Ethereum, Solana, and Base dominate euro stablecoin market with 92% share

Three blockchain networks now control the overwhelming majority of the euro-denominated stablecoin market. Ethereum, Solana, and Base collectively account for 91.5% of all euro stablecoin market capitalization. The total euro stablecoin market cap has reached approximately $835 million as of mid-August 2026. That figure represents a staggering expansion from roughly €50 million at the start of 2024. Ethereum’s grip on the euro Ethereum commands about 69.5% of the euro stablecoin market, translating to somewhere between $579 million and $589 million in euro stablecoin supply on the network. Solana sits in second place with roughly 14.8% of the market. Base, Coinbase’s Layer 2 network built on Ethereum, rounds out the top three at approximately 6.9%. Earlier in August, the total euro stablecoin supply was estimated between $805 million and $811 million, with the same three chains holding similar market shares. MiCA changed everything MiCA-compliant stablecoin supply reached approximately $674 million by mid-2026. That means the vast majority of euro stablecoins in circulation now operate under a recognized regulatory umbrella. Two issuers dominate the supply side. Circle’s EURC often...