USDC pushes Algorand’s stablecoin supply back over $100M

Stablecoin supply on @Algorand has climbed back above $100 million, with Circle's $USDC accounting for almost all of it. The total now stands at $100.4M, its highest level since July 2025, after a 6.8% rise over the past week, per DefiLlama data.

$USDC from @circle makes up 98.6% of the stablecoin supply on the network. That leaves little room for other dollar tokens on the chain.

Tokenized assets and network activity

Tokenized real-world assets on Algorand add about $57M. Over the past day, 33,229 addresses were active on the network, according to DefiLlama.

The latest figure marks a clear recovery from earlier levels. DefiLlama's stablecoin dashboard for the chain showed a total of about $44.4M with $USDC dominance of roughly 95.5% at an earlier snapshot, so the supply has more than doubled since then. Separately, a market report put the supply at $92.71M in the prior week, which was already the highest since July 2025.

$USDC is issued natively on Algorand by Circle. According to Circle's $USDC site, $USDC on Algorand is issued using the Algorand Standard Asset (ASA) token standard, and the coin is natively offered on 30 blockchains as of February 6, 2026. Circle's support documentation also states that Circle Mint only supports native $USDC on Algorand, not bridged versions.

The partnership between the two dates back several years. Circle announced a collaboration with the Algorand Foundation to bring $USDC-powered stablecoin capability to the network, with Algorand the first blockchain with a stablecoin implementation based on the Centre multi-chain framework.

Wider stablecoin backdrop

The rise on Algorand comes as the broader market has cooled slightly. Crypto Daily reported, citing DefiLlama, that total stablecoin market capitalization was about $300.1 billion as of October 26, down roughly 0.9% over 30 days. The same report said $USDC had fallen by close to 5% over that period. Algorand's gain therefore runs against the wider trend for $USDC supply.

For Algorand, stablecoin liquidity is a key input for payments and tokenized asset use cases. Whether the $100M level holds will depend on whether recent inflows persist.

Sources

DefiLlama: Algorand stablecoin market cap and supply
Circle: What is $USDC?
Crypto Daily: Stablecoin market tops $300B as Circle targets 40 new markets