Euro Stablecoins Make a Comeback: Market Cap Doubles Six Months After MiCA Implementation, EURS Soars 644%

[Crypto World] The rebound of euro stablecoins this time is really unexpectedly strong.

After the MiCA bill was implemented in the EU last year, the market initially shrank by almost half, and a lot of people thought euro stablecoins were doomed. The result? By May this year, the market cap had doubled to $680 million. This reversal happened at a textbook-level speed.

The most impressive gain came from Stasis’s EURS, which skyrocketed by 644%. Circle’s EURC wasn’t idle either—after MiCA took effect, its monthly trading volume shot up from tens of millions to $3.83 billion, a nearly ninefold increase. What’s driving this growth? Mainly payment scenarios and trading demand.

Honestly, regulation is a double-edged sword. After the short-term pain, a compliance framework actually gave the market some much-needed reassurance. Now, it looks like the EU’s approach may have really opened a new path for stablecoins—as long as the rules are clear, capital will naturally flow back in.

Of course, $680 million is still tiny compared to dollar stablecoins, but the growth rate speaks for itself. Next, we’ll see if these European projects can truly build out a payment ecosystem—after all, trading volume is one thing, but real-world use cases are the key to long-term success.