Euro-US dollar exchange (EUR/USD)The world’s most fluid currency pairs have risen 12.88% in the first half that surpasses NASDAQ and S&P 500 and almost competes with Bitcoin
14.8% are rising according to data source trading.
The strength of the euro has increased the appeal to stableecoins with values associated with the euro.
The cumulative market capital of 21 euro-pegged stableecoin’s track of Data Source CoingeCko has risen 44% from $ 310 million to $ 480 million. Leading growth is the US listed Circle’s EURC StableCoin, whose market capital has increased by 138% to $ 200.36 million.
“One of my bets this year was to move my entire stableCOin stack from USDC/USDT to a euro-denominated stableecoin as EURC. Up 13% in dollar value of less than 5 months,” Legendary, the pseudonymous host of the modern market show, advertised on X.
While the demand for Euro-Pegged StableCoins has risen, their total market cap remains less than 1% of the dollar-pegged stablecoins that boast a cumulative market value of $ 254.88 billion.
EUR/USD has risen from 1,0354 to almost 1.17 and hits the highest since September 2021. The recovery is characterized by a collapse in the connection between the exchange rate and the difference between the FED and the ECB rates as well as a broad-based shift away from the US dollar.
The 90-day correlation coefficient between EUR/USD and Bitcoin has recently jumped to 0.62, the highest since February 2024, indicating a moderate positive correlation between the two.
