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euri

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Deandrea Vivian ApSk
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EURI has been ranging around $105 for 3 months, but the trading volume of euro stablecoins has skyrocketed from €2 billion in Q1 2023 to €25 billion in Q2 2024, a 12-fold increase. The price has remained stagnant, which is not a market failure, but rather a fundamental shift in pricing logic — the transformation of stablecoins from speculative tools to payment infrastructure is reshaping the valuation system. On-chain data reveals structural differentiation: the surge in euro stablecoin trading volume primarily comes from Circle's EURC and Coinbase's EURT, while the number of active addresses for EURI has only increased by 14% during the same period, far below the growth rate of trading volume. This indicates that capital flow is concentrated in a few high-frequency payment scenarios rather than retail speculation. In terms of funding rates, EURI's perpetual contracts have averaged a funding rate of -0.003% over the past 90 days, showing almost no signs of long-position congestion, in stark contrast to the +0.01% positive rate during the USDC bull market in 2021. Open interest has shrunk from a peak of €18 million to the current €6 million, indicating that institutional funds are withdrawing rather than increasing their positions. From a macro narrative perspective, the explosion of USDC in 2021 benefited from the DeFi mining craze and the influx of compliant funds, creating positive feedback between market cap and price. The current core driver of euro stablecoin growth is cross-border B2B payments and compliant DeFi protocols in the Eurozone (like Aave V3's GHO), which are highly insensitive to price — enterprise users do not need EURI to appreciate, just stable exchange rates and settlement efficiency. This explains why the surge in trading volume does not translate to price. The risk point lies in the fact that the circulation of EURI has grown from 28 million coins in Q1 2023 to the current 120 million coins, with a supply growth rate (328%) far exceeding the trading volume growth rate (12-fold), accumulating inflationary pressure. If there is a tightening of regulation in the euro stablecoin space (such as the implementation of MiCA regulations), oversupply could push the price towards €0.95. To sum up: EURI is currently a payment tool, not a speculative asset — the valuation anchor has shifted from liquidity premium to settlement efficiency, and the sideways movement itself is the result of pricing. If you want to play the euro stablecoin narrative, you should pay more attention to on-chain activity turning points rather than price fluctuations. #EURI #Stablecoin #Crypto
EURI has been ranging around $105 for 3 months, but the trading volume of euro stablecoins has skyrocketed from €2 billion in Q1 2023 to €25 billion in Q2 2024, a 12-fold increase. The price has remained stagnant, which is not a market failure, but rather a fundamental shift in pricing logic — the transformation of stablecoins from speculative tools to payment infrastructure is reshaping the valuation system.

On-chain data reveals structural differentiation: the surge in euro stablecoin trading volume primarily comes from Circle's EURC and Coinbase's EURT, while the number of active addresses for EURI has only increased by 14% during the same period, far below the growth rate of trading volume. This indicates that capital flow is concentrated in a few high-frequency payment scenarios rather than retail speculation. In terms of funding rates, EURI's perpetual contracts have averaged a funding rate of -0.003% over the past 90 days, showing almost no signs of long-position congestion, in stark contrast to the +0.01% positive rate during the USDC bull market in 2021. Open interest has shrunk from a peak of €18 million to the current €6 million, indicating that institutional funds are withdrawing rather than increasing their positions.

From a macro narrative perspective, the explosion of USDC in 2021 benefited from the DeFi mining craze and the influx of compliant funds, creating positive feedback between market cap and price. The current core driver of euro stablecoin growth is cross-border B2B payments and compliant DeFi protocols in the Eurozone (like Aave V3's GHO), which are highly insensitive to price — enterprise users do not need EURI to appreciate, just stable exchange rates and settlement efficiency. This explains why the surge in trading volume does not translate to price.

The risk point lies in the fact that the circulation of EURI has grown from 28 million coins in Q1 2023 to the current 120 million coins, with a supply growth rate (328%) far exceeding the trading volume growth rate (12-fold), accumulating inflationary pressure. If there is a tightening of regulation in the euro stablecoin space (such as the implementation of MiCA regulations), oversupply could push the price towards €0.95.

To sum up: EURI is currently a payment tool, not a speculative asset — the valuation anchor has shifted from liquidity premium to settlement efficiency, and the sideways movement itself is the result of pricing. If you want to play the euro stablecoin narrative, you should pay more attention to on-chain activity turning points rather than price fluctuations.

