Building the future of money with USDC/Circle | Multichain Maximalist
Orlando, FL
Joined March 2020
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Jake Eaton retweeted
USDC has the deepest euro-denominated trading liquidity
Liquidity has followed stablecoin trading toward USDC in Europe.
USDC/EUR order books are now roughly 40% deeper than USDT/EUR, with $27.3M sitting within 1% of the mid-price versus $19.3M for USDT.
USDC is now not only the more traded euro stablecoin market, but also the easier one to trade in size.
ALT USDC's Euro Order Books Are 40% Deeper Than USDTs
Jake Eaton retweeted
Will write more on this, but I suspect tokenization and RWAs will be a huge consolidating force in crypto.
Distribution is everything here. These tokens aren’t really fungible, and issuers have a lot of control over where they live.
People also underestimate the reputational side. Many tradfi asset managers will refuse to have their assets bridged to obscure, low-liquidity L1s, and they can enforce that.
You can already see it happening, and it will intensify: 3–4 chains will capture 95%+ of RWA flows. Over time, those same chains will pull in crypto-native flows too.
Jake Eaton retweeted
Circle Interop goes further: cirBTC and EURC join USDC on Circle Gateway.
Builders get one unified balance per asset with gas-free Nanopayments powered by Gateway. Use the same Gateway integration, with no changes for existing USDC users.
Explore Gateway: developers.circle.com/gatewa…
Jake Eaton retweeted
And just like that, EURC is the first euro stablecoin to cross €450M (~$500M) in circulation.
It just entered the top 20 stablecoins by market cap, the only non-USD one in the club. Onwards!
EURC is now the 3rd most spent asset on stablecoin cards. More than $70M in EURC was spent just last month. Total stablecoin card spending grew from $291M to $828.6M this year alone.
Jake Eaton retweeted
EURC & EUR are now a unified market and order book at @okx, allowing European users to trade in euros, move seamlessly between fiat and stablecoins, and tap into a single liquidity pool that reduces slippage and tightens spreads 🤝
We’re setting a new standard for euro-denominated crypto trading with EURC.
By integrating EURC by @circle into our unified EUR order book, EEA traders can access fiat and stablecoin liquidity through one market, another key step toward building Europe's leading financial app.
Read the announcement:
okx.com/en-eu/learn/okx-unif…
Jake Eaton retweeted
OKX is expanding euro-native trading with EURC.
Through @okx’s unified EUR orderbook, users can convert EUR to EURC 1:1, access EURC trading pairs, and manage activity in euro terms.
Another step toward making EURC more useful across Europe’s crypto ecosystem.
since this SOL went from $33 to $107 , BTC went from $22.4k to $83.5K
meanwhile ETH went from $1,636 to $2,462
funny enough the inflation worked out better for SOL stakers who not only outpaced ETH but got more tokens even after accounting for taxes.
crypto people obsess over metrics, i think because it feels more controllable. meanwhile it’s always been about supply/demand.
ETH supply is up about 1% since the Merge.
In the same time period:
> solana:So11111111111111111111111111111111111111112 supply grew 66%, from 354M to about 589M.
> ripple:native supply grew 27%, from 49.83B to about 63.1B.
> cardano:native supply grew about 10%, from 34.18B to about 37.5B to 38B.
> bitcoin:native supply grew 4.96%, from 19.15M to about 20.10M.
> ethereum:native supply grew 1.0%, from 120.52M to about 121.7M.
Jake Eaton retweeted
Stablecoin FX is coming on @arc
Matt Enslin (@stablenzo) of @circle sees FX trading as central to scaling non-USD stablecoins onchain. On this fireside with Theo C (@0xloth) of @morpho, he describes euro demand as venue led, citing derivatives exchanges adding euro margin collateral.
Jake Eaton retweeted
USDC and EURC dominate stablecoin card spending in dollars and euros 💵 💶
Most recently, @USDC made up at least ~60% of USD-denominated stablecoin card volume, and EURC ~92% of euro-denominated volume.
Great to see EURC's recent rise. It's now the third most spent stablecoin via card after USDC and USDT, growing from ~$1.9M to ~$70M in a year.
Thanks to @_JakeEaton for the flag! Source @Paymentscan
Euros onchain feel like they are heating up. EURC is expanding its utility to go after this market.
Jake Eaton retweeted
Absolutely massive
Every asset is going onchain
Prepare
*SEC STAFF ISSUES FAQS ON CRYPTO ASSET SECURITIES LAWS APPLICATION
*SEC STAFF: TOKEN BUYBACKS ON FUNCTIONAL PROTOCOLS DO NOT CONSTITUTE MANAGERIAL EFFORTS
*SEC STAFF: LIQUID STAKING TOKENS ARE DIGITAL COMMODITIES OR TOOLS, NOT SECURITIES
*SEC STAFF: MAINTENANCE, ENHANCEMENTS, SYSTEM GRANTS NOT CONSIDERED ESSENTIAL MANAGERIAL EFFORTS
*SEC STAFF: PROMOTING CRYPTO UTILITY WITHOUT PROFIT CLAIMS GENERALLY NOT AN INVESTMENT CONTRACT
Jake Eaton retweeted
the united states needs crypto in a way that your average person has zero understanding of
proliferation of stablecoins and tokenized stocks extends US Dollar dominance & in turn increases net buyers of US Debt at scale in a way that cannot be easily replicated
your benefit of being here & understanding this is a massive advantage that you should not take lightly
Jake Eaton retweeted
Derive's options volume is up 4.5x this year and the fees increades 70%.
Volume is compounding and fee capture is not, because Derive cut its options fees in July. Taker fees went to 0.0075% from 0.03–0.04%, and top makers now get paid rebates to quote tighter. The venue is buying order-book depth and giving up take rate to do it.
Volume
→ Options notional went from $735M in January to a $3.3B monthly run rate in September.
→ August alone did $1.92B, the best full month on record before September.
Fees
→ Protocol fees went from $324K in January to about $562K in September, up only 1.7x.
→ March is still the best fee month of 2026 at $709K, six months on.
ALT Monthly options notional volume beside monthly protocol fees, Jan.-Sep. 2026.
