DeFi

Algorand

Stablecoin

USDC

<p>Algorand (<a href="https://x.com/search?q=%24ALGO&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ALGO</a>) is closing in on a stablecoin milestone. The stablecoin market cap on the network has risen by nearly 25% over the past week, according to DefiLlama data, and now stands at $97.07M.</p>
<p>If that pace holds, the network will pass $100M in stablecoin supply in the coming days. That would place <a href="https://x.com/Algorand" rel="noopener noreferrer nofollow">@Algorand</a> among a group of only 26 other networks above that level.</p>
<h2 id="what-the-data-shows">What the data shows</h2>
<p>DefiLlama's Algorand dashboard, <a href="https://defillama.com/chain/Algorand" rel="noopener noreferrer nofollow">updated on Oct. 21, 2026</a>, lists stablecoin market cap at $97.1M, with a 7-day change of +24.92%. USDC dominance is 98.51%, which means the increase is almost entirely driven by a single issuer's token.</p>
<p>That concentration is not new. In late September, a separate snapshot showed the supply at about $45M, with USDC making up nearly 96%. The latest figure is therefore more than double that level in under a month. A third-party report also pointed to a sharp rise in USDC on the network over 30 days, with total stablecoin supply reaching its highest level since July 2025.</p>
<p>Algorand is one of the chains where Circle issues USDC natively rather than through a bridge. Circle's Cross-Chain Transfer Protocol is also expanding the number of chains between which USDC can move, which can make it easier for liquidity to arrive on smaller networks.</p>
<h2 id="rankings-and-what-to-watch">Rankings and what to watch</h2>
<p>A move past $100M would be a symbolic step more than a structural one. Sitting alongside the broader ecosystem, Algorand's DeFi total value locked was $34.62M on the same DefiLlama page, and 24-hour DEX volume was around $188,522. Stablecoin supply alone does not show how actively the funds are being used.</p>
<p>If growth continues beyond the $100M mark, the chain could overtake networks such as <a href="https://x.com/SonicLabs" rel="noopener noreferrer nofollow">@SonicLabs</a> and <a href="https://x.com/NEARProtocol" rel="noopener noreferrer nofollow">@NEARProtocol</a> in stablecoin supply rankings. Those comparisons depend on daily changes in supply on each chain, and positions can shift quickly.</p>
<p>For $ALGO, which DefiLlama lists with a market cap of about $1.03B, the stablecoin trend is one indicator of on-chain liquidity. It does not by itself point to price direction.</p>
<h2 id="sources">Sources</h2>
<p><a href="https://defillama.com/chain/Algorand" rel="noopener noreferrer nofollow">DefiLlama: Algorand chain metrics</a></p>
<p><a href="https://eco.com/support/en/articles/11854839-how-does-usdc-work-2026-guide" rel="noopener noreferrer nofollow">Eco: How USDC works in 2026 (native chain list and CCTP V2, citing Circle)</a></p>

Algorand about to enter the stablecoin big leagues...

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