Members of the Cardano community are buzzing with expectation following a cryptic post from the official X account of stablecoin project Moneta (USDM).
In a recent X post, Moneta (USDM on Cardano) teased an upcoming development, sparking excitement within the community. It referred to its tweet as a pre-announcement of a forthcoming reveal slated for today, October 31, 2025.
Something Big Coming to Cardano?
While the team did not reveal any specific details, the brief statement was enough to stir excitement within the Cardano community. So far, the post has garnered around 43,000 views, 230 likes, and 40 retweets.
Interestingly, Mintern, the self-proclaimed Chief Meme Officer (CMO) of Cardano-based Minswap exchange, further amplified this excitement with a quoted comment, noting that “something big is cooking on Cardano.”
Additionally, analytics platform TapTools also teased that the upcoming announcement is linked to a significant development on Cardano. These commentaries have amplified expectations that the forthcoming announcement Moneta hopes to make on October 31 could be a significant milestone for the broader Cardano ecosystem.
Meanwhile, several X users have been speculating about the upcoming announcement, with some suggesting that Moneta may be planning to rebrand its USDM stablecoin.
USDM Dominates Cardano Stablecoin Market
For context, Moneta is the official issuer of the dollar-pegged USDM stablecoin, which debuted on the Cardano network in March 2024. The USDM team designed the asset to serve as a key utility for payments and DeFi protocols, with the hope of driving the broader adoption of Cardano.
Each USDM token is supported by U.S. dollar deposits and funds managed by asset manager Fidelity, ensuring transparency and stability. Since its launch, USDM has remained the largest stablecoin on the Cardano network to date.
Out of Cardano’s total stablecoin market cap of $35.84 million, USDM accounts for $13.21 million, surpassing other stablecoins such as USDA at $10.63 million and IOG-backed Djed at $3.88 million.
As the Cardano community eagerly awaits Moneta’s upcoming announcement, the details surrounding the reveal remain undisclosed at the time of writing.