Ethereum, Solana and Base hold 91.5% of euro stablecoin market
Key Takeaways
- •Ethereum accounted for approximately 69.5% of the euro stablecoin market, ahead of Solana and Base.
- •The combined market share of Ethereum, Solana and Base reached 91.5% by mid-August 2026.
- •Euro stablecoin market capitalization increased to about $835 million from roughly €50 million at the start of 2024.
- •MiCA-compliant stablecoin supply totaled approximately $674 million by mid-2026.
- •Circle’s EURC and SG Forge’s EURCV together represented more than 80% of euro stablecoins in circulation.
Ethereum, Solana and Base collectively account for 91.5% of the euro-denominated stablecoin market, according to CryptoBriefing.
The total market capitalization of euro stablecoins reached approximately $835 million by mid-August 2026, up sharply from roughly €50 million at the start of 2024.
Ethereum leads the market
Ethereum holds about 69.5% of the euro stablecoin market, representing between $579 million and $589 million in euro stablecoin supply on the network. Solana ranks second with approximately 14.8%, while Base, Coinbase’s Ethereum-based Layer 2 network, holds about 6.9%.
Earlier in August, the total euro stablecoin supply was estimated at between $805 million and $811 million. The same three networks held similar market shares at that time.
MiCA-compliant supply reaches $674 million
MiCA-compliant stablecoin supply reached approximately $674 million by mid-2026. As a result, most euro stablecoins in circulation now operate under a recognized regulatory framework.
The supply is concentrated among two issuers. Circle’s EURC has represented as much as 63% of total euro stablecoin supply, while SG Forge’s EURCV, backed by French banking group Société Générale, also holds a significant share. Combined, the two tokens account for more than 80% of all euro stablecoins in circulation.
Other networks have a limited presence in the market. Gnosis, XRP Ledger, BNB Chain and Avalanche are among approximately 17 additional blockchains hosting euro stablecoins, but together they account for less than 9% of the total market.
