PANews reported on April 15 that according to CoinDesk, the euro-backed stablecoin EURC issued by Circle has surged to a historical high in supply, possibly due to intensifying US trade tensions and a weakening US dollar, which may have stimulated market demand for euro-denominated digital assets. Data from RWA.xyz shows that EURC's supply has grown by 43% in the past month, reaching 217 million tokens, valued at $246 million, ranking higher than Paxos's Global Dollar (USDG) by market capitalization, but lower than Ripple's RLUSD. Most EURC tokens circulate on the Ethereum network, growing by 35% in a month to 112 million; while EURC on Solana grew the fastest, increasing by 75% in a month to 70 million. EURC supply on Coinbase's Ethereum Layer 2 network Base also grew by 30%, reaching 30 million.

The token's on-chain activity has also increased, with active addresses growing by 66% to 22,000, and monthly transfer volume exceeding $2.5 billion, a 47% increase in a month, according to RWA.xyz data. EURC's accelerated growth may indicate an increasing market demand for diversification of euro-denominated digital assets, especially as global investors cope with the heightened US economic uncertainty brought by potential massive tariffs from the Trump administration. Since the beginning of the year, the US dollar has depreciated against the euro by 9%.