EURC Set to Become the Leading Euro-Backed Stablecoin by Market Cap
CryptoNewsTerminal Staff19 Aug, 2024
EURC Set to Become the Leading Euro-Backed Stablecoin by Market Cap
Patrick Hansen, Circle's director of regulatory affairs for the European Union (EU), has announced that the company's euro-pegged stablecoin, EURC, has experienced a 36% increase in market cap this week. This surge, driven by EURC's launch on Coinbase's Layer 2 network, Base, and the growth of Ethereum (ETH), has propelled EURC to a market cap exceeding €50 million (approximately $55 million). This development positions EURC as a strong contender to become the number one euro-backed stablecoin by market capitalization.