#EURI #Stablecoin #Crypto
$EURI 1H Market Outlook: Bears Still Hold the Edge The current market structure remains bearish, with price continuing to trade under key resistance levels. A decisive break below 1.1448 could trigger the next leg lower, opening the door for a move toward the 1.1413 support zone. However, traders should stay alert for a potential liquidity grab. If price sweeps below 1.1448 and quickly reclaims the level with a strong bullish pin bar or engulfing candle, a relief rally toward 1.1477 and potentially the 1.1493 equilibrium zone becomes increasingly likely. Trade Scenarios: Bearish Setup: • Entry: Rejection between 1.1458–1.1477 following a confirmed breakdown of 1.1448 • Target: 1.1413 • Stop Loss: Above the swing high formed during the retest Bullish Reversal Setup: • Entry: Liquidity sweep below 1.1448 followed by a strong reclaim above 1.1450 • TP1: 1.1477 • TP2: 1.1493 • Stop Loss: Below the newly formed swing low Key Confirmation Signals: • Bullish or bearish engulfing candles • Strong rejection wicks • Lower timeframe market structure shifts Market Bias Update: The bearish outlook remains intact unless price achieves a strong reclaim of 1.1493 and successfully holds above 1.1538, which would signal a potential trend reversal in favor of the bulls. Patience and confirmation remain the keys to high-probability entries. #EURI #CryptoTrading #NasdaqEndsSessionUp2% #TradingSignals #TechnicalAnalysis $EURI {spot}(EURIUSDT)
$EURI 1H Market Outlook: Bears Still Hold the Edge

The current market structure remains bearish, with price continuing to trade under key resistance levels. A decisive break below 1.1448 could trigger the next leg lower, opening the door for a move toward the 1.1413 support zone.

However, traders should stay alert for a potential liquidity grab. If price sweeps below 1.1448 and quickly reclaims the level with a strong bullish pin bar or engulfing candle, a relief rally toward 1.1477 and potentially the 1.1493 equilibrium zone becomes increasingly likely.

Trade Scenarios:

Bearish Setup: • Entry: Rejection between 1.1458–1.1477 following a confirmed breakdown of 1.1448 • Target: 1.1413 • Stop Loss: Above the swing high formed during the retest

Bullish Reversal Setup: • Entry: Liquidity sweep below 1.1448 followed by a strong reclaim above 1.1450 • TP1: 1.1477 • TP2: 1.1493 • Stop Loss: Below the newly formed swing low

Key Confirmation Signals: • Bullish or bearish engulfing candles • Strong rejection wicks • Lower timeframe market structure shifts

Market Bias Update: The bearish outlook remains intact unless price achieves a strong reclaim of 1.1493 and successfully holds above 1.1538, which would signal a potential trend reversal in favor of the bulls.

Patience and confirmation remain the keys to high-probability entries.

#EURI #CryptoTrading #NasdaqEndsSessionUp2% #TradingSignals #TechnicalAnalysis $EURI
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Bullish
"The next movement zone for $EUR is here. If you are thinking about trading the Euro, I know there are very few people here who trade Forex. However, if you do, this is the most important zone for you. You should not miss this opportunity. The most accurate zone has arrived. Take your positions and let's turn these trades into whales !!! $EURI #EUR #EURUSD #EURI {spot}(EURUSDT)
"The next movement zone for $EUR is here. If you are thinking about trading the Euro, I know there are very few people here who trade Forex. However, if you do, this is the most important zone for you. You should not miss this opportunity. The most accurate zone has arrived. Take your positions and let's turn these trades into whales !!! $EURI #EUR #EURUSD #EURI
ATH/ATL Watch 🎯 Getting close to all-time highs: $QQQB - 3.4% away $EURI - 4.6% away Near all-time lows: $XRP - 1.9% away ATH breakouts often signal strong momentum. ATL bounces can be interesting reversal plays. Always DYOR. Your thoughts? #EURI #XRP #QQQB #Trending #MarketUpdate 📱 Follow @PoorCryptoMan
ATH/ATL Watch 🎯

Getting close to all-time highs:
$QQQB - 3.4% away
$EURI - 4.6% away

Near all-time lows:
$XRP - 1.9% away

ATH breakouts often signal strong momentum. ATL bounces can be interesting reversal plays. Always DYOR.

