Circle’s EURC hits record $246M supply as traders flee the dollar

The Euro -based stable market increases as merchants move away from the dollar in the middle of commercial uncertainty.

The European market in stalls is slowly moving away from the dollar. On Tuesday April 15, the Stablecoin Eurc de Circle struck a high offer of all time $ 248 million in provide. This makes it the largest stablecoin worded in euros in circulation, which plunged it on stablecoins based on the USD such as the USDG.

Growth coincides with increasing concerns concerning EU trade relations with the United States in the midst of current pricing tensions. Traders, especially those in Europe and Asia, are increasingly opting for alternatives to the US dollar which are less exposed to geopolitical risks.

More than half of the EURC offer, or $ 127 million, is on the Ethereum network. Solana arrives second with $ 79 million, while the base represents $ 37 million. Avalanche and Stellar hold smaller actions, each below $ 3 million.

Trade tensions and the decrease in fuel from the drop in the EURC

One of the largest contributors to the EURC growth is the devaluation of the dollar against the euro. The current tensions between the United States and its main trade partners have fueled macroeconomic uncertainty, in particular around inflation.

Since January, the US dollar has decreased considerably compared to the euro, lowering From $ 0.98 to $ 0.88largely due to current tariff concerns. This relative drop helped stimulate the attraction and market share of stablescoins supported by the euro.

The EURC also benefited from its full compliance with the strict of the stable mica regulations of the European Union. In particular, the transparency and mica reserve requirements forced USDT and EURT de TETHER on the European market. The USDT being the largest Stablecoin on a global scale, this change has prompted certain European investors to promote an option lengled in euros instead.

However, despite the relative increase in EURC, it is important to note that the stablecoins supported by the USD dominate the market. The stablecoins supported by the USD currently represent 99% of the $ 226 billion in the world’s supply of Stablecoin. Tether’s USDT controls 63%, or 143 billion dollars.