The Sui (SUI) ecosystem altcoin is suddenly soaring with support from Binance.
In a new announcement, the world’s largest cryptocurrency exchange platform revealed that it will add trading support for Cetus (CETUS), a decentralized exchange (DEX) and centralized liquidity protocol, to the Sui blockchain.
According to Binance, CETUS will open spot trading and futures contracts for USDT trading pairs starting Wednesday, with withdrawals allowed starting Thursday.
CETUS, the project’s underlying asset, was blown away by the news of the listing. CETUS rose 109% from Monday’s low of $0.163 to Tuesday’s high of $0.341.
As of this writing, CETUS is currently trading at $0.31 with a market capitalization of $101.8 million, ranking it as the 439th largest cryptocurrency asset.
Binance is applying a seed tag to CETUS, which applies to low-liquid projects that may exhibit higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass a quiz every 90 days to ensure they are aware of the risks before trading the tokens.
According to the project’s official website, Cetus is designed to be used solely as an interoperable utility token.
“Users can obtain this through liquidity mining on Cetus. CETUS is a functional multi-utility token used as a medium of exchange between Cetus participants in a decentralized manner. The goal of introducing CETUS is to provide a convenient and secure payment and settlement method between participants interacting within the Cetus ecosystem without the need for intermediaries such as centralized third-party agencies/institutions/credits.”
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created: DALLE3