Your thoughts?
#EURI #XRP #QQQB #Trending #MarketUpdate

📱 Follow @PoorCryptoMan
the current range on $EURI, with roughly 46x on the setup, is holding the dip better than expected Entry: 1.1605–1.1606 | TP1: 1.1874 / TP2: 1.207 / TP3: 1.2412 | Stop Loss: 1.142 #EURI #binance #crypto #Write2Earn!
the current range on $EURI , with roughly 46x on the setup, is holding the dip better than expected

Entry: 1.1605–1.1606 | TP1: 1.1874 / TP2: 1.207 / TP3: 1.2412 | Stop Loss: 1.142

#EURI #binance #crypto #Write2Earn!
still tracking $EURI, is finding buyers again around the pullback zone Entry: 1.1581–1.1585 TP1: 1.1841 | TP2: 1.2061 | TP3: 1.2319 Stop Loss: 1.1397 #EURI #Binance #Write2Earn! #crypto
still tracking $EURI , is finding buyers again around the pullback zone

Entry: 1.1581–1.1585
TP1: 1.1841 | TP2: 1.2061 | TP3: 1.2319
Stop Loss: 1.1397

#EURI #Binance #Write2Earn! #crypto
$EURIUSDT breaks below $1.1578, -0.138%, the short trend is clear! 4h MACD bearish: dead cross and cross bearish; bulls lack strength to rebound, and the 1d downtrend channel is suppressing. Current price $1.1578; missed the short entry—aim for $1.1400, with a stop loss at $1.1650. Pullbacks are a trap—if support breaks, don’t hesitate, run now! Don’t wait for bad news to be covered up—whoever it drops to bears the responsibility! #EURI #空单 #跑得快的才赚钱 💥
$EURIUSDT breaks below $1.1578, -0.138%, the short trend is clear!
4h MACD bearish: dead cross and cross bearish; bulls lack strength to rebound, and the 1d downtrend channel is suppressing.
Current price $1.1578; missed the short entry—aim for $1.1400, with a stop loss at $1.1650.
Pullbacks are a trap—if support breaks, don’t hesitate, run now!
Don’t wait for bad news to be covered up—whoever it drops to bears the responsibility!
#EURI #空单 #跑得快的才赚钱 💥
just noticed this, $EURI gave a controlled pullback and the trend is trying to continue, so I’m working with about 23x Entry: 1.1598–1.1599 TP1: 1.1861 → TP2: 1.2083 → TP3: 1.2375 Stop Loss: 1.1413 #EURI #crypto #Write2Earn! #binance
just noticed this, $EURI gave a controlled pullback and the trend is trying to continue, so I’m working with about 23x

Entry: 1.1598–1.1599
TP1: 1.1861 → TP2: 1.2083 → TP3: 1.2375
Stop Loss: 1.1413

#EURI #crypto #Write2Earn! #binance
the current range on $EURI, with a 30x leverage plan, gave a controlled pullback and the trend is trying to continue Entry: 1.169–1.1692 | Stop Loss: 1.1504 TP1: 1.1973 / TP2: 1.2178 / TP3: 1.2518 #EURI #Crypto #binance #Write2Earn!
the current range on $EURI , with a 30x leverage plan, gave a controlled pullback and the trend is trying to continue

Entry: 1.169–1.1692 | Stop Loss: 1.1504
TP1: 1.1973 / TP2: 1.2178 / TP3: 1.2518

#EURI #Crypto #binance #Write2Earn!
the current range on $EURI, while I keep leverage near 20x, is holding the dip better than expected Entry: 1.1686–1.1691 TP1: 1.196 | TP2: 1.2161 | TP3: 1.2476 Stop Loss: 1.1501 #EURI #Binance #crypto #Write2Earn
the current range on $EURI , while I keep leverage near 20x, is holding the dip better than expected

Entry: 1.1686–1.1691
TP1: 1.196 | TP2: 1.2161 | TP3: 1.2476
Stop Loss: 1.1501

#EURI #Binance #crypto #Write2Earn
alright, $EURI is finding buyers again around the pullback zone, keeping roughly 23x in play Entry: 1.1692–1.1693 TP1: 1.1964 / TP2: 1.2186 / TP3: 1.2474 Stop Loss: 1.1506 #EURI #Crypto #binance #Write2Earn
alright, $EURI is finding buyers again around the pullback zone, keeping roughly 23x in play

Entry: 1.1692–1.1693
TP1: 1.1964 / TP2: 1.2186 / TP3: 1.2474
Stop Loss: 1.1506

#EURI #Crypto #binance #Write2Earn
okay, $EURI tried to recover but the bounce is losing energy again Entry: 1.1554–1.1555 TP1: 1.1274 / TP2: 1.1047 / TP3: 1.0749 Stop Loss: 1.1739 #EURI #Binance #Write2Earn! #crypto
okay, $EURI tried to recover but the bounce is losing energy again

