Binance, the largest crypto exchange by trading volume, announced plans to list Cow Protocol (COW) and Cetus Protocol (CETUS) tokens. It will open trading for a select list of spot trading pairs.
Of note, accessibility to these tokens for trading on Binance is subject to eligibility based on the user’s country or region of residence.
Traders will be able to trade COW and CETUS against USDT starting Wednesday, November 6, at 12:00 UTC. Before then, however, COW and CETUS holders can already deposit the token in preparation for trading, with withdrawals available starting Thursday.
Binance’s new listings, COW and CETUS, will be at zero fees, meaning users can trade the token on the platform without incurring any trading fees. This is a promotional strategy among exchanges, often used to attract more users.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
Nevertheless, the exchange articulated that it would apply a seed tag. This is a special identifier that helps distinguish COW and CETUS from other tokens. It is a precaution given the relative newness of the new Binance listings in the market, making them subject to higher-than-normal risk and, therefore, volatility.
COW is the native token for Cow Protocol, a decentralized finance (DeFi) solution using batch auctions, P2P trades, and solvers to find the best possible exchange rates for users. Meanwhile, CETUS powers the Cetus Protocol, a MOVE-based liquidity protocol enabling swap, earn, and build on Layer-1 blockchain, Sui.
GeckoTerminal shows COW and CETUS tokens are already soaring. In a typical “buy the rumor” situation, they are up between 55% and 80%.
The listing of COW and CETUS tokens on Binance highlights the exchange’s commitment to supporting and promoting blockchain projects. By providing a platform for these tokens to reach a wider audience, Binance is facilitating greater adoption and growth within the cryptocurrency ecosystem.
The move is part of Binance’s continuous efforts to diversify its offerings. It also progressively provides its users with access to novel 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. Nevertheless, as they gear up to start trading COW and CETUS, it is important to exercise caution. Market participants must conduct thorough research and practice proper risk management strategies.
Read more: How To Trade Crypto on Binance Futures: Everything You Need To Know
The volatile nature of the cryptocurrency market means that prices can fluctuate rapidly. Traders should brace for sudden price swings.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
DeFi Wallets Unmasked: Your Key to Financial Sovereignty in the Crypto Wild West DeFi wallets…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The Head…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Australia’s financial…
Chris Toomey, a managing director at Morgan Stanley, thinks the market hasn’t priced in the…
Curious about stablecoins and how they fit into the crypto world? This guide breaks down…
Last week, Donald Trump’s delay on European tariffs marked the return of the bullish rally…