Binance, a leading cryptocurrency exchange, recently launched
Anchored Coins EUR (AEUR), a new stablecoin pegged to the euro. But shortly after the launch, Binance had to suspend trading of AEUR due to its unexpected 200% price surge. Binance labelled this as 'abnormal volatility'. In an effort to appease unhappy traders, Binance announced it will be compensating users who bought AEUR at the inflated prices during this surge. Binance also plans to further enhance their listing process.
Before the halt, AEUR had gotten off to a flying start, followed by substantial interest from the crypto community. Anchored Coins is backed by Singaporean stakeholders and their objective is to launch several stablecoins pegged to different currencies. The AEUR, pegged to the euro, and its sister stablecoin pegged to the Swiss franc were initially launched in Switzerland. These stablecoins indicate Singapore's increasing influence in the crypto market and a commitment to innovation.
On the other hand, this incident also throws light on the volatility and unpredictability of the crypto market. With renowned coins like SOL, PLX and BTC leading the crypto bull run, the AEUR incident also revealed amateurish tendencies within crypto trading. Furthermore, it urges for adequate regulatory measures and transparency.
Anchored Coins AEUR News Analytics from Mon, 05 Sep 2016 07:00:00 GMT to Mon, 10 Jun 2024 07:00:00 GMT -
Rating 2
- Innovation 7
- Information 7
- Rumor -5
