<div class="coinjournal"> 
 <ul> 
  <li>Binance abruptly halts AEUR trading.</li> 
  <li>The euro-pegged stablecoin experienced an extraordinary 200% surge just one day after its listing.</li> 
  <li>AEUR is supposedly backed by euro fiat assets.</li> 
 </ul> 
 <p><a rel="dofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> has abruptly halted <a rel="dofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> on the AEUR <a rel="dofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>, pegged to the euro, as its value soared over 200%.</p> 
 <p>The unexpected <a rel="dofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> on December 5 raised concerns, leading to a swift response from the exchange. This incident sheds light on the risks associated with <a rel="dofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s, particularly those with lower market caps and liquidity.</p> 
 <h2 id="aeur-s-rollercoaster-ride">AEUR’s rollercoaster ride&nbsp;</h2> 
 <p>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.</p> 
 <p>Binance promptly suspended trading due to “abnormal volatility,” indicating concerns about the stability of the coin.</p> 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
  <p lang="en" dir="ltr">#Binance has suspended trading of $AEUR due to abnormal volatility.</p> 
  <p>Thanks for your patience and our team is working towards reopening trading soon.https://t.co/F80OVDG1qk</p> 
  <p>— Binance (@binance) December 5, 2023</p>
 </blockquote> 
 <p></p> 
 <h2 id="what-is-aeur-stablecoin">What is AEUR stablecoin?</h2> 
 <p>AEUR is issued by Anchored Coins, a Switzerland-based subsidiary owned by Singaporean investor Calvin Cheng. Touted to be backed by euro fiat assets, the stablecoin boasts a $5 million market capitalization.</p> 
 <p>However, its sudden surge and subsequent trading halt underscore potential vulnerabilities. The coin’s lower market cap and limited liquidity create an environment where de-pegging and manipulation risks are heightened.</p> 
 <p>This unexpected incident on Binance serves as a stark reminder that stability challenges can afflict even seemingly secure stablecoins.</p> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/binance-halts-aeur-stablecoin-trading-after-a-200-surge-days-after-listing-tbt72761.html">https://thebittimes.com/binance-halts-aeur-stablecoin-trading-after-a-200-surge-days-after-listing-tbt72761.html</a></p>

Binance halts AEUR stablecoin trading after a 200% surge days after listing

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