​Circle's EURC Stablecoin Surges 43% to Record Supply Amid Dollar Volatility

Key Takeaways:

• Circle’s EURC stablecoin has surged by 43% over the past month, reaching a record supply of $246 million, driven by rising demand for euro-backed digital assets.

• Concerns over the U.S. dollar's stability, particularly due to ongoing tariff fears from the Trump administration, have led crypto users to seek euro-denominated alternatives, according to Xapo Bank.

• The growth of EURC has also been boosted by Tether's exit from the euro stablecoin market and exchanges like Binance removing USDT for European users.

Circle's euro-backed stablecoin, EURC, has experienced a significant surge, increasing its supply by 43% over the past month to reach a record 217 million tokens, valued at approximately $246 million . This growth positions EURC above Paxos' Global Dollar (USDG) in market capitalization, though it remains below Ripple's RLUSD.​

The rapid expansion of EURC is attributed to growing investor concerns over the U.S. dollar's stability, driven by trade tensions and economic uncertainties. Since the beginning of the year, the dollar has depreciated by about 9% against the euro . This shift has led to increased demand for euro-denominated digital assets as alternatives to dollar-pegged cryptocurrencies.​

The adoption of EURC has been particularly notable on the Solana network, which saw a 75% increase in supply, reaching 70 million tokens. The Ethereum network continues to be the primary platform for EURC, with a 35% growth to 112 million tokens, while Coinbase's Base layer-2 solution experienced a 30% rise to 30 million tokens.

In addition to the supply growth, on-chain activity for EURC has also intensified. Active addresses have increased by 66% to 22,000, and monthly transfer volumes have surpassed $2.5 billion, marking a 47% rise from the previous month.

The surge in EURC's supply and activity underscores a broader trend of diversification in the cryptocurrency market, as investors seek stability and alternatives amid dollar volatility. With the implementation of the European Union's MiCA regulations, which have led to Tether's exit from the euro-pegged stablecoin market, EURC stands to benefit from a more favorable regulatory environment in Europe.