Record Growth of EURC Network Could Signal Major Shift in European Crypto Economy

EURC’s largest-ever increase in addresses and wallets highlights growing interest in regulated euro stablecoins.

Euro Coin (EURC) has seen a surge in on-chain activity, with daily active addresses and new wallet creation reaching unprecedented highs in its four-year history, according to Santiment.

The increase 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.

The biggest chain peak

Circle’s EURC has become one of the leading euro-backed stablecoins in this environment, especially as the use of these tokens continues to expand beyond traditional US dollar trading pairs. Santiment said the latest on-chain data indicates that euro liquidity is becoming increasingly important on blockchain networks.

The analytics firm also linked the increase in activity to recent developments within Circle’s ecosystem, a broader expansion of stablecoins across chains, and a renewed interest in compliant payments infrastructure.

Circle issues EURC through Circle SAS, with the regulated euro-backed stablecoin available on networks including Ethereum. It also continued to expand EURC support to other blockchain ecosystems. This includes enabling USDC and EURC on Cronos while investing in broader stablecoin infrastructure.

Santiment said that while stablecoins do not typically see price surges like other crypto assets, the growing activity around EURC indicates growing underlying demand within the European blockchain-based payments ecosystem.

Stablecoin regulated in Europe

The MiCA-compliant euro stablecoin market currently consists of eight fully permissioned tokens, which offer regulated options for different types of users.

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EURC is the largest in terms of market capitalization and is joined by Société Générale’s EURCV, designed for institutional and wholesale settlement. Monerium issues EURE as a regulated e-money token, while Schuman Financial offers EUROP, a new entrant focused on the European market. StablR’s EURR is a cash-backed euro stablecoin, and Quantoz Payments issues MiCA-compliant EURQ.

EURI, issued through Banking Circle, is among the three largest euro stablecoins by market capitalization, while EURAU is the latest addition launched by AllUnity. The combined market capitalization of the eight tokens has grown from approximately $295 million to $669 million over the past year, an increase of approximately 126%.