Euro Stablecoins Near €1 Billion Circulation Amid Market Shifts

Stacy Muur posted on X. The euro stablecoin market is experiencing significant movement, with euro stablecoins approaching €1 billion in circulation for the first time. Throughout 2023-2024, stablecoins such as EURC, EURS, and AEUR were limited to a range of €300-400 million. The current market downturn has prompted traders to seek stable alternatives for capital, contributing to the growth of euro stablecoins. This increase in euro stablecoin volume enhances liquidity for European Union protocols and improves euro pairings on centralized exchanges. Despite this growth, dollar stablecoins continue to dominate the market. USDT maintains a 60% market share, equivalent to $185 billion, while USDC holds 23%, exceeding $70 billion. Although €1 billion is relatively small compared to dollar stablecoins, this growth is crucial for the adoption of cryptocurrency in Europe.