According to Paolo Ardoino, the CEO of Tether, the Euro-pegged stablecoin EURO Tether (EURT) has experienced a significant price surge. Ardoino shared data showing EURT trading at $1.077, marking a 7.6% increase over 24 hours. The source data indicated a market capitalization of approximately $53.8 million and a 24-hour trading volume of $5.2 million. This unusual price movement for a stablecoin represents a de-pegging event to the upside, which could signal strong demand or supply constraints for EURT and potentially create arbitrage opportunities for traders.

According to CCData, Tether has announced that it will cease support for its Euro Tether (EURT) stablecoin. The decision is attributed to the stringent compliance requirements under the Markets in Crypto-Assets (MiCA) regulation and a decrease in market demand. As a result, the market capitalization of EURT fell by 0.47% to $26.9 million in December, marking the 13th consecutive month of decline.