Cardano's stablecoin market experienced a significant surge this week, with total market capitalization rising 14.67% to $60.39 million, according to DeFiLlama. The growth was fueled by a massive $10 million USDCx bridge inflow from an unidentified user, which quickly boosted liquidity across the ecosystem. Additionally, $4.5 million in USDCx was minted within two days, as reported by SNEK co-founder Rami, further strengthening supply. USDCx, introduced by Circle earlier this year, now commands a dominant 59.38% share of the Cardano stablecoin market, totaling $35.85 million. The total value locked (TVL) on Cardano briefly climbed to $82 million before retracting to around $75 million, reflecting broader market pressures.
Despite these on-chain improvements, ADA's price remained under pressure, trading at $0.1519 with a 35.43% monthly decline and a market cap of $5.53 billion. The asset now sits as the 18th-largest cryptocurrency by market capitalization, highlighting a disconnect between growing DeFi usage and token price performance.
Amid these developments, the Cardano Foundation and EMURGO are facing renewed community scrutiny. DRep Dori publicly challenged the roles of both founding entities, questioning their contributions to ecosystem growth. In a post on X, Dori argued that both organizations must demonstrate clear results or risk being replaced by more effective groups. He contrasted Cardano's situation with Solana's, noting that the Solana Foundation has actively expanded through business programs, events, and partnerships, including deals with major financial groups in South Korea.
Dori also criticized the handling of the recent OUSD consortium, suggesting that the Foundation and EMURGO showed insufficient awareness and urgency. He emphasized that hosting yearly events and running small programs are no longer adequate, calling for stronger business growth, institutional adoption, and visible outcomes.
Meanwhile, ADA's price is holding near a critical support level at $0.138. Analyst King Dave observed that selling pressure may be easing, with the Relative Strength Index recovering from oversold territory. A sustained hold above this support could push ADA toward $0.17 in the short term. Historically, July has been a positive month for ADA, with gains of 29.3% in 2025 and 7.35% in 2022, though the current year shows a modest 4.05% increase so far. As the community debate continues and stablecoin liquidity grows, all eyes are on whether ADA can reverse its downward trend.
