Circle's EURC Supply Jumps 43% as Euro Demand Rises

Circle's euro-backed stablecoin, EURC, has seen significant growth recently. Over the past month, its supply surged by 43%, reaching 217 million tokens, valued at approximately $246 million. This increase suggests a growing demand for euro-denominated digital assets.

Data indicates that the Ethereum network holds a substantial portion of EURC tokens, with a notable increase of 35% to 112 million tokens. Other networks like Solana and Base have also experienced growth in EURC supply, with Solana expanding by 75% to 70 million tokens and Base growing by 30% to 30 million tokens.

Increased on-chain activity supports this trend. Active addresses have risen by 66% to 22,000, and the monthly transfer volume has exceeded $2.5 billion, marking a 47% increase. This surge in EURC adoption may be connected to factors such as the withdrawal of Tether's euro-backed stablecoin (EURT) and exchanges delisting USDT for E.U. users due to MiCA regulations.