Cardano Stablecoin Balances Rise 31% in 30 Days to About $70.2 Million

Cardano’s stablecoin total reached about $70.2 million in the Oct. 18 snapshot, a 31.1% increase over 30 days that measures balances on the network rather than how actively those tokens were used. The largest entry was labeled USD Coin (USDC) and valued at $44.54 million, about 63.5% of the total. Three other listed balances were Moneta’s USDM at $13.45 million, RealFi’s USDrf at $5.12 million and Anzens’ USDA at about $4.02 million. Together, those three entries came to about $22.6 million. The leading entry’s label is USDC. Cardano’s xReserve-linked stablecoin has a different name: USDCx. Each USDCx is matched one-to-one by USDC held in Circle’s xReserve. The reported USDC label does not establish that the full $44.54 million consists of USDCx.

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