Circle executive: EURC's market capitalization has surpassed 50 million euros, potentially making it the largest euro stablecoin by market value

ChainCatcher news, Circle's Senior Director of EU Strategy and Policy Patrick Hansen stated on social media that, based on DefiLlama data, the market capitalization of EURC has surpassed 50 million euros.

In the past week, the market capitalization of EURC has increased by 36%, primarily due to its launch on the Base chain (which already has about 8 million euros in EURC) and growth on the Ethereum chain. At this rate, EURC will soon become the largest euro stablecoin by market capitalization.

For reference: EURC is already the largest MiCA-compliant euro stablecoin. Although AEUR currently has a higher market capitalization, it has ceased issuance and redemption due to the bankruptcy of Switzerland's FlowBank.