{"id":22061,"date":"2025-04-14T19:31:49","date_gmt":"2025-04-14T19:31:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22061"},"modified":"2025-04-14T19:31:49","modified_gmt":"2025-04-14T19:31:49","slug":"circles-eurc-stablecoin-surges-43-to-record-supply-as-dollar-troubles-fuel-demand","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22061","title":{"rendered":"Circle\u2019s EURC Stablecoin Surges 43% to Record Supply as Dollar Troubles Fuel Demand"},"content":{"rendered":"
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Circle\u2019s euro-backed stablecoin, EURC, surged to a record supply as mounting U.S. trade tensions and a weakening dollar likely fuel demand for euro-denominated digital assets.<\/p>\n<\/p>\n

EURC’s supply grew 43% over the past month to 217 million tokens worth $246 million, ranking above Paxos’ Global Dollar (USDG) and below Ripple’s RLUSD by market capitalization, RWA.xyz data<\/a> shows. Most of the EURC tokens circulate on the Ethereum network, up 35% in a month to 112 million, while Solana saw the fastest, 75% expansion to 70 million tokens. Base, Coinbase’s Ethereum layer-2, also saw a 30% growth to 30 million in EURC supply.<\/p>\n<\/p>\n

The token also experienced an uptick in on-chain activity, with active addresses rising 66% to 22,000 and the monthly transfer volume surpassing $2.5 billion, up 47% in a month, per RWA.xyz<\/a>.<\/p>\n<\/p>\n

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EURC is currently the largest euro stablecoin on the market, but it lags far behind its dollar-denominated counterparts. Dollar-pegged stablecoins make up 99% of the rapidly growing stablecoin market, led by Circle’s $58 billion USDC and rival Tether’s $143 billion USDT token.<\/p>\n<\/p>\n

The accelerating growth of EURC could be a sign of growing demand for diversification to euro-denominated digital assets, particularly as global investors navigate increasing economic uncertainties in the U.S. with the Trump administration wide-scale tariff rollout. The greenback weakened 9% against the euro since the start of the year.<\/p>\n<\/p>\n

Xapo Bank, a Gibraltar-based Bitcoin-focused financial services firm, reported Monday a 50% increase in euro deposit volumes during the first quarter, outpacing the 20% rise in USDC stablecoin deposits. Meanwhile, deposits in USDT declined by over 13%.<\/p>\n

“This rapid increase in volume came amidst mounting concern about the future of U.S. dollar primacy and the threat of a U.S. recession as markets braced for Trump\u2019s planned ‘Liberation Day’ in April,” the firm said in the report.<\/p>\n<\/p>\n

Stablecoin swap volumes between foreign currency pairs on Ethereum-based decentralized exchanges also soared to multi-year highs last week, dominated by the EUR-U.S. dollar pair, Blockworks data<\/a> showed.<\/p>\n<\/p>\n

EURC also has likely benefited from Tether’s withdrawal of its euro-backed stablecoin (EURT) with E.U.-wide MiCA regulations going into effect this year, while a number of exchanges delisted USDT for E.U. users to comply with regulations, including Binance at the end of March.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Circle\u2019s euro-backed stablecoin, EURC, surged to a record supply as mounting U.S. trade tensions and a weakening dollar likely fuel demand for euro-denominated digital assets. EURC’s supply grew 43% over the past month to 217 million tokens worth $246 million, ranking above Paxos’ Global Dollar (USDG) and below Ripple’s RLUSD by market capitalization, RWA.xyz data […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22061","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22061"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22061\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}