Binance, the largest cryptocurrency exchange by trading volume, has announced plans to list COW and CETUS tokens. Trading will open to a select list of spot trading pairs.
It is worth noting that access to these tokens for trading on Binance is subject to eligibility based on the user's country or region of residence.
New listings on Binance: COW and CETUS
Traders will be able to trade COW and CETUS for USDT starting Wednesday, November 6, at 12:00 UTC. However, before then, COW and CETUS holders can deposit the token in preparation for trading, with withdrawals possible starting Thursday.
Binance’s new listings, COW and CETUS, will be zero-fee, 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.
However, the exchange has stated that it will implement a seed tag. This is a unique identifier that helps distinguish COW and CETUS from other tokens. It is a precaution given that Binance’s new listings are relatively new to the market, making them more vulnerable to higher than usual risk and therefore volatility.
COW is the native token of the COW Protocol, a decentralized finance (DeFi) solution that uses crowd-sourced auctions, peer-to-peer trading, and analysts to find the best possible exchange rates for users. Meanwhile, CETUS powers the CETUS Protocol, a MOVE-based liquidity protocol that enables swapping, earning, and building on the layer-one blockchain, Sui.
GeckoTerminal shows that COW and CETUS tokens are already soaring. In a typical “rumor buy” 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 ongoing efforts to diversify its offerings. It is also gradually providing its users with access to new blockchain projects. Token holders will benefit from increased liquidity.
Traders and investors can expect an increase in trading activity and interest after the listing of COW and CETUS tokens on Binance. However, as they prepare to start trading COW and CETUS, it is important to exercise caution. Market participants should conduct thorough research and practice proper risk management strategies.
The volatile nature of the cryptocurrency market means that prices can change quickly. Traders should be prepared for sudden price fluctuations.