The stablecoin economy today is valued at $153 billion. However, euro-backed stablecoins have increased 1,683% since January 3, 2020 when euro-based tokens were $31.9 million in value to $569 million. The number of euro-based stablecoins has increased by 85.34% since November 2021. However, from January 2020 to today, euro stablecoin numbers have dropped 14.17% over the past seven months.

The U.S. dollar is the most important token that the stablecoin economy relies on today. However, there are a few other crypto-fiat coins. Tether manages fiat-pegged crypto assets that are based on the euro and peso.

Tether has recently launched British Pound Sterling and Mexican Peso stabilizecoins. Circle was the stablecoin issuer this is the second major stablecoin that’s 1:1 backed by the euro. Data shows that there are more than half a billion euro-based stablecoins today. That’s about $569 million as of July 31, 2022.

Since the beginning of 2020, the value of the stablecoin-based euro-based economy has increased by 1,683%. Tether’s euro pegged stablecoin, worth $400 million in EURT today, is the largest. Stasis Euro (EURS) issued Stasis has a $124m market cap and Angle Protocol ageur has $44.34 millions worth of AGEUR.

Circle introduced the euro-pegged stablecoin euro currency (EUROC) but the market value is lower than other euro stablecoins. Today, there are approximately 1,020,000.192 EUROC in circulation. The company issued its 2,330 EUROC June 30, 2013. Although Circle’s euro-pegged crypto is small in market cap, it has grown 43,685% since June 30, EUROC’s total valuation.

Comparable to USD-Pegged Stablecoins, the Aggregate Euro Stablecoin Value is a Drop in The Ocean
Stasis euro increased 799.42% from June 5, 2020. AGEUR’s market value fell 74.94%, from 177 million AGEUR today to $44.34million worth of AGEUR. Tether’s EURT is roughly equal to Angle Protocol’s AGEUR. EURT saw $1,451,459 during 24-hour trades, while AGEUR had $1,492,259 for global swaps.

Stasis euro saw the highest trade volume on August 1, 2022 with $13,273,109 global trades. Circle’s EUROC recorded just over $127K 24-hour trade volume. While the number of stablecoins based on euro has increased tremendously since 2020, the amount of stablecoins based on euro has decreased by 14.17% since the beginning of 2022. A few smaller euro-based stablecoin cryptoprojects exist, such as EURST or EUROS.

Furthermore, the euro-pegged stablecoins, despite a 1,683% increase in value over the past two years, are still a drop in an ocean when compared to the whole stablecoin economy. Today, euro crypto assets only make up 0.37% of the total $153 billion stablecoin market. The euro’s value against U.S. dollars has been volatile, despite the fact that the number of stablecoins pegged to euro has increased in recent years. The euro had parity with U.S. dollars in mid-July but it has since risen to $1.02 on August 1.


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Angie Byrd