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

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 stablecoin issued by Banking Circle S.A., a licensed electronic money institution based in Luxembourg. It is one of the first stablecoins fully aligned with the MiCA regulation, making it a regulatory pioneer in the euro stablecoin space.

Under MiCA, stablecoin issuers are required to hold 1:1 reserves in safe, liquid assets, undergo regular audits, and provide consumers with clear redemption rights. EURI is currently available on both the Ethereum and BNB Smart Chain networks.

Why the Whale Transfer Is a Key Market Signal

Santiment’s alert on the EURI-to-Binance transaction has introduced an element of caution. Whale movements to centralized exchanges often precede large sell-offs, especially when the market cap is relatively small.

With EURI holding a $50.9 million valuation and ranking 521st by market cap, even modest liquidation activity could create significant short-term volatility. However, given that EURI is a regulated stablecoin, its utility lies more in cross-border payments, DeFi integrations, and fiat-crypto bridges than speculative trading.

The Bigger Picture: MiCA Ushers in a New Stablecoin Era

Eurite’s recent developments come amid broader changes in the European crypto regulatory landscape. Exchanges like Gemini and Coinbase are reportedly securing MiCA licenses, following similar moves by Bybit and Binance, signaling that the industry is adapting to the new regulatory environment.

Related: 400,000 BTC Exit Exchanges Amid Falling Supply and Rising Price

Firms including Circle, Crypto.com, Fiat Republic, and Société Générale have successfully obtained MiCA approval, showcasing a divide in how stablecoin issuers view regulatory engagement.