“Whale Alert” Flagged for New Euro Stablecoin as 10% of EURI Supply Moves to Binance

Nearly 10% of EURI’s total supply was transferred to Binance, raising concerns of a potential sell-off. EURI is one of the first Euro stablecoins fully compliant with the EU’s MiCA regulation. MiCA enforcement is reshaping the European stablecoin landscape, with major exchanges racing for licenses. Eurite (EURI), a euro-pegged stablecoin regulated under the European Union’s pioneering Markets in Crypto-Assets (MiCA) regulation, is possibly on the verge of a potential sell-off and incoming volatility. According to on-chain analytics platform Santiment, nearly 10% of EURI’s total supply was recently transferred to Binance. As per CoinMarketCap , EURI currently trades at $1.15, marking a minor 0.10% drop in the last 24 hours. However, this price is slightly above its intended €1.00 peg, a deviation that could be attributed to liquidity dynamics or exchange premiums. Also, the large-scale transfer to Binance could signal downward pressure if the tokens are sold in bulk, as Santiment suggested. Related: Malta’s Crypto License Rush Puts EU’s MiCA Law to the Test What Is Eurite (EURI)? A Look at the MiCA-Regulated Stablecoin Eurite is a stabl… The post “Whale Alert” Flagged for New Euro Stablecoin as 10% of EURI Supply Moves to Binance appeared first on Coin Edition .

Source: Coin Edition