Binance Resumes Trading with Controversial AEUR Stablecoin
Date: 2023-12-08 Author: Dima Zakharov Categories: BLOCKCHAIN, CRYPTO PAYMENTS
Binance Lifts AEUR Trading Suspension
In a surprising turn of events, Binance has decided to resume trading with the AEUR stablecoin. The decision came after a sudden suspension of AEUR trading due to the coin's erratic behavior and its detachment from the euro's value.
AEUR's Rollercoaster Ride
Anchored Coins EUR (AEUR) was listed on the cryptocurrency exchange on December 4, 2023, and initially created quite a buzz as a stablecoin tied to the euro's exchange rate. However, the very next day, AEUR experienced a loss of its peg and saw a nearly 200% price increase, reaching $3.25 on December 5th. In response, Binance temporarily delisted the coin, promising compensation for affected users. Now, on Friday, December 8th, the exchange has decided to reopen trading.
Trading Pairs and Schedule
Binance will resume spot trading for AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR pairs on December 8th at 14:00 (UTC), according to the official announcement.
AEUR's Current Price
Before the reopening of trading on Binance, AEUR was priced at $1.09 on Coingecko, experiencing a 17% increase within 24 hours. On Bitget, the asset is trading at $2.5.
About AEUR Stablecoin
AEUR is a stablecoin issued by Anchored Coins. The company claims to provide an "alternative solution for cryptocurrency users seeking stability in their investments and transactions." It was intended to be backed by paper assets in euros stored in Swiss banks and is built on the Ethereum and BNB Chain blockchains.
In recent news, Binance also announced the indefinite suspension of fees for ETH, XRP, DOGE, and some other popular coins when traded in pairs with the stablecoin First Digital USD (FDUSD).
