Official data from Moonwell's platform

EURC Officially Becomes Largest Euro-Backed Stablecoin by Market Cap, Reaching €26 Million

Oct 1, 2024, 05:41 PM

EURC, Circle's euro-pegged stablecoin, has officially become the largest euro-backed stablecoin by market cap. Since its launch on the Base blockchain in early August, EURC's market cap has surged to approximately €26 million, nearly doubling since the MiCA launch three months ago. Moonwell has integrated EURC into its core markets on Base and Optimism, encouraging users to supply or borrow digital assets. Additionally, xPortal now allows users to manage EURC on Ethereum and Solana, further expanding its accessibility. The growing demand for euro-denominated lending and borrowing is also evident with €10 million supplied across Moonwell's EURC Core Market and Flagship Vault.