After the stablecoin AEUR was listed on Binance, it surged by 200%, and Binance suspended related trading pairs

2023-12-06 09:00:32

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ChainCatcher news, according to CoinDesk, the euro-pegged stablecoin surged nearly 200% after its launch on Binance on December 4, with the AEUR/USDT trading pair reaching a high of $3.25. Due to "abnormal fluctuations," Binance suspended trading for AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR spot trading pairs at 2:31:59 on December 6. AEUR deposits and withdrawals are unaffected, and the resumption of trading will be announced separately. The last trade recorded on the order book for the token on Binance was executed at around $2.89 at 2:31 on December 6, still 167% higher than its expected value.

AEUR is issued by Anchored Coins, a company based in Switzerland and a wholly-owned subsidiary of Singaporean investor and former Member of Parliament Calvin Cheng. The project's website indicates that the value of the token should be backed by euro-denominated assets, with a market capitalization of $5 million.

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Stablecoin AEUR Binance

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