EURC’s Supply Reaches an All-time High
The Circle-issued EURC stablecoin has reached a record-breaking circulating supply of over 90 million, thanks to the significant growth on the Ethereum Layer 2 network Base, which is incubated by Coinbase.
EURC currently has a circulating supply of 91.8 million, translating to a market cap of $99.2 million.
Patrick Hansen, the Senior Director of EU Strategy and Policy at Circle, shared on X that EURC, now the largest euro stablecoin by market cap, has been steadily growing in dominance and has finally surpassed the €90 million mark in circulating supply.
After its launch in June 2022, EURC quickly reached a supply of around 80 million by November of that year.
However, it then experienced a significant drop and has only recently recovered to the same levels this month, according to data from CoinGecko.