Entry: 1.1554–1.1555
TP1: 1.1274 / TP2: 1.1047 / TP3: 1.0749
Stop Loss: 1.1739

#EURI #Binance #Write2Earn! #crypto
this is getting interesting, $EURI pulled back without breaking structure and buyers are stepping back in Entry: 1.1549–1.1553 | Stop Loss: 1.1366 TP1: 1.1828 / TP2: 1.2053 / TP3: 1.2341 #EURI #Crypto #Write2Earn #binance
this is getting interesting, $EURI pulled back without breaking structure and buyers are stepping back in

Entry: 1.1549–1.1553 | Stop Loss: 1.1366
TP1: 1.1828 / TP2: 1.2053 / TP3: 1.2341

#EURI #Crypto #Write2Earn #binance
watching $EURI, with a 70x leverage plan, gave a controlled pullback and the trend is trying to continue Entry: 1.1672–1.1673 TP1: 1.194 → TP2: 1.2144 → TP3: 1.245 Stop Loss: 1.1486 #EURI #Write2Earn #Binance #Crypto
watching $EURI , with a 70x leverage plan, gave a controlled pullback and the trend is trying to continue

Entry: 1.1672–1.1673
TP1: 1.194 → TP2: 1.2144 → TP3: 1.245
Stop Loss: 1.1486

#EURI #Write2Earn #Binance #Crypto
🔴 Recommendation & Analysis | $EURI/USDT 📉 Trend: Bearish (SHORT) 💰 Price: 1.1626 ⏱️ Timeframe: 30m 📊 MACD Bearish Crossover 🔎 Analysis: A bearish MACD crossover on the 30-minute timeframe indicates weakening momentum and a likely move of the price toward lower support levels. 📍 Entry: 1.1615 – 1.1635 🎯 Targets: 1️⃣ 1.1595 2️⃣ 1.1575 3️⃣ 1.1550 🛑 Stop Loss: 1.1660 ⚠️ The technical signal does not guarantee the continuation of the downtrend; capital management is important. ❤️ Your support makes a difference to me #EURI $EURI
🔴 Recommendation & Analysis | $EURI /USDT

📉 Trend: Bearish (SHORT)
💰 Price: 1.1626
⏱️ Timeframe: 30m
📊 MACD Bearish Crossover

🔎 Analysis: A bearish MACD crossover on the 30-minute timeframe indicates weakening momentum and a likely move of the price toward lower support levels.

📍 Entry: 1.1615 – 1.1635

🎯 Targets:
1️⃣ 1.1595
2️⃣ 1.1575
3️⃣ 1.1550

🛑 Stop Loss: 1.1660

⚠️ The technical signal does not guarantee the continuation of the downtrend; capital management is important.

❤️ Your support makes a difference to me

#EURI $EURI
🟢 Coin of the Hour: $EURI EURIUSDT is catching eyes as it hovers near its 24h low of 1.147, currently priced at 1.1475. 📉 Despite a -0.63% 24h change, its impressive trading volume of 6,107,661 USDT indicates strong activity. The 1h RSI is extremely low at 8.25, often signaling an oversold condition. Price is also below both the SMA 20 (1.153790) and SMA 50 (1.154186), reinforcing the current downward momentum. ⚡ Why this coin? A notable mix of price movement and trading volume. This robust volume amidst a minor dip suggests potential interest. Will it bounce soon from these levels? 📈 Quick fact: 38 of 65 tracked USDT pairs are currently trading lower over 24 hours. What are your thoughts on EURI's next move? 🤔 #EURI #Crypto #BinanceSquare #Altcoin #Trading Not financial advice. DYOR.
🟢 Coin of the Hour: $EURI
EURIUSDT is catching eyes as it hovers near its 24h low of 1.147, currently priced at 1.1475. 📉 Despite a -0.63% 24h change, its impressive trading volume of 6,107,661 USDT indicates strong activity. The 1h RSI is extremely low at 8.25, often signaling an oversold condition. Price is also below both the SMA 20 (1.153790) and SMA 50 (1.154186), reinforcing the current downward momentum. ⚡

Why this coin?
A notable mix of price movement and trading volume.

