Euro Crypto Trading Hits Record Highs as Stablecoin Activity Surges

Crypto trading in euros surged in 2025, with spot trades denominated in the currency totaling €362 billion, a 31% annual increase. This growth underscores the rising prominence of euro-backed stablecoins and direct euro pairs in the market. During the first quarter of 2026, monthly euro trading averaged €28.5 billion, marking a significant milestone as euro market depth surpassed dollar equivalents for the first time.

Bitvavo emerged as the dominant platform for euro spot trading, handling 44% of the global volume across 2025 and 2026. Other major players included Kraken (20%), Coinbase (13%), and Binance (8%). Bitvavo also recorded the lowest average spread at 0.981 basis points for key cryptocurrencies like Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP, and Cardano (ADA).

Trading in euro-backed stablecoins saw a remarkable increase, reaching seven to eight times its 2024 average, with peak weekly volumes exceeding $1.5 billion. While this surge indicates growing stablecoin activity, it does not signal a shift away from fiat pairs, according to the data. The figures highlight the parallel expansion of both euro-backed stablecoins and direct euro trading in the crypto market.