Token Terminal: Euro-Stablecoin Market Surpasses $810 Million

The market for euro-pegged stablecoins is showing slow growth. According to Token Terminal data as of August 5, its market capitalization has exceeded $810 million. The main growth driver is the $EURC stablecoin from Circle, which holds a 65% market share (approximately $526 million).

In second place is EURCV, issued by SG-Forge (a Societe Generale structure), with a 16.7% share. The remaining 23 stablecoins collectively control only 18.3% of the capitalization, reflecting both the sector's fragmentation and its dynamic development.

Euro-stablecoins are currently circulating on 20 different blockchains. Ethereum remains the undisputed leader in terms of total value locked, accounting for 69.5% of the market. Solana (15.1%) and Coinbase's Base network (7.2%) also hold notable shares.

Experts link the strengthening position of euro-stablecoins to the entry into force of the European Markets in Crypto-Assets (MiCA) regulation in June 2024. The regulatory act has created a more transparent regulatory environment, and the entry of institutional players like Societe Generale confirms the sector's maturation. For market participants, this means expanding tools for hedging dollar volatility and simplifying operations on European platforms.