Since USDCx landed on Cardano I’ve been paying more attention to how capital is behaving there.

Nothing explosive, but you can see stablecoin balances rising and TVL adjusting alongside it.
That kind of response usually means the infrastructure was missing before, not the interest.
What changes here is pretty simple: there’s finally a stable asset that external capital already recognizes, so routing and pricing start to make more sense.
Now it becomes less about launches and more about whether flows keep building.
The reduced fees over the next months should make that pretty clear.