Euro-based stablecoin AEUR, which was recently listed on Binance, the world's largest cryptocurrency exchange, started to exhibit extremely strange movements on the price chart.
AEUR, which should be around $1.07 under normal conditions, rose to $3.15 on Binance and remained above this level for a long time. In its subsequent behavior, the stablecoin went up and down dozens of times between $2.10 and $1.07 for minutes.
At the time of writing this article, AEUR, which has still not reached its original value, is traded at $ 1.46.
In its announcement yesterday, Binance announced that it would list AEUR and even announced that it would charge zero transaction fees on these altcoin pairs. However, currently the volatility of this cryptocurrency appears to be quite high and could be dangerous for cryptocurrency market users.
UPDATE:
Following the development, Binance temporarily suspended trading in AEUR pairs.
*This is not investment advice.