Binance halts AEUR stablecoin trading after a 200% surge days after listing
Binance abruptly halts AEUR trading. The euro-pegged stablecoin experienced an extraordinary 200% surge just one day after its listing. AEUR is supposedly backed by euro fiat assets. Binance has abruptly halted trading on the AEUR stablecoin , pegged to the euro, as its value soared over 200%. The unexpected surge on December 5 raised concerns, leading to a swift response from the exchange. This incident sheds light on the risks associated with stablecoin s, particularly those with lower market caps and liquidity. AEUR’s rollercoaster ride The AEUR stablecoin, pegged to the euro at 1:1, witnessed an unprecedented surge of over 200% on Binance, just a day after its listing. Initially trading around $1.08, mirroring the prevailing EUR-USD rate, the token’s value skyrocketed to $3.25 at 17:45 UTC. Binance promptly suspended trading due to “abnormal volatility,” indicating concerns about the stability of the coin. #Binance ha...