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Circle’s Euro Coin market cap rises to $198 million

Circle’s Euro Coin market cap rises to $198 million

Grafa2025/04/15 04:01
By: Isaac Francis
AAVE-1.98%SOL-1.52%EUROC0.00%

Circle’s euro-pegged stablecoin, Euro Coin (EURC), has seen its market capitalisation grow 136% year-to-date, reaching $198 million by mid-April.

The surge follows a weakening U.S. dollar and rising trade tensions, which have increased interest in euro-denominated assets.

Alex Obchakevich, founder of Obchakevich Research, noted that demand for the euro has grown significantly and has carried over into the stablecoin space.

The euro has risen 2.2% against the dollar since January, reaching $1.13, its highest level since February 2022.

The rise of EURC (CRYPTO:EURC) is also visible in decentralised finance activity.

In April, Aave (CRYPTO:AAVE) recorded €2.3 million in Euro Coin inflows.

EURC is supported on Ethereum (CRYPTO:ETH), Avalanche (CRYPTO:AVAX), Base, Solana (CRYPTO:SOL), and Stellar (CRYPTO:XLM), helping to expand its usage across multiple blockchain ecosystems.

Circle’s compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation has helped solidify EURC’s position in the market.

According to Circle’s EU policy director Patrick Hansen, EURC now leads the euro-backed stablecoin category by market capitalisation.

The broader stablecoin market is still dominated by Tether’s USDT (CRYPTO:USDT), which has a $144 billion market cap, followed by Circle’s USDC (CRYPTO:USDC) at $60 billion.

However, USDt has faced setbacks in Europe due to its non-compliance with MiCA.

Earlier this year, Binance removed USDT for users in the European Economic Area in order to meet new regulatory standards.

Obchakevich expects EURC could reach €400 million by the end of 2025, citing greater regulatory clarity and rising demand for euro-denominated digital assets.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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