Euro Stablecoins Trail Dollar 300-to-1 Onchain — SkimNews
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- Ryan Connor of RockawayX reports that the dollar leads the euro roughly 3-to-1 across the offchain economy but more than 300-to-1 in onchain crypto markets.
- Euro-pegged stablecoins total just €711 million, accounting for under 1% of total stablecoin supply, according to Connor, who attributes the gap to path dependency and a lack of euro DeFi infrastructure.
Why it matters: The €711 million euro-stablecoin supply — under 1% of the market — shows that Europe's regulatory push via MiCA has yet to close a structural deficit in onchain liquidity, leaving euro users dependent on dollar-denominated rails even for European financial activity.
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