“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…

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