The development of stablecoins is emerging in the Cardano ecosystem, with USDA and USDM driving a 30% month-over-month increase in stablecoin market value, approaching $30 million. However, compared to Ethereum and others, the market value of Cardano's stablecoins only accounts for 9.65% of the total locked value, showing a significant gap. There is currently a proposal to convert some ADA into the stablecoin USDM to improve liquidity, but it also faces disputes over market risks.