EURC on-chain activity hits 4-year high amid MiCA implementation

Circle's euro-pegged stablecoin, EURC, has seen its on-chain activity surge to a four-year high following the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation, U.Today reported. According to on-chain analytics platform Santiment, the number of daily active EURC addresses has reached 1,760, with 713 new addresses created, both marking four-year highs. Industry analysts attribute the surge to increased demand for EURC after non-compliant stablecoins were forced out of the European market by MiCA. Circle, the issuer of EURC, holds an Electronic Money Institution (EMI) license in France.