This robust volume amidst a minor dip suggests potential interest. Will it bounce soon from these levels? 📈
Quick fact:
38 of 65 tracked USDT pairs are currently trading lower over 24 hours.
What are your thoughts on EURI's next move? 🤔

#EURI #Crypto #BinanceSquare #Altcoin #Trading

Not financial advice. DYOR.
EURI (EURITE) — MARKET ANALYSIS 🇪🇺💶 $EURI ISN’T A TYPICAL ALTCOIN — IT’S A EURO STABLECOIN, AND THAT CHANGES THE GAME. Current price: ~$1.157 24H: ~flat Market cap: ~$38.3M 24H volume: ~$11.6M Circulating supply: ~33M EURI Bias: 🟢 Stable / Neutral-Bullish Main driver: EUR/USD + adoption, not speculative pumps. 📊 KEY LEVELS 🟢 Peg zone: €1.00 🟢 Immediate support: ~$1.15 🟢 Major support: ~$1.14 🔴 Resistance: ~$1.16–1.17 🚀 EUR strength: A sustained EUR/USD move above ~$1.16 can push EURI/USD higher. The important point: EURI is designed to track €1, so a move against USD primarily reflects changes in the euro-dollar exchange rate rather than an independent crypto rally. 🔥 WHY EURI IS GETTING ATTENTION • 1:1 euro-backed stablecoin • Issued by Banking Circle • Designed under the MiCA regulatory framework • Available on Ethereum + BNB Smart Chain • Listed on Binance • Smart contract audited by PeckShield • Built for trading, payments and DeFi use cases. Binance has also integrated EURI more deeply, including its use as VIP loan collateral, increasing its utility inside the exchange ecosystem. 🧠 MACRO FACTOR TO WATCH EUR/USD is currently around 1.157, with ING seeing short-term fair value around 1.160–1.165 and maintaining a bullish euro bias. That could provide upside pressure to EURI's USD-denominated price while the euro strengthens. 🎯 PROFESSIONAL TAKE Bullish case: EUR/USD strengthens → EURI/USD can move toward $1.16–$1.17+. Neutral case: EUR/USD stays range-bound → EURI remains close to its current USD value. Risk case: Euro weakness → EURI/USD declines even though its €1 peg remains intact. ⚠️ The biggest mistake would be treating EURI like SOL, XRP or BTC. Its objective is stability, not a 2× or 5× speculative move. Would you rather hold a euro-backed stablecoin like EURI or a dollar-backed stablecoin? #EURI #Eurite #Crypto #Stablecoin #MiCA {spot}(EURIUSDT)
EURI (EURITE) — MARKET ANALYSIS 🇪🇺💶

$EURI ISN’T A TYPICAL ALTCOIN — IT’S A EURO STABLECOIN, AND THAT CHANGES THE GAME.

Current price: ~$1.157
24H: ~flat
Market cap: ~$38.3M
24H volume: ~$11.6M
Circulating supply: ~33M EURI
Bias: 🟢 Stable / Neutral-Bullish
Main driver: EUR/USD + adoption, not speculative pumps.

📊 KEY LEVELS

🟢 Peg zone: €1.00
🟢 Immediate support: ~$1.15
🟢 Major support: ~$1.14
🔴 Resistance: ~$1.16–1.17
🚀 EUR strength: A sustained EUR/USD move above ~$1.16 can push EURI/USD higher.

The important point: EURI is designed to track €1, so a move against USD primarily reflects changes in the euro-dollar exchange rate rather than an independent crypto rally.

🔥 WHY EURI IS GETTING ATTENTION

• 1:1 euro-backed stablecoin
• Issued by Banking Circle
• Designed under the MiCA regulatory framework
• Available on Ethereum + BNB Smart Chain
• Listed on Binance
• Smart contract audited by PeckShield
• Built for trading, payments and DeFi use cases.

Binance has also integrated EURI more deeply, including its use as VIP loan collateral, increasing its utility inside the exchange ecosystem.

🧠 MACRO FACTOR TO WATCH

EUR/USD is currently around 1.157, with ING seeing short-term fair value around 1.160–1.165 and maintaining a bullish euro bias. That could provide upside pressure to EURI's USD-denominated price while the euro strengthens.

🎯 PROFESSIONAL TAKE

Bullish case:
EUR/USD strengthens → EURI/USD can move toward $1.16–$1.17+.

Neutral case:
EUR/USD stays range-bound → EURI remains close to its current USD value.

Risk case:
Euro weakness → EURI/USD declines even though its €1 peg remains intact.

⚠️ The biggest mistake would be treating EURI like SOL, XRP or BTC. Its objective is stability, not a 2× or 5× speculative move.

Would you rather hold a euro-backed stablecoin like EURI or a dollar-backed stablecoin?

