AUSD Supply Falls 18.5% In Two Days, Monad Balance Drops 29%

The AUSD supply dropped by $45.5 million between October 8 and October 10, 2026. DefiLlama's Agora Dollar series shows circulation sliding from $246.6 million to $201.1 million, a fall of 18.5% in two daily readings. Monad carried most of it, with the balance there going from $141.9 million to $100.3 million.

DefiLlama's Monad series for AUSD ends at $100.3 million on October 10, down from $120.6 million a day earlier.

Monad led the fall in AUSD supply

Daily readings for AUSD on Monad were steady near $145 million through October 7. Then they went $141.9 million, $120.6 million and $100.3 million. That is $41.6 million gone in two days, or 29% of the chain's balance.

A week back the picture looks the same. The total sat at $249.1 million on October 3, so the slide is about $48 million, and Monad accounts for roughly $46.8 million of it. Other networks barely twitched.

An on-chain read agrees. A totalSupply call on the Monad contract returned 99.86 million AUSD on October 10. The same call on Ethereum returned 74.86 million.

Ethereum behaved differently. Its balance climbed from $78.4 million on October 8 to $83.8 million a day later and then dropped to $74.4 million. So Ethereum added $5.4 million before giving back more than $9 million.

Monad's stablecoin pool grew while AUSD shrank

Stablecoins as a group moved the other way on Monad. DefiLlama puts the chain's total at $724.2 million on October 8 and $752.5 million on October 10. Other dollar tokens added about $70 million while AUSD fell, so its share of the pool went from 19.6% to 13.3%.

AUSD on Monad peaked at $198.2 million on September 5, 2026. The current $100.3 million is half of that high. Across all networks the peak was $359.5 million on December 5, 2025, so the AUSD supply today sits 44% lower.

Where the AUSD supply sits now

Monad held 57.5% of all AUSD on October 8. By October 10 its share was 49.9%. DefiLlama lists Mantle at $5.1 million, Immutable zkEVM at about $9 million, Avalanche at roughly $3 million and Sui at $1.9 million. Ethereum and Monad hold nearly everything else.

Total supply sat in a $246 to $249 million band for the whole of the week before the slide began.

On DefiLlama's list of USD-pegged stablecoins, AUSD now ranks 35th out of 341. It sits between USX at $211 million and M at $199 million. At $246.6 million on October 8 the AUSD supply would have placed it above crvUSD at $242 million.

What the numbers leave open

The data shows how many tokens exist on each network and nothing about who redeemed them or why. Issuer reserve reports and a Monad burn log would be the places to look for a cause. Until one of those appears, any explanation is a guess.

AUSD is the stablecoin issued by Agora. The earlier TOCE report on USDC supply covers a far larger move on the same data source. Daily DefiLlama readings are stamped 00:00 UTC, which makes the October 10 value an early-morning figure. A live check of the Monad and Ethereum contracts that morning matched the series within about 0.5%. This is a supply summary and not trading advice.