Demand for EURC Stablecoin Jumps 43%, Reaching Record Levels as Dollar Weakness Drives Growth

Demand for Euro-Pegged EURC Stablecoin Soars as Dollar Wobbles and Trade Tensions Mount

Circle’s euro-backed stablecoin, EURC, is gaining serious traction, with its supply skyrocketing 43% over the past month to a record 217 million tokens, worth approximately $246 million. The spike comes amid a weakening U.S. dollar and escalating trade concerns under the Trump administration—prompting investors to seek refuge in euro-denominated digital assets.

Data from RWA.xyz shows Ethereum remains the primary chain for EURC, now hosting 112 million tokens (up 35%), but Solana led the growth with a 75% jump to 70 million tokens. Coinbase’s Base network also expanded its EURC footprint by 30%, reaching 30 million tokens.

EURC usage is also picking up rapidly. On-chain activity has climbed, with 22,000 active addresses (+66%) and monthly transfer volume exceeding $2.5 billion—up 47% in just 30 days.

While EURC still trails far behind major dollar stablecoins like USDT ($143B) and USDC ($58B), it’s now the largest euro stablecoin in circulation. Its rising popularity comes as investors look to hedge against U.S. economic uncertainty and the greenback’s 9% year-to-date drop against the euro.

Xapo Bank, a Bitcoin-forward financial institution based in Gibraltar, reported a 50% jump in euro-denominated deposits during Q1, far surpassing the 20% growth in USDC deposits and outpacing a 13% decline in USDT holdings.

“The surge in euro holdings reflects a shift in confidence away from the dollar, especially ahead of Trump’s anticipated ‘Liberation Day’ policy wave,” Xapo stated in a report.

EURC may also be benefiting from a reshuffling of stablecoin options in Europe. Tether pulled its euro-backed EURT product earlier this year as MiCA regulations rolled out across the EU. Exchanges such as Binance have followed suit, delisting USDT for European users in regulatory compliance moves.

At the same time, stablecoin swap volumes between the euro and U.S. dollar hit multi-year highs on Ethereum-based DEXs last week, further signaling increasing euro demand within DeFi circles.