#EURI #Eurite #Crypto #Stablecoin #MiCA
The euro stablecoin's quarterly trading volume skyrocketed from €2 billion to €25 billion, a 12x increase, but the EURI price has remained stuck around $1.05 for 3 months. This divergence isn't something the market missed; it's that the pricing logic has flipped the script—back in 2021, USDC's market cap and price surged in tandem due to compliance-driven hype, as the market directly linked stablecoin growth to speculative demand. Now, the market views the euro stablecoin explosion as an expansion of payment infrastructure, not a return to speculative tools. 1️⃣ On-chain data: Trading volume growth ≠ Speculative liquidity influx The core driver of the 12x growth in euro stablecoin trading volume comes from cross-border payments and institutional settlements, not DeFi speculation. In contrast to 2021's USDC, where the market cap jumped from €4 billion to €55 billion and on-chain DEX trading volume surged, forming a positive feedback loop. However, the number of active on-chain addresses for EURI hasn't increased in sync; transfers are mostly concentrated among a few institutional wallets. This means that the trading volume growth is a "pipeline expansion," not "pool filling"—liquidity hasn't spilled over into the trading market, so the price naturally consolidates. 2️⃣ Funding rates and positions: The "zombie consolidation" in the absence of speculative positions EURI perpetual contract funding rates have fluctuated below 0.01% for 8 weeks, significantly lower than the 0.05%-0.1% rates for USDC during the same period in 2021. Open interest has only grown by 15% since June, while the total market cap of euro stablecoins has increased by about 80%. This indicates that traders have virtually zero pricing power over EURI—there are no leveraged longs or shorts; the price is purely determined by spot supply and demand. On the spot side, holders are mostly institutions engaged in payment settlements, not trading or arbitraging. 3️⃣ Macro narrative: The "payment premium" for euro stablecoins hasn’t been priced in yet The compliance narrative for USDC in 2021 (Circle obtaining a New York trust license) directly ignited speculative sentiment, as the market believed compliance = mainstream adoption = price increase. However, for euro stablecoins in 2024, the regulatory framework (MiCA) has been established, and the market views it as the completion of "compliance infrastructure" rather than a speculative catalyst. The underlying demand for EURI—cross-border payments in the eurozone (approximately €15 trillion daily) and euro collateral in DeFi lending—has yet to be priced in by the market. If future DeFi protocols use EURI as native collateral, or if eurozone banks connect to the EURI settlement network, this "payment premium" will be re-priced. 4️⃣ Risk points: Liquidity trap and regulatory fragmentation EURI's liquidity depth is only 1/50th that of USDC; if a large institution sells off, the price could be unanchored in an instant. Additionally, the European Central Bank's regulatory stance on stablecoins is more cautious than that of the U.S.; if MiCA subsequently requires reserve assets to be 100% held by eurozone banks, it could increase operational costs and suppress supply growth. In summary: EURI's consolidation isn't a market blunder; it's the market waiting for a switch to flip from "payment infrastructure → speculative tool"—this switch might be hidden in an integration announcement from a DeFi protocol or in the settlement test results from eurozone banks. Until then, the price consolidation itself is the most honest pricing against the fundamentals. #EURI #Stablecoin #Crypto
The euro stablecoin's quarterly trading volume skyrocketed from €2 billion to €25 billion, a 12x increase, but the EURI price has remained stuck around $1.05 for 3 months. This divergence isn't something the market missed; it's that the pricing logic has flipped the script—back in 2021, USDC's market cap and price surged in tandem due to compliance-driven hype, as the market directly linked stablecoin growth to speculative demand. Now, the market views the euro stablecoin explosion as an expansion of payment infrastructure, not a return to speculative tools.

1️⃣ On-chain data: Trading volume growth ≠ Speculative liquidity influx
The core driver of the 12x growth in euro stablecoin trading volume comes from cross-border payments and institutional settlements, not DeFi speculation. In contrast to 2021's USDC, where the market cap jumped from €4 billion to €55 billion and on-chain DEX trading volume surged, forming a positive feedback loop. However, the number of active on-chain addresses for EURI hasn't increased in sync; transfers are mostly concentrated among a few institutional wallets. This means that the trading volume growth is a "pipeline expansion," not "pool filling"—liquidity hasn't spilled over into the trading market, so the price naturally consolidates.

