Who would have thought that the 'power struggle' for discourse in the euro stablecoin market has long been quietly secured by Ethereum? When the latest data shows that Ethereum's share of the euro stablecoin on-chain has surpassed 50%, many people exclaim 'unexpected', but in my opinion, this is more like the inevitable result of the development of the crypto ecosystem. As an analyst with years of experience in the industry, today I will break down the underlying logic behind this 50% share and help you understand why Ethereum can become the 'preferred habitat' for euro stablecoins.
First, let me share some core insights: the euro stablecoin serves as an important bridge connecting traditional finance and the crypto market, and its on-chain distribution directly reflects the ecological competitiveness of public chains. The fact that Ethereum occupies a significant share is no coincidence; it is fundamentally rooted in three irreplaceable advantages.
First, the absolute barrier to ecological compatibility. Ethereum has developed over the years to build the most complete crypto application ecosystem globally. Whether it's decentralized finance protocols, NFT platforms, or enterprise-level applications, they can almost seamlessly integrate with mainstream Euro stablecoins. For issuers, choosing Ethereum means direct access to a vast user base and application scenarios without needing to rebuild the ecological foundation. In contrast, other public chains either have too niche an ecosystem or face compatibility issues, making it difficult to meet the core demand for 'universality' from Euro stablecoin issuers.
Second, dual guarantees of security and compliance. Among the core user groups of Euro stablecoins are many local institutional investors and traditional enterprises in Europe, who have extremely high demands for the security and compliance of on-chain assets. Ethereum's consensus mechanism has been validated over a long period, placing its security in the industry's top tier. At the same time, its comprehensive smart contract audit system and compliance upgrades (such as energy-saving features post-merge, and compliance adaptations for Layer 2 scaling solutions) align perfectly with European market regulatory requirements for financial innovation. In contrast, some emerging public chains, while performing better, still have significant shortcomings in security validation cycles and compliance ecosystem development.
Third, the siphoning effect of liquidity. In the crypto market, liquidity is the 'lifeline' of assets, and Ethereum, with its deep trading volume, creates a liquidity siphon for Euro stablecoins. Data shows that the daily trading volume of Euro stablecoins on the Ethereum chain is more than three times that of the second-ranked public chain. This liquidity advantage creates a positive feedback loop: More users choose to use Euro stablecoins on Ethereum due to high liquidity, and higher liquidity attracts more issuers and applications, ultimately solidifying its market dominance.
What does this 50% share mean for ordinary investors? It's quite simple; it tells us that Ethereum has taken the lead in linking traditional fiat currencies (especially in the Eurozone) with the crypto market. For investors looking to position themselves in Euro-related crypto assets, prioritizing projects within the Ethereum ecosystem can offer stronger liquidity and security guarantees.
Finally, I want to say one more thing: The competition in the crypto market has never been a one-dimensional comparison; the comprehensive strength of ecology, security, and liquidity is the key to victory. Ethereum's dominance over Euro stablecoins is just a reflection of its ecological advantages. I will continue to track the changes in the market share of Euro stablecoins, as well as the breakthrough attempts of other public chains. If you have questions about investment opportunities in Euro stablecoins or the follow-up layout of the Ethereum ecosystem, follow me @链上标哥 so you don't get lost!
