Binance, the largest cryptocurrency exchange by trading volume, announced plans to list Cow Protocol (COW) and Cetus Protocol (CETUS) tokens. Trading begins on a selected list of spot trading pairs.
Please note that accessibility to these tokens for trading on Binance may vary depending on your eligibility based on your country or region of residence.
Binance New Listings: COW and CETUS
Traders will be able to trade COW and CETUS for USDT starting Wednesday, November 6 at 12:00 UTC. But before then, COW and CETUS holders can already deposit their tokens in preparation for trading, with withdrawals available starting Thursday.
Binance’s new listings, COW and CETUS, have zero fees. This means that users can trade tokens on the platform without any trading fees. This is a promotional strategy between exchanges that is often used to attract more users.
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Nonetheless, the exchange stated that it would apply seed tags. This is a special identifier that helps distinguish COW and CETUS from other tokens. This is a precautionary measure considering that new Binance listings are relatively new in the market and therefore subject to higher risk and volatility than usual.
COW is the native token of Cow Protocol, a decentralized finance (DeFi) solution that uses batch auctions, peer-to-peer trading, and solvers to find the best possible exchange rates for users. Meanwhile, CETUS supports the Cetus Protocol, a MOVE-based liquidity protocol that enables swaps, acquisitions, and builds on Sui, a layer 1 blockchain.
GeckoTerminal shows COW and CETUS tokens already surging. In a typical “rumor buying” situation, it rises between 55% and 80%.
Binance’s listing of COW and CETUS tokens highlights the exchange’s commitment to supporting and promoting blockchain projects. Binance is driving greater adoption and growth within the cryptocurrency ecosystem by providing a platform for these tokens to reach a wider audience.
This move is part of Binance’s ongoing efforts to diversify its products. It also gradually provides users with access to new projects in the blockchain space. Token holders will benefit from increased liquidity.
Traders and investors can expect a surge in trading activity and interest following the listing of Cow Protocol and Cetus Protocol tokens on Binance. Nonetheless, it is important to pay attention as you prepare to start trading COW and CETUS. Market participants must conduct thorough research and practice appropriate risk management strategies.
Read more: How to Trade Cryptocurrencies on Binance Futures: Everything You Need to Know
The volatility of the cryptocurrency market means prices can change quickly. Traders must be prepared for rapid price fluctuations.
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