Euro Coin (EURC) has recorded its largest-ever surge in on-chain activity, with daily active addresses and new wallet creation reaching all-time highs. The spike, tracked by analytics firm Santiment, signals rising demand for regulated euro-denominated stablecoins as the European Union’s Markets in Crypto-Assets (MiCA) framework takes effect. Circle’s EURC, the largest euro stablecoin by market capitalization, is at the center of this growth, with expanding usage beyond traditional dollar trading pairs. The surge reflects a broader trend of euro liquidity becoming increasingly important across blockchain networks, driven by compliant payment infrastructure and cross-chain expansion.
Euro Coin (EURC) saw a sharp increase in on-chain activity as both daily active addresses and new wallet creation reached all-time highs in its four-year history, according to Santiment.
The surge likely reflects growing demand for regulated euro-denominated stablecoins as the EU’s MiCA framework encourages exchanges, payment providers, and crypto applications to adopt compliant digital assets.
Santiment said the latest on-chain data indicates euro liquidity is becoming increasingly important across blockchain networks. The analytics firm also linked the increase in activity to recent developments within Circle’s ecosystem, broader cross-chain expansion of stablecoins, and renewed interest in compliant payment infrastructure.
Circle issues EURC through Circle SAS, with the regulated euro-backed stablecoin available on networks including Ethereum. It has also continued expanding EURC support across additional blockchain ecosystems.
Santiment said that although stablecoins do not typically experience price rallies like other crypto assets, rising activity around EURC points to growing underlying demand within Europe’s blockchain-based payment ecosystem.
The market for MiCA-compliant euro stablecoins currently consists of eight fully authorized tokens. EURC is the largest by market capitalization and is joined by Société Générale’s EURCV, designed for institutional settlement.
Monerium issues EURE as a regulated e-money token, while Schuman Financial offers EUROP. StablR’s EURR is a cash-backed euro stablecoin, and Quantoz Payments issues the MiCA-compliant EURQ.
EURI, issued through Banking Circle, is among the three largest euro stablecoins by market capitalization, while EURAU is the newest addition, launched by AllUnity. The combined market capitalization of the eight tokens grew from around $295 million to $669 million over the past year, an increase of about 126%.
