Summary
- Buoyed by euro strength, the market capitalization of euro-pegged stablecoins grew by 44% so far this year.
- Circle's EURC accounts for approximately 42% of the total market capitalization of euro-pegged stablecoins.
- Despite the growth, the total market capitalization of euro stablecoins remains below 1% of that of dollar-based stablecoins.
Amid euro strength, there is analysis indicating that the market capitalization of euro-pegged stablecoins such as Circle's EURC has been experiencing rapid growth.
On the 27th (local time), cryptocurrency-specialized media outlet CoinDesk reported, "The market capitalization of stablecoins pegged to the euro has increased by 44% so far this year." According to crypto market platform Coingecko, the combined market capitalization of 21 euro-pegged stablecoins grew from $310 million in January to $480 million as of this date. Of this, EURC accounts for around 42% of the total.
The outlet further added, "Despite the steep growth, the overall scale of euro stablecoins remains limited and is less than 1% of the market capitalization of dollar-pegged stablecoins (approx. $254.8 billion)."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
