Stablecoin, EURC, backed by euro, ERC, increased a record offer as the US commercial tensions increased and a weakening dollar probably combines the demand for digital assets called euros.
ERC’s offer grew 43% during the past month to 217 million tokens worth $ 246 million, classifying above the global paxos dollar (USDG) and below RIPPLE RLUSD per market capitalization, as shown by the data RWA.XYZ. Most EURC tokens circulate on the Ethereum Network, 35% in a month to 112 million, while Solana saw the fastest expansion of 75% to 70 million tokens. Base, Coinbase Ethereum layer 2 also saw a 30% growth in 30 million in the ERC supply.
The Token also experienced an increase in the activity in the chain, with active addresses that increase from 66% to 22,000 and the monthly transfer volume that exceeds $ 2.5 billion, an increase of 47% in a month, by Rwa.xyz.
ERC is currently the largest euro stable in the market, but stays far behind its counterparts called in dollars. Stelcoins with dollar paving constitute 99% of the rapid stablecoin market, led by the token of $ 58 billion 58 billion dollars of Circle and its rival of $ 143 billion token of USDT.
The accelerated growth of ERC could be a sign of growing demand for diversification to digital assets called in euro, particularly as global investors sail for the growing economic uncertainties in the United States with the launch of large -scale rates of the Trump administration. The Greenback weakened 9% against the euro since the beginning of the year.
Xapo Bank, a Bitcoin -centered financial services firm based in Gibraltar, on Monday reported a 50% increase in Euro deposits volumes during the first quarter, exceeding 20% increase in USDC establishment deposits. Meanwhile, USDT deposits decreased by more than 13%.
“This rapid increase in volume occurred in the midst of a growing concern for the future of the primacy of the US dollar and the threat of an American recession as the markets prepared for the ‘day of liberation’ planned by Trump ‘in April,” said the signature in the report.
Stablecoin exchange volumes between currency pairs in decentralized exchanges based on Ethereum also rose to the maximum of several years last week, dominated by the Eur-Use dollar pair, showed the blockworks data.
It is likely that ERC has also benefited from the withdrawal of Tether of its stablecoin (EURT) backed by euro, with mica regulations throughout the EU in force this year, while several exchanges eliminated the USDT so that EU users comply with the regulations, including the binance at the end of March.
