The stablecoin to DeFi TVL ratio on Cardano jumped from around 10% last June to 32% now, roughly tripling. In just the past 7 days alone, $USDCx liquidity pushed stablecoin supply from $33M to $47M, a 42% increase! To be fair, a big part of that ratio increase is because Cardano's DeFi TVL is mostly $ADA, so when ADA's price dropped, dollar-denominated TVL came down and inflated the stablecoin ratio. But what's exciting is that USDCx integration just went live, and minting volume is only going to grow. This lays the groundwork for Cardano's DeFi ecosystem to genuinely mature and diversify. You need deep stablecoin liquidity before you can build lending markets, perpetual DEXs, and structured products. That's what unlocks the next level of DeFi!