Ethereum has solidified its position in the European regulated stablecoin market, accounting for $32 million of the total $39.9 million increase in market capitalization across three networks over the past 30 days. The remaining growth was distributed between the Arc and Base networks.
The total market for euro-denominated stablecoins has expanded from approximately €50 million in early 2024 to about $835 million by mid-August 2026. Ethereum currently controls 69.5% of this market, with a supply ranging between $579 million and $589 million.
Since January 2026, Ethereum has added roughly $125 million in euro stablecoin supply. The sector is dominated by Circle’s EURC and SG-Forge’s EURCV, which together represent over 80% of the total supply. Both assets comply with the EU’s Markets in Crypto-Assets framework.
The Arc network, which launched its public mainnet on September 16, 2026, has deployed approximately $7 million in EURC. The platform is designed for stablecoin-native payments and foreign exchange, though its operation by Circle, the issuer of EURC, has been noted for potential conflicts of interest.
