Algorand ($ALGO) 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 $
Algorand ($ALGO) 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.
If that pace holds, the network will pass $100M in stablecoin supply in the coming days. That would place @Algorand among a group of only 26 other networks above that level.
DefiLlama's Algorand dashboard, updated on Oct. 21, 2026, 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.
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.
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.
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.
If growth continues beyond the $100M mark, the chain could overtake networks such as @SonicLabs and @NEARProtocol in stablecoin supply rankings. Those comparisons depend on daily changes in supply on each chain, and positions can shift quickly.
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.
DefiLlama: Algorand chain metrics
Eco: How USDC works in 2026 (native chain list and CCTP V2, citing Circle)
