Circle’s EURO-supported stableecoin, EURC, rose to a record supply such as mounting US merchant tensions and a weakened dollar, which is likely to fuel demand for euro-denomine digital assets.
Over the past month, EURCS supply rose 43% over the last month to 217 million tokens worth $ 246 million that ranked over Paxos’ global dollar (USDG) and under Ripple’s RLUSD by market value, RWA.xyz data shows. Most of the EURC tookens circulate at the Ethereum network, an increase of 35% in one month to 112 million, while Solana saw the fastest, 75% expansion to 70 million tokens. BASE, COINBASES ETHEREUM-LAG-2, also experienced a growth of 30% to 30 million in EURC supply.
The token also experienced a Uptick in on-chain activity, with active addresses, 66% rose to 22,000 and the monthly transfer volume surpassed $ 2.5 billion, an increase of 47% in one month, per month. Rwa.xyz.
The EURC is currently the largest Euro-StableCoin on the market, but it hangs far behind its dollar-denominated colleagues. Dollar-Pegged StableCecoins make up 99% of the fast-growing stablecoin market, led by Circle’s $ 58 billion USDC and Rival Tether’s $ 143 billion USDT token.
The accelerating growth of the EURC may be a sign of rising demand for diversification for Euro-Ero-Ero Digital Assets, especially when global investors navigate rising economic uncertainties in the United States with the Trump Administration Bredscale Tariff rolling. Greenback weakened 9% against the euro since the start of the year.
Xapo Bank, a Gibraltar-based Bitcoin-focused company for financial services, reported an increase of 50% on Monday in euro deepositum quantities during the first quarter, exceeding the 20% increase in USDC StableCOin deposits. Meanwhile, deposits in USDT fell by over 13%.
“This rapid increase in volume came in the midst of increasing concern over the future of the US dollar lead and the threat of a US recession as the markets stood for Trump’s planned ‘Liberation Day’ in April,” the company said in the report.
StableCOin-swap volumes between couples with foreign currency on Ethereum-based decentralized exchanges also increased to perennial heights last week, dominated by the EUR-US dollar pair, BlockWorks data shows.
The EURC has also probably benefited from Tether’s withdrawal of its Euro-supported stablecoin (EURT) with EU-wide glitter regulations that come into force this year, while a number of exchanges delisted USDT for EU users to comply with rules, including Binance at the end of March.