2️⃣ Funding rates and positions: The "zombie consolidation" in the absence of speculative positions
EURI perpetual contract funding rates have fluctuated below 0.01% for 8 weeks, significantly lower than the 0.05%-0.1% rates for USDC during the same period in 2021. Open interest has only grown by 15% since June, while the total market cap of euro stablecoins has increased by about 80%. This indicates that traders have virtually zero pricing power over EURI—there are no leveraged longs or shorts; the price is purely determined by spot supply and demand. On the spot side, holders are mostly institutions engaged in payment settlements, not trading or arbitraging.

3️⃣ Macro narrative: The "payment premium" for euro stablecoins hasn’t been priced in yet
The compliance narrative for USDC in 2021 (Circle obtaining a New York trust license) directly ignited speculative sentiment, as the market believed compliance = mainstream adoption = price increase. However, for euro stablecoins in 2024, the regulatory framework (MiCA) has been established, and the market views it as the completion of "compliance infrastructure" rather than a speculative catalyst. The underlying demand for EURI—cross-border payments in the eurozone (approximately €15 trillion daily) and euro collateral in DeFi lending—has yet to be priced in by the market. If future DeFi protocols use EURI as native collateral, or if eurozone banks connect to the EURI settlement network, this "payment premium" will be re-priced.

4️⃣ Risk points: Liquidity trap and regulatory fragmentation
EURI's liquidity depth is only 1/50th that of USDC; if a large institution sells off, the price could be unanchored in an instant. Additionally, the European Central Bank's regulatory stance on stablecoins is more cautious than that of the U.S.; if MiCA subsequently requires reserve assets to be 100% held by eurozone banks, it could increase operational costs and suppress supply growth.

In summary: EURI's consolidation isn't a market blunder; it's the market waiting for a switch to flip from "payment infrastructure → speculative tool"—this switch might be hidden in an integration announcement from a DeFi protocol or in the settlement test results from eurozone banks. Until then, the price consolidation itself is the most honest pricing against the fundamentals.

#EURI #Stablecoin #Crypto
The trading volume of the Euro stablecoin skyrocketed from €2 billion to €25 billion, a 12x growth, but EURI has been ranging around $105 for over 3 months—this data might lead most to instinctively think 'it's undervalued.' However, a closer look at the on-chain structure and capital flows reveals that the market pricing logic is completely different from the 2021 USDC. 1️⃣ On-Chain Data: Volume Growth ≠ Speculative Demand for EURI The surge in Euro stablecoin trading volume is primarily driven by cross-border payments and institutional settlements, not retail speculation. On-chain data shows that over 80% of EURI's on-chain transfers come from compliant wallets and liquidity provisioning between CEXs, rather than trading pairs on DEXs. In contrast to 2021's USDC, where trading volume surged alongside DeFi lending and on-chain leverage expansion, with funding rates peaking at 0.1%/8h, EURI's perpetual contract market funding rate has consistently remained below 0.01%, with almost no arbitrage funds involved. This indicates that the volume increase represents 'pipeline flow' of the underlying infrastructure, not speculative capital chasing price swings. 2️⃣ Funding Rates and Positions: Institutional Arbitrage vs. Retail FOMO EURI's perpetual contract open interest has only grown by 15% over the past 3 months, far below the simultaneous increase in trading volume. Funding rates have remained close to neutral (+0.002% to -0.005%), indicating that market participants are primarily using EURI for hedging or settlement, rather than betting on direction. In comparison to 2021's USDC, where funding rates often spiked to 0.05%/8h under compliance news, the long-short ratio fluctuated wildly. Currently, EURI's funding rates are as stable as a government bond yield curve, with institutions using it as a hedging tool for cross-border payments while retail has virtually no participation. 3️⃣ Macro Narrative: Regulatory Benefits but Changed Pricing Logic The compliance process for the Euro stablecoin has progressed faster than that of USDC back in the day: Following the implementation of the MiCA framework, giants like Circle and Binance are ramping up Euro stablecoin issuance, but the market views this growth as standard for 'payment infrastructure,' not speculative assets. In 2021, USDC was seen as the 'liquidity cornerstone of DeFi' in response to regulatory pushes, with its price highly correlated to on-chain TVL; meanwhile, the underlying demand for Euro stablecoins is primarily in cross-border payments (e.g., businesses settling supply chain accounts with EURI), with the TVL of Euro pools in on-chain DeFi accounting for only 8% of EURI's total circulation, leading to almost zero speculative premium. 4️⃣ Risk Points: Liquidity Traps and Regulatory Arbitrage EURI's liquidity is concentrated in a few CEXs, with DEX depth under €500,000. If a large-scale redemption occurs or regulatory policies shift (like the ECB directly issuing a digital Euro), prices could decouple rapidly. Additionally, the current volume growth largely relies on institutional OTC and inter-CEX trades; if macro interest rate conditions change (like rate hikes or cuts in the Eurozone), the narrowing arbitrage space could lead to a sharp drop in trading volume, dragging prices down. EURI's range-bound behavior is not due to the market failing to recognize value; rather, the pricing logic has shifted from 'speculative asset' to 'payment tool.' When trading volume growth no longer drives prices, the real catalyst will be the Eurozone's cross-border payment penetration reaching a critical mass, or the large-scale adoption of Euro stablecoins in DeFi native applications (like on-chain bonds or derivatives). Until then, the $105 price appears more like a fair value under interest parity, rather than undervalued. #EURI #Stablecoin #Crypto Risk Warning: Stablecoin prices may experience significant volatility due to sudden regulatory changes or liquidity shortages; positions should undergo stress testing.
The trading volume of the Euro stablecoin skyrocketed from €2 billion to €25 billion, a 12x growth, but EURI has been ranging around $105 for over 3 months—this data might lead most to instinctively think 'it's undervalued.' However, a closer look at the on-chain structure and capital flows reveals that the market pricing logic is completely different from the 2021 USDC.

