# Track Cardano Stablecoins in One Place - Cexplorer Stablecoin Dashboard Following the increased adoption of stablecoins on Cardano, we've launched a dedicated [Stablecoin Dashboard](https://cexplorer.io/stablecoin-dashboard), its new analytics page giving users a comprehensive, real-time view of stablecoin activity across the Cardano network. ## What Is the Dashboard? The Stablecoin Dashboard aggregates key metrics from across Cardano's stablecoin ecosystem in one place. It features three core metrics at the top, an analytics chart, and a mint events table filterable by individual stablecoin. **Net Flow (Epoch)** - Tracks the net change in stablecoin supply for the current epoch, calculated as newly minted tokens minus burned tokens. A positive net flow means more stablecoins entered circulation than were redeemed, giving a quick read on whether demand is growing or contracting within that period. **Market Cap** - The total USD value of all stablecoins currently in circulation on Cardano, also expressed in its ADA equivalent. This gives a high-level picture of how much dollar-denominated liquidity exists across the ecosystem at any moment. **Dominance** - Shows the percentage share each stablecoin holds of the total Cardano stablecoin market cap. It makes it easy to see which assets are leading adoption and how the balance is shifting over time as new stablecoins launch and gain traction. **Analytics Chart** - An interactive multi-line chart plotting Activity (transaction count), Asset Volume (USD), and Holders across epochs. Hovering over any epoch reveals a detailed tooltip breaking down each metric by individual stablecoin - showing transaction count, volume, and holder count for each asset separately. This makes it easy to spot trends and compare stablecoin activity over time. At the time of writing, the Cardano stablecoin market cap stands at $49.20M (₳186.91M equivalent), with a net epoch inflow of $85.44k. USDM currently holds the largest share at 32.37% dominance, followed by USDCx at 29.29%, USDA at 19.73%, DJED at 7.31%, and others. ## Cardano's Stablecoin Ecosystem Cardano's stablecoin options have grown significantly over the past months, with multiple native and bridged assets now available: - **[USDCx](https://cexplorer.io/asset/asset1e7eewpjw8ua3f2gpfx7y34ww9vjl63hayn80kl)** - A dollar-denominated stablecoin native to Cardano, issued via Circle's xReserve infrastructure. Backed 1:1 by USDC reserves, minting occurs through integration with Circle's Cross-Chain Transfer Protocol (CCTP) for interoperability without third-party bridges. Circle and Cardano's PENTAD signed an integration agreement for its launch. Almost 14 million USDCx were minted in just a few hours on February 27th, 2025. - **[USDM](https://cexplorer.io/asset/asset12ffdj8kk2w485sr7a5ekmjjdyecz8ps2cm5zed)** - The first and currently most widely used native fiat-backed stablecoin on Cardano, issued by Moneta Digital LLC. It's a US-regulated Money Services Business. Backed 1:1 by USD bank deposits and US money market funds. - **[USDA](https://cexplorer.io/asset/asset16fq594uun90f2jajmecjcdt4jnsnq7r3jdqsw5)** - A regulatory-compliant Cardano-native stablecoin, backed 1:1 by US dollar reserves. Custodied by BitGo Trust, USDA targets both developed and emerging markets with off-ramp capabilities in 80+ countries. It officially went live in March 2025. - **[DJED](https://cexplorer.io/asset/asset15f3ymkjafxxeunv5gtdl54g5qs8ty9k84tq94x)** - An algorithmic overcollateralized stablecoin developed by COTI for the Cardano ecosystem, pegged to the US dollar. Backed by ADA as collateral at a 400-800% overcollateralization ratio, stability is maintained through smart contract mechanisms using SHEN as the reserve coin. It is the first formally verified stablecoin protocol on Cardano and has maintained its peg consistently since launch in January 2023. - **[iUSD](https://cexplorer.io/asset/asset1rm38ahl5n88c3up6r67y7gn0ffxqwuw7thjxqr)** - A synthetic stablecoin issued through Indigo Protocol, Cardano's decentralized synthetics platform. It derives its value from the median price of USDC, TUSD, and USDT, and is minted by users staking ADA as collateral in overcollateralized positions (CDPs). iUSD was the first stablecoin on Cardano, having launched in November 2022. - **[USDC via Wanchain](https://cexplorer.io/asset/asset13suleph5jmpz9j5e4q0kxydesp2aug93mjkvm6)** - While Circle does not natively mint USDC on Cardano (USDCx is the native equivalent), wrapped USDC from Ethereum has been available since August 2023 via Wanchain Bridge, a decentralized, non-custodial cross-chain bridge using a lock-mint/burn-unlock mechanism. - **[USDT via Wanchain](https://cexplorer.io/asset/asset1yd4qrkavvvmwnptkh73ds9v8jrvm7ghjvjjp89)** - Tether's USDT is available on Cardano through the same Wanchain Bridge infrastructure, bridged from Ethereum and other EVM-compatible networks. Original tokens are locked on the source chain and equivalent wrapped tokens are minted on Cardano, maintaining 1:1 backing by the locked reserves. ## Per-Stablecoin Mint and Burn Tracking The dashboard also includes a Mints tab listing individual mint and burn events across all tracked stablecoins, filterable by asset. This makes it easy to follow issuance activity in real time and see exactly when new supply enters or leaves circulation. A Summary tab is also coming in the next update. It'll display core stats for each stablecoin in a single table for a quick overview of the stablecoin ecosystem on Cardano. ## One Place for All Cardano Stablecoin Data For anyone active in Cardano DeFi, the Stablecoin Dashboard can be the go-to page to check the state of the ecosystem at a glance. Instead of hunting across multiple explorers and protocol dashboards, all key stablecoin data is aggregated in one place, both native assets and wrapped bridged tokens. As new stablecoins launch on Cardano, they will be added to the dashboard, making it a living resource that grows alongside the ecosystem. Whether you are tracking liquidity trends, researching a specific asset, or just keeping an eye on overall market health, the dashboard gives you everything you need in one view. Check it out at [cexplorer.io/stablecoin-dashboard](https://cexplorer.io/stablecoin-dashboard).
