EURC, Circle’s euro-backed stablecoin, just hit a record-high supply. EURC has grown by 43% in the past month, reaching $246 million.
That kind of jump isn’t just impressive—it signals that more people are exploring EURC as concerns about the U.S. dollar grow.
What’s behind EURC’s big moment?
The U.S. dollar faces rising concern about its future because of market uncertainties and recent reports of potential tariff implementation by former president Trump. Consequently, investors seek better investment opportunities. A Gibraltar-based bank called Xapo Bank reported a 50% increase in euro deposits in Q1, while USDC only went up 20%, and USDT dropped by 13%.
— Cointelegraph (@Cointelegraph) April 15, 2025
And it’s not only fear of the dollar. EURC is also getting a boost because Tether decided to shut down its euro stablecoin, EURT. In addition, Binance and other exchanges have removed USDT from their platforms for European users due to new EU regulations. This gives EURC an open lane to becoming the go-to euro stablecoin.
Where is all this EURC going?
Most of it is on Ethereum, where 112 million tokens are circulating (up 35%). Solana saw the biggest growth, jumping 75% to 70 million tokens. On the Coinbase Base network, EURC token activity expanded by 30%, with 30 million tokens in circulation.
Network activity surged as the address count jumped 66% to 22,000, with $2.5B transferred.
EURC Supply Hits $248M as Traders Ditch USD — Stellar Joins the Rise
As traders move away from the dollar amid global uncertainty, Circle’s EURC stablecoin just reached a record $248M in circulation!
Euro-backed stablecoins are gaining ground, with growing adoption… pic.twitter.com/PFm8iCK8js
— Scopuly – Stellar Wallet (@scopuly) April 16, 2025
The Bigger Picture
Even though the EURC is tiny compared to dollar giants like USDC and USDT, it’s leading the euro-backed stablecoin race. The entire stablecoin market comprises dollar-pegged stablecoins, which account for 99% of the current market share.
This year, the dollar’s decline by 9% relative to the euro created new prospects for investors to explore currency diversification strategies within the crypto market through EURC.
In recent weeks, interest in the
Euro has grown tremendously. And this interest has not escaped the @circle – $EURC stablecoin.
In April, @aave added +€2.3m, which is an increase of 531.9% (€364k)
The euro strengthened by 2.2% to a six-month high of $1.1021. This was its… https://t.co/ENPObVZRcC pic.twitter.com/q8qXGpksJe
— Alex (@obchakevich_) April 13, 2025
Conclusion
Circle’s EURC stablecoin continues to rise in popularity. It gained market share after EU regulations, dollar uncertainties, and Tether’s withdrawal, which created the opportunity for successful market penetration through its high supply level. Research indicates that the market stands at the threshold of establishing a euro-centred stablecoin period.
Disclaimer
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