Cardano Stablecoin Market Cap Rises 25.8% in 90 Days to $68.3 Million

Over 90 days, the market value of stablecoins on Cardano increased 25.8%, reaching $68.3 million, adding to dollar-pegged assets that can support transfers, trading and decentralized finance on the network.

USD Coin (USDC) accounted for $44.4 million of the total. USDM represented $13.5 million, while RealFi's USDrf was $5.1 million.

Cardano's decentralized finance (DeFi) total value locked stood at $64.46 million on Oct. 16. Stablecoin market capitalization and DeFi value locked measure different parts of the ecosystem, so growth in one does not establish a matching rise in the other.

Stablecoin balances can support transfers, trading and DeFi, but a higher total alone does not show that use of Cardano applications or demand for Cardano (ADA) increased. A prior Oct. 7 snapshot put Cardano's stablecoin supply at $66.8 million, down 0.74% over the previous week.