Cardano stablecoin market cap up 25.8% to $68.3 million, ADA price falls 2.3%

Cardano ’s (ADA) price has come under pressure, declining 2.3% in the last 24 hours to $0.2248, despite a substantial rise in the network’s stablecoin market capitalization. Data from Cardanians (CRDN) shows that Cardano’s stablecoin market cap has expanded by 25.8% over the past 90 days, climbing to $68.3 million. This jump in stablecoin capitalization highlights growing activity in Cardano’s ecosystem, as dollar-pegged assets play a larger role in decentralized finance (DeFi) trading and application usage. According to Cardanians, USDC currently leads with $44.4 million, followed by USDM at $13.5 million and RealFi’s USDrf at $5.1 million.

Also reported by TronWeekly.

Source: CoinTurk News