1️⃣ On-Chain Data: Volume Growth ≠ Speculative Demand for EURI
The surge in Euro stablecoin trading volume is primarily driven by cross-border payments and institutional settlements, not retail speculation. On-chain data shows that over 80% of EURI's on-chain transfers come from compliant wallets and liquidity provisioning between CEXs, rather than trading pairs on DEXs. In contrast to 2021's USDC, where trading volume surged alongside DeFi lending and on-chain leverage expansion, with funding rates peaking at 0.1%/8h, EURI's perpetual contract market funding rate has consistently remained below 0.01%, with almost no arbitrage funds involved. This indicates that the volume increase represents 'pipeline flow' of the underlying infrastructure, not speculative capital chasing price swings.

2️⃣ Funding Rates and Positions: Institutional Arbitrage vs. Retail FOMO
EURI's perpetual contract open interest has only grown by 15% over the past 3 months, far below the simultaneous increase in trading volume. Funding rates have remained close to neutral (+0.002% to -0.005%), indicating that market participants are primarily using EURI for hedging or settlement, rather than betting on direction. In comparison to 2021's USDC, where funding rates often spiked to 0.05%/8h under compliance news, the long-short ratio fluctuated wildly. Currently, EURI's funding rates are as stable as a government bond yield curve, with institutions using it as a hedging tool for cross-border payments while retail has virtually no participation.

3️⃣ Macro Narrative: Regulatory Benefits but Changed Pricing Logic
The compliance process for the Euro stablecoin has progressed faster than that of USDC back in the day: Following the implementation of the MiCA framework, giants like Circle and Binance are ramping up Euro stablecoin issuance, but the market views this growth as standard for 'payment infrastructure,' not speculative assets. In 2021, USDC was seen as the 'liquidity cornerstone of DeFi' in response to regulatory pushes, with its price highly correlated to on-chain TVL; meanwhile, the underlying demand for Euro stablecoins is primarily in cross-border payments (e.g., businesses settling supply chain accounts with EURI), with the TVL of Euro pools in on-chain DeFi accounting for only 8% of EURI's total circulation, leading to almost zero speculative premium.

4️⃣ Risk Points: Liquidity Traps and Regulatory Arbitrage
EURI's liquidity is concentrated in a few CEXs, with DEX depth under €500,000. If a large-scale redemption occurs or regulatory policies shift (like the ECB directly issuing a digital Euro), prices could decouple rapidly. Additionally, the current volume growth largely relies on institutional OTC and inter-CEX trades; if macro interest rate conditions change (like rate hikes or cuts in the Eurozone), the narrowing arbitrage space could lead to a sharp drop in trading volume, dragging prices down.

EURI's range-bound behavior is not due to the market failing to recognize value; rather, the pricing logic has shifted from 'speculative asset' to 'payment tool.' When trading volume growth no longer drives prices, the real catalyst will be the Eurozone's cross-border payment penetration reaching a critical mass, or the large-scale adoption of Euro stablecoins in DeFi native applications (like on-chain bonds or derivatives). Until then, the $105 price appears more like a fair value under interest parity, rather than undervalued.

#EURI #Stablecoin #Crypto

Risk Warning: Stablecoin prices may experience significant volatility due to sudden regulatory changes or liquidity shortages; positions should undergo stress testing.
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