Cardano’s stablecoin market capitalization rose 25.8% over 90 days to $68.3 million, with USD Coin (USDC) making up the largest reported portion of the network’s dollar-pegged assets.
The stablecoin total and decentralized finance (DeFi) total value locked measure different parts of Cardano’s ecosystem. Protocols on Cardano had $64.46 million in value locked on Oct. 16, a distinct ecosystem measure.
USDC represented $44.4 million of the stablecoin total. USDM accounted for $13.5 million, while RealFi’s USDrf stood at $5.1 million.
The stablecoin balance does not measure app activity, and its rise alone does not establish that Cardano applications saw more use or demand for Cardano (ADA) grew.
