EURC/USD price feed

Most of this catalog prices crypto assets whose dollar value is their own story. EURC is different: the token exists to track the euro, so its dollar price naturally follows the euro-dollar cross. What this page provides is the market price of the token, computed from its pools; the resemblance to EUR/USD is the token doing its job.

That distinction is worth keeping sharp. The interbank market prices the euro itself; this feed prices EURC, the on-chain token that carries it. When the token trades tight to the currency, the two move together. If the token ever traded away from the currency, this page is where that would show. A token feed, deliberately, rather than a currency benchmark.

Its usefulness is still denominated in euros. Anything settled on-chain in EURC, from payments to collateral, needs the token's own market price rather than a proxy for the currency, which is exactly what this page is.

The drivers are macro, not crypto. Because the token tracks the euro, this number moves on central-bank decisions, rate differentials plus the same headlines that move the interbank cross; a quiet day in crypto can still be a loud day on this page. Readers used to the rest of the catalog should recalibrate: here, volatility is imported from the currency world.

Where EURC trades directly against USDC, the pool is crypto's euro against crypto's dollar, an on-chain echo of the world's most traded currency pair. That cross is this market's natural center of gravity; how the weight actually spreads across chains and venue types in a given week is the composition's report rather than this paragraph's.

Coin-quoted legs resolve through their own markets before dollars appear. One structural note travels with euro tokens: they sometimes price each other directly, the euro-zone counterpart of the dollar crosses elsewhere in this catalog.

Regulation gives the pair its tailwind. EURC operates under Europe's MiCA regime, which has been consolidating euro-stablecoin activity around compliant issuers; the broader euro-stablecoin picture lives on this catalog's euro hub.

The demand side is young but visible. Euro pairs are appearing on the larger DEX venues, euro collateral is being listed in lending markets, plus euro-denominated flows keep growing as MiCA-regulated issuance expands. Each of those consumers needs the same primitive underneath: a live euro-dollar rate born on-chain.

The book's shape is its own story. Weekly volume runs to nine figures while resting depth stays modest: money moves through these pools rather than sitting in them. That is a payments profile, a corridor where euros enter, convert plus leave.

A corridor needs a rate more than a warehouse does. Every conversion that crosses it settles at the market's number of that moment, so the quality of the number is the quality of the corridor. This feed computes it from the pools doing the converting, at the weights the market sets, pinned to a block.

As euro settlement on-chain grows, this composition will deepen with it; the page reads the same either way. That is the advantage of pricing a currency where it settles: the meter is already standing wherever the corridor grows next.