Circle’s euro-backed stablecoin, EURC, has seen a remarkable growth of 43% over the past month, reaching a total supply of $246 million. This surge is attributed to increasing concerns over U.S. dollar stability amidst trade tensions and tariff uncertainties. With Tether exiting the euro stablecoin market and certain exchanges like Binance delisting USDT for EU users, demand has shifted towards euro-denominated digital assets. The majority of EURC tokens are circulating on Ethereum, while Solana has experienced the fastest growth. As investors navigate economic uncertainties, EURC has positioned itself as the leading euro stablecoin, although dollar-pegged stablecoins still dominate the market. Notably, Xapo Bank reported a significant rise in euro deposit volumes, indicating a broader trend of diversification away from the dollar. This trend is further reflected in heightened stablecoin swap volumes on decentralized exchanges. EURC’s increase in activity, along with the backing from growing market dynamics, suggests a strategic move by investors keen on mitigating risks associated with the U.S. dollar.

Source 🔗