Share this article
Tiny Euro-Pegged Stablecoin Surges 200% on Binance Before Exchange Halts Trading Due to 'Abnormal Volatility'
The AEUR-USDT trading pair hit a $3.25 high Tuesday afternoon before Binance suspended trading with the token.
Updated Mar 8, 2024, 6:17 p.m. Published Dec 5, 2023, 10:39 p.m.
The anchored euro (AEUR) stablecoin, which is supposedly pegged to 1 euro, surged nearly 200% Tuesday on Binance after being listed on the crypto exchange yesterday.
The AEUR-USDT pair was trading at around $1.08 for the most part of the day, roughly in line with the EUR-USD exchange rate at the time, Binance trading data shows. The token started to rise sharply at around 17:45 UTC with high volumes, hitting a high of $3.25.
STORY CONTINUES BELOW
Verpassen Sie keine weitere Geschichte.Abonnieren Sie noch heute den Crypto Daybook Americas Newsletter. Alle Newsletter ansehen
The platform suspended trading with the token due to "abnormal volatility," Binance later said in an X (formerly Twitter) post.
The token's order book – aggregating traders' buy and sell orders – on Binance shows that the last trade was executed at 18:31 UTC at around $2.89, still 167% higher than its intended value.
AEUR is issued by Switzerland-based Anchored Coins, a wholly-owned subsidiary of Singapore investor and former parliament member Calvin Cheng, according to a press release from earlier this year. The token's value is supposed to be backed by euro fiat assets and has a market capitalization of $5 million, the project's website shows.
There was no apparent reason for the unusual price surge. However, the token's low market cap and limited liquidity in theory could make it more vulnerable to de-pegging by potential price manipulation.
The event underscores that stablecoins are prone to periods of price instability on exchanges. Large-cap fiat-backed stablecoins de-pegged in more than 600 instances this year, Moody's Analytics reported last month.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Federal Reserve Cuts Rates 25 Basis Points, With Two Voting for Steady Policy
The anticipated move comes as policymakers are still operating without several key economic data releases that remain delayed or suspended due to the U.S. government shutdown.
What to know:
- As expected, the Federal Reserve trimmed its benchmark fed funds rate range by 25 basis points on Wednesday afternoon.
- Today's cut is notable given the unusually large amount of public dissension among Fed members for further monetary ease.
- Two Fed members dissented from the rate cut, preferring instead to hold rates steady, while one member voted for a 50 basis point rate cut.
Top Stories
