The cryptocurrency exchange Binance has suspended trading of the AEUR stablecoin, which is pegged to the Euro, due to unexpected volatility and a sharp increase in its price.

Recently, Binance introduced a new instrument - a stablecoin pegged to the Euro called AEUR, which was intended for European and other traders. The coin was available in several trading pairs, and zero fees became one of the incentives for its use. However, in the first few days after listing, there was an abnormal increase in the AEUR price, which rose from slightly over $1 to $3.25. This surge occurred on December 5, just one day after trading began. In response to this unusual spike, Binance temporarily halted trading of the AEUR stablecoin.

The reasons for this volatility have not been officially announced, but it is known that assets with low market capitalization and low liquidity are often susceptible to such fluctuations.

While AEUR caused turmoil in the market, other cryptocurrencies continue their ascent. For example, the price of Bitcoin continues to rise, from $42,000 on December 4 to $44,000 today, with a daily gain of 5%, surpassing the performance of other major coins.