Circle’s EURC Stablecoin hits record supply while crypto investors are looking for a variety of dollars
Euro-supported by Euro Stablecoin, EURC, has advanced in a record supply as mounting US trade tensions and a weakening dollar that is likely to be fuel demand for digital digital assets.
EURC supply rose 43% in the last month to 217 million tokens worth $ 246 million, ranked above the global Paxos (USDG) dollar (USDG) and below Ripple’s RLUSD by market capitalization, Rwa.xyz data Shut up. Most EURC tokens spread to the Ethereum network, up to 35% a month to 112 million, while Solana saw the fastest, 75% expansion of 70 million tokens. The base, Coinbase’s Ethereum Layer-2, also found 30% growth in 30 million in the EURC supply.
The token also experienced an on-chain activity uprising, with active addresses rising 66% to 22,000 and a monthly transfer volume of over $ 2.5 billion, up Rwa.xyz.
EURC is currently the largest Euro Stablecoin in the market, but it is far behind the denomination dollars. Dollar-Pegged Stablecoins make up 99% of Stablecoin’s rapidly growing market, led by the Circle’s $ 58 billion USDC and Tether’s $ 143 billion USDT token.
EURC’s accelerated growth can be a sign of growing demand for diversification of digital digital assets, especially as global investors have navigted to increase economic uncertainty in the US along with the Trump Administration Wide-Scale Tariff Rollout. The greenback has weakened 9% against the Euro since the beginning of the year.
The Xapo Bank, a Gibraltar-based financial service company-based financial service, reported Monday a 50% increase in euro deposits in the first quarter, exceeding a 20% increase in USDC Stablecoin deposits. Meanwhile, USDT deposits refused more than 13%.
“The rapid increase in volume has come to the middle of remembering the future of the US dollar primary and the threat of a US retreat as markets depending on Trump’s planned ‘liberation day’ in April,” the firm said in the report.
Stablecoin swap volumes between foreign currency pairs at Ethereum based on decentralized exchanges were also enlarged at last week’s multi-year highs, led by the EUR-US dollar pair, Blockworks data shown.
EURC has probably benefited from Tether’s departure of the Euro-supported Euro Stablecoin (EURT) with MICA regulations that have EU impact this year, while a number of exchanges have delisted USDT for EU users to comply with regulations, including Binance at the end of March.
