Euro Coin (EURC) saw a sharp increase in on-chain activity as both daily active addresses and new wallet creation reached all-time highs in its four-year history, according to Santiment.
The surge likely reflects growing demand for regulated euro-denominated stablecoins as the EU’s Markets in Crypto-Assets (MiCA) framework encourages exchanges, payment providers, and crypto applications to adopt compliant digital assets.
Biggest On-Chain Spike
Circle’s EURC has emerged as one of the leading euro-backed stablecoins in this environment, particularly as usage for these tokens continues to expand beyond traditional US dollar trading pairs. Santiment said the latest on-chain data indicates euro liquidity is becoming increasingly important across blockchain networks.
The analytics firm also linked the increase in activity to recent developments within Circle’s ecosystem, broader cross-chain expansion of stablecoins, and renewed interest in compliant payment infrastructure.
Circle issues EURC through Circle SAS, with the regulated euro-backed stablecoin available on networks including Ethereum. It has also continued expanding EURC support across additional blockchain ecosystems. This includes enabling USDC and EURC on Cronos while investing in broader stablecoin infrastructure.
Santiment said that although stablecoins do not typically experience price rallies like other crypto assets, rising activity around EURC points to growing underlying demand within Europe’s blockchain-based payment ecosystem.
Europe’s Regulated Stablecoin
The market for MiCA-compliant euro stablecoins currently consists of eight fully authorized tokens, which offer regulated options for different types of users.
EURC is the largest by market capitalization and is joined by Société Générale’s EURCV, which is designed for institutional and wholesale settlement. Monerium issues EURE as a regulated e-money token, while Schuman Financial offers EUROP, a newer entrant focused on the European market. StablR’s EURR is a cash-backed euro stablecoin, and Quantoz Payments issues the MiCA-compliant EURQ.
EURI, issued through Banking Circle, is among the three largest euro stablecoins by market capitalization, while EURAU is the newest addition, launched by AllUnity. The combined market capitalization of the eight tokens grew from around $295 million to $669 million over the past year, an increase of about 126%.
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