but notable threshold. DefiLlama's October 18 figures put the network's dollar-pegged token supply at approximately $70.2 million, with 30-day growth of about 31%.
USDC accounts for most of the balance. The tracker lists around $44.5 million in USD Coin on Cardano, roughly 63.5% of all stablecoins it follows there. Moneta's USDM contributes about $13.5 million, while RealFi USDrf and Anzens USDA make up smaller portions.
For an ecosystem seeking deeper decentralized finance markets, stablecoin supply is an important ingredient. Traders and lenders need liquid assets that serve as a common dollar unit, and developers often rely on them to support borrowing, payments and settlement.
But supply is not the same thing as usage. A rise in circulating stablecoins does not prove that the same value is trading regularly, that lending applications are earning more revenue, or that demand for ADA is rising. Those are separate questions requiring transaction and protocol data.
The growth also comes from a relatively modest base compared with the stablecoin markets on Ethereum and other larger networks, and percentages can look dramatic when the starting number is small. Still, it gives Cardano applications more dollar-denominated liquidity to work with.
Cardano's next milestone is showing that the additional balances are being used productively rather than simply parked on-chain.
Source: Bitcoinist.com
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