The leading cryptocurrency exchange Binance has taken action for the Euro-based stablecoin Anchored Coins EUR (AEUR), which it listed a short time ago and had to suspend trading shortly after listing. The cryptocurrency exchange announced today that AEUR transactions, which were suspended due to strange movements in the price, will resume.
Anchored Coins EUR Transactions Are Resuming
Binance, the largest cryptocurrency exchange in the world by volume, has finally taken the expected step for AEUR, which it listed on November 4. The cryptocurrency exchange announced that transactions in the AEUR/ USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR pairs, which it suspended after strange movements in the price were seen shortly after listing, will resume today.
The announcement from Binance stated that trading transactions in the AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR spot trading pairs will resume at 5:00 PM GMT today.
Compensation Promised to Users
Before resuming the suspended AEUR transactions, Binance announced that compensation would be paid to users who mistakenly purchased the stablecoin due to the unusual increase in its price.
The cryptocurrency exchange had announced that users who bought AUER within a certain time interval and could not sell their AUER before the transactions were suspended would be eligible for compensation with the following statement:
A strong demand has emerged for AEUR, a stablecoin, causing a deviation in the price. Binance monitors the market 24/7. When a price deviation occurred in AUER, trading transactions for the AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR spot trading pairs were immediately suspended as of 21.31 GMT on December 5. A separate announcement will be made when trading resumes for the suspended AEUR spot transaction pairs.
Users who bought AEUR through AEUR/USDT, BTC/AEUR, ETH/AEUR, and EUR/AEUR spot transaction pairs between 18.41 and 21.31 GMT on December 5 and could not sell the AEUR they bought at Binance Spot before 21.31 on that day will be eligible for compensation.
The net AEUR purchase amount of eligible users will be taken into account for the compensation calculation. The calculation will be based on the AEUR price at Binance Spot on December 5 at 20.41 GMT.
As it is known, after the listing by Binance, the price of AEUR, a stablecoin that was expected to remain stable at 1 Euro, increased and rose by 200% in a short time. The price in the AEUR/USDT trading pair reached up to $3.25.
