Euro Stablecoin Market Cap Doubles in Year After MiCA, Study Finds

The market capitalization for euro-pegged stablecoins has doubled in the year since the EU's Markets in Crypto-Assets Regulation (MiCA) took effect in June 2024, according to a report by Decta. This surge contrasts sharply with the 48% contraction the market experienced in the year prior to MiCA, although the total euro stablecoin market cap of $680 million remains a small fraction of the $300 billion held in USD-pegged tokens. Growth was significantly driven by tokens like EURS (Stasis), which soared 644%, and increased transaction volume, which rose nearly ninefold to $3.83 billion monthly, benefiting EURC and EURCV. The report also noted a substantial increase in consumer awareness and search activity across the EU following the regulation.

(Source：CoinDesk)