Algorand (@Algorand) is gaining ground in the stablecoin market while several larger networks lose supply. Its native stablecoin supply now stands at $99.5M, a rise of more than 10% over the
Algorand (@Algorand) is gaining ground in the stablecoin market while several larger networks lose supply. Its native stablecoin supply now stands at $99.5M, a rise of more than 10% over the past week, according to DefiLlama-based figures for algorand:native.
Other major networks, including @SuiNetwork, @StellarOrg and the $XRP Ledger from @Ripple, have all recorded notable reductions in stablecoin supply over the same period. Algorand, backed by the @AlgoFoundation, has moved the other way.
The latest reading builds on a sharp run. Algorand's stablecoin market cap grew nearly 25% in a week to $97.07M as of October 21, more than doubling from about $45M in late September, according to CoinMarketCap's summary of the data. Separate coverage noted that crossing $100M would put Algorand in a club of only 26 other networks.
The growth is heavily concentrated in one asset. USDC makes up 98.5% of the supply. USDC on Algorand rose 162.26% in 30 days to $91.26M, from $34.80M, according to a market data post.
The rise is also a return to earlier levels. Total stablecoin supply on the chain reached its highest since July 2025 in the most recent reading. Algorand's own ecosystem report for that month put stablecoin market cap at $78.2 million.
The XRP Ledger offers a contrast. Its total stablecoin market cap contracted 13.19% over the past week to roughly $999.9 million, according to DefiLlama data. The drop is tied mainly to Ripple's RLUSD: RLUSD, which holds over 90% of XRPL stablecoin value, fell 14.39% to about $907M as Ripple shifted supply toward Ethereum.
That points to redistribution rather than a shrinking market. RLUSD's total circulating supply across all chains remains in the $2.35 to $2.4 billion range.
Analysts caution that stablecoin supply is a measure of available liquidity, not of usage. CoinMarketCap's summary noted that it is a measure of potential, not immediate usage, as DEX volume remains low. With one stablecoin accounting for nearly all of Algorand's supply, the figure could also swing quickly if large holders move funds.
Whether Algorand holds above $100M will show if the inflows reflect lasting demand for the network's payments and tokenized asset infrastructure.
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