Stablecoin EURC supply hits record high, market value approaches $100 million

BlockBeats reported that on October 24, the supply of the Euro stablecoin EURC hit a record high, with a market value approaching $100 million, thanks to the substantial growth of Base, the Ethereum Layer 2 network incubated by Coinbase.

EURC currently has a circulating supply of 91.8 million, equivalent to a market value of $99.2 million. After EURC was launched in June 2022, its supply jumped to about 80 million by November of that year. However, according to CoinGecko data, the supply subsequently fell sharply and did not return to that level until this month.