Summary
- It was reported that demand for Circle's euro-linked stablecoin EURC has surged, reaching a record high in supply.
- EURC's supply reached $246 million, a 43% increase from the previous month, and is higher than some competing coins in terms of market capitalization.
- Amid increased economic uncertainty due to the Trump administration's tariffs, investors are seeking diversification through euro-based virtual assets.
Amid escalating U.S. trade tensions and a weakening dollar, demand for Circle's euro-linked stablecoin EURC has surged, reaching a record high in supply last month.
On the 14th (local time), cryptocurrency specialist media CoinDesk reported, citing RWA.xyz data, that as of March, EURC's supply reached $246 million, a 43% increase from the previous month, marking an all-time high.
In terms of market capitalization, this is higher than Paxos's Global Dollar (USDG) but lower than Ripple's RLUSD.
The media explained, "EURC is the largest euro stablecoin in the market, but it is still small compared to the dollar stablecoin market," adding, "Dollar stablecoins account for about 99% of the entire stablecoin market."
It continued, "However, the rapid growth of EURC may signal an increase in investor demand for diversification into euro-based virtual assets," adding, "Especially as the Trump administration's extensive tariffs increase economic uncertainty in the U.S., cryptocurrency investors are seeking alternative means."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
