Cardano Stablecoins Don Pass $70 Million as DefiLlama Coverage Expand

DefiLlama daily data for October 19 record approximately $70.2 million for stablecoins on Cardano, up by about 31% from $53.6 million one month earlier. Plenty of that increase dey reflect say dem don include USDM and USDrf, wey no dey for the starting snapshot.

Moneta and RealFi Change the Data Baseline

Moneta stablecoin come back into DefiLlama historical series on September 28 with approximately $13.5 million supply. Dem previous records end on February 9, wey leave gap for coverage even as the token still dey exist.

The return happen the same time wey Cardano recorded total rise from approximately $53.8 million to $67.5 million between September 27 and 28.

RealFi stablecoin adapter merge on October 8. Im historical series start that day with approximately $5.1 million, together with increase for Cardano aggregate total from roughly $67.5 million to $72 million.

These additions bring supply wey dem no record before into the comparison. The monthly percentage we see now combine changes for outstanding tokens with changes for which assets DefiLlama dey track.

Previously Tracked Supply Fall About 3.6%

If you remove Moneta and RealFi from the October 19 daily snapshot, e remain approximately $51.7 million recorded supply. That one dey around 3.6% below the total wey dem report one month earlier.

Most of the decline come from the category wey DefiLlama label USDC. Im recorded value fall from approximately $46.4 million to $44.6 million, but e still hold about 63.5% of Cardano tracked stablecoin supply.

This category dey aggregate Wanchain bridged balances and the Cardano dollar asset wey Circle xReserve framework support.

The figures dey describe outstanding stablecoin supply across Cardano. Dem no directly measure trading activity, lending utilization, or the liquidity wey dey available to execute one particular transaction.

Supply Definitions and Reserve Reporting

DefiLlama daily snapshot record approximately $13.45 million for Moneta stablecoin. Moneta transparency page display approximately 9.61 million tokens for circulation and equal dollar reserve balance.

The sources we review no reconcile that difference. To know wetin cause am, you need consistent treatment of circulating balances and reporting times; the two figures wey dem display alone no fit show say reserve shortfall dey.

Moneta talk say dem dey hold im reserves inside U.S. government money market funds and bank deposits.

RealFi adapter dey deduct specified protocol controlled balances from issued supply. E still dey exclude the corresponding staked token as separate stablecoin, so e no go count the same underlying position two times.

Around November 7, both issuers go dey present for the beginning and end of the 30 day comparison, as long as coverage remain unchanged. The monthly rate that time go compare snapshots wey already get both sources of supply.