Stablecoins issued or circulating on Cardano reached approximately $70.2 million according to DefiLlama data on October 18, representing a 31% increase over 30 days. USDC accounts for nearly two-thirds of this total with approximately $44.5 million, while Moneta’s USDM contributes around $13.5 million. This growth provides additional dollar-denominated liquidity for Cardano applications, although an increase in supply does not guarantee productive use of these assets. The market capitalization remains modest compared to stablecoin markets on Ethereum and other larger networks.
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