Hello, I'm Rob

Euro stablecoins: payments or trading?

Every report on euro stablecoins measures how much exists. I measured how much moves, and when. Payments follow the working week because banks close at weekends. Trading runs all seven days because digital assets never sleep. I chose the tokens, verified them and wrote the queries. Step through it:

API_URL = "https://stablecoins.llama.fi/stablecoins?includePrices=true"

def summarise(assets, peg_type):
    rows = []
    for asset in assets:
        if asset.get("pegType") != peg_type:
            continue
        supply = circulating(asset, "circulating", peg_type)
        usd_value = supply * (asset.get("price") or 1.0)
        if usd_value < MIN_CIRCULATING_USD:
            continue
        rows.append({...})
    return sorted(rows, key=lambda r: r["circulating_usd"], reverse=True)

Public data only, pulled 6 August 2026, the transfers all on Ethereum: the one network these three tokens share. Transfer counts are not payment counts, because they include trading this data cannot separate out. Checking each token's contract against its issuer's own documentation caught a widely used data source serving an old version of one token, which would have made a healthy token look like a dying one.