📣 Euro vs. Euro-Pegged Stablecoins: A Report by Kaiko
posted 17 Jan 2024
Kaiko's latest report highlights significant growth in the European cryptocurrency market, with trading volumes involving the euro tripling over the past three months to reach $16 billion.
Cryptocurrency exchanges offer trading pairs in both conventional euros and a variety of EUR-pegged stablecoins. Presently, traders overwhelmingly opt for the fiat euro in 99.06% of transactions, suggesting a wariness towards euro-linked stablecoins. In stark contrast, fiat USD is used in only 10.22% of dollar-based pairs.
Despite this, the market is expanding, partially driven by the evolving MiCa regulatory framework, which is attracting venture capital into the crypto sector.
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