10% to 56%: USDC’s remarkable rise in euro-paired stablecoin trading

Since December 2023, USD Coin [USDC] has increased its market share of euro-paired stablecoin trade from 10% to 56% as of October. While at the end of 2024, euro-paired stablecoin trade volume reached levels near $10 billion per month before declining in subsequent months. As a result of MiCA restrictions on Tether [USDT], the number of transactions using USDC increased. This gave USDC an advantage as it pushed more trading activity toward USDC.