Ethereum accounts for 69.5% of the euro stablecoin market cap, which totals $810 million across 20 blockchain networks, according to Token Terminal data. The remaining 30.6% of the category is distributed across 19 other chains.
Euro stablecoins, digital assets pegged to the euro, have grown as an alternative to dollar-denominated stablecoins in regions where euro liquidity matters for trading and settlement. Ethereum dominates as a venue for stablecoin issuance and trading more broadly. Bitcoin, Solana, Polygon and other Layer 1 and Layer 2 networks host smaller euro stablecoin pools.
The euro stablecoin category remains dwarfed by dollar stablecoins. USDC and USDT combined hold more than $150 billion across all chains. The $810 million euro stablecoin market is roughly 0.5% of that scale. Euro stablecoin adoption has accelerated in Europe and among institutions seeking settlement efficiency in local currency.
Europa, the largest euro stablecoin, runs on Ethereum and accounts for a material share of the category's Ethereum-based supply. Other euro stablecoins include EURS and EURC, though neither has achieved the scale of dollar alternatives.
The data reflects a snapshot as of early August 2026. Token Terminal tracks stablecoin balances across major blockchain networks by monitoring on-chain holdings and peg stability. The firm publishes periodic updates on stablecoin distribution to track liquidity fragmentation across ecosystems.
Ethereum's 69.5% share means any disruption to euro stablecoin liquidity on the network would force immediate rebalancing pressure across the remaining 19 chains. If Ethereum's euro stablecoin supply drops below 60% of the category total by year-end, it would indicate material adoption on alternative networks.
