Anchored Coins AEUR

Spot

<p>This week, AEUR has been on a rollercoaster price ride on Binance. AEUR was involved in a market controversy a few days ago, and trading on Binance came to a halt. Binance announced today that it would begin spot trading for AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR spot trading pairs on 2023-12-08 at 14:00 (UTC).&nbsp;</p> 
<h2 class="wp-block-heading" id="binance-marketplace-dilemma-what-happened-with-aeur">Binance marketplace dilemma: What happened with AEUR?</h2> 
<p>How did all this start? On December 5, the anchored euro (AEUR) stablecoin, which is supposedly fixed to 1 euro, increased by more than 200% since its listing on the cryptocurrency exchange on December 4.</p> 
<p>According to trading data from Binance, the AEUR-USDT trading pair exhibited a significant correlation with the dominant EUR-USD exchange rate, fluctuating around $1.08 for the majority of the day. Nevertheless, at around 17:45 UTC, the token experienced a substantial surge in value and accompanied by substantial trading volumes, ultimately peaked at $3.25.</p> 
<p>In light of the unforeseen volatility, the crypto exchange suspended the trading of the token, as subsequently disclosed in an X post.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Binance</a> has suspended trading of <a href="https://twitter.com/search?q=%24AEUR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$AEUR</a> due to abnormal volatility.<br><br>Thanks for your patience and our team is working towards reopening trading soon.<a href="https://t.co/F80OVDG1qk" rel="nofollow" target="_blank">https://t.co/F80OVDG1qk</a></p>— Binance (@binance) <a href="https://twitter.com/binance/status/1732119193213075548?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 5, 2023</a>
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<p>According to a previous press release this year, AEUR is issued by Anchored Coins, a Switzerland-based subsidiary wholly owned by Singaporean investor and former parliamentarian Calvin Cheng. Additionally, the project’s website states that the token is valued at $5 million and is supported by euro fiat assets.</p> 
<p>Following the suspension, <a href="https://www.cryptopolitan.com/binance-cancels-abu-dhabi-fund-bid/">Binance</a> stated that it would refund users impacted by a recent price fluctuation in the Anchored Coins EUR stablecoin. Binance blamed AEUR’s pricing to a lack of awareness among traders regarding AEUR’s characteristics as a stablecoin in its December 6 update. According to the crypto exchange:</p> 
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 <p>As AEUR has been well received by the community, including users who might not have realized its standing as a stablecoin, there was a strong demand for AEUR, which resulted in its price deviation […] In line with its user-first mentality, Binance will facilitate and implement the AEUR project team’s compensation plan for impacted users within 72 hours of this announcement.</p> <cite>Binance</cite>
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<p>It added that traders who purchased AEUR between 17:41 UTC and 18:31 UTC on December 5 and were unable to sell them are entitled for this compensation. The company stated that qualifying consumers will receive compensation in the form of USDT token vouchers by December 9. These vouchers will expire 30 days after they are distributed. Binance later added:&nbsp;</p> 
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 <p>Eligible users’ net AEUR purchase amount during the Compensation Period will count toward the calculation of their respective compensation. The calculation will be based on the price of AEUR on Binance Spot at 2023-12-05 17:41 (UTC) (i.e., 1.07999 USDT per AEUR).</p> <cite>Binance</cite>
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<h2 class="wp-block-heading" id="aeur-spot-trading-to-resume">AEUR Spot Trading to Resume</h2> 
<p>The announcement from Binance reads, <em>“Fellow Binancians, Binance will resume spot trading for AEUR/USDT, BTC/AEUR, ETH/AEUR and EUR/AEUR spot trading pairs on 2023-12-08 at 14:00 (UTC).”</em></p> 
<p><a href="https://www.binance.com/en/support/announcement/aeur-spot-trading-to-resume-a994bc0bc05a4ef18c21c1da43d2046c" rel="nofollow noopener" target="_blank">AEUR </a>is a payment instrument and Euro-backed stablecoin issued by Anchored Coins AG that provides an alternative solution for crypto users seeking transaction and investment stability, according to comprehensive coverage provided by Binance.&nbsp;</p> 
<p>With support for an expanding number of blockchains in the works, AEUR is issued natively on the Ethereum and BNB Chains. AEUR is backed by EUR held in the designated reserve bank and vests a 1:1 redemption claim against the Issuer.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Binance</a> will resume spot trading for <a href="https://twitter.com/search?q=%24AEUR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$AEUR</a> on December 8, 14:00 UTC.<br><br>More details here ⤵️<a href="https://t.co/szgAwpwiTJ" rel="nofollow" target="_blank">https://t.co/szgAwpwiTJ</a></p>— Binance (@binance) <a href="https://twitter.com/binance/status/1733004510958616860?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 8, 2023</a>
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<p>This feature ensures a dependable method of value storage and transaction while also helping to alleviate the potential hazards linked to price fluctuations.</p> 
<p>Anchored Coins AEUR (AEUR) is currently valued at $0.934813, as reported by CoinGecko. This represents a 14.5% decrease from one hour ago and a 0.7% increase since yesterday. As of now, the value of AEUR is 0.0 percent less than it was seven days ago.</p> 
<p>The exact cause for this sudden surge in prices is still unknown. However, due to its small market capitalization and restricted liquidity, the token may be vulnerable to de-pegging and possible price manipulation.</p>

Binance to resume AEUR spot trading on December 8 – All you need to know

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