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Tiny Euro-Pegged Stablecoin Surges 200% on Binance Before Exchange Halts Trading

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. 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.


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