The price of CETUS, the native token of the Cetus Protocol, skyrocketed by 70% shortly after Binance announced its listing. This announcement has sparked substantial interest and trading activity around CETUS, driving its value to $0.3037. This sharp price increase has benefited early investors significantly, with one prominent whale, known as “igris,” reaping substantial unrealized profits.
The price of $CETUS soared by 70% after #Binance announced the listing of $CETUS.Whale"igris" spent $1.1M to buy 6.19M $CETUS through two wallets between Sept 21 and Oct 14.The 6.19M $CETUS are now worth $1.9M, with an unrealized profit of $800K(+72%)!Address:… pic.twitter.com/zGkZ5BPFQU
— Lookonchain (@lookonchain) November 6, 2024
According to Lookonchain, whale investor “igris” strategically acquired 6.19 million CETUS tokens through two wallets over the past month. This accumulation occurred between September 21 and October 14, during which “igris” spent approximately $1.1 million to secure these holdings. As the price of CETUS surged following the Binance listing, the value of “igris’” CETUS holdings has now risen to an impressive $1.9 million. This translates to an unrealized profit of around $800,000, marking a 72% gain.
The whale’s CETUS holdings are split between two wallets containing significant token amounts. In one wallet, “igris” holds 3.3 million CETUS, valued at over $1 million. The second wallet holds 2.9 million CETUS, worth approximately $895,000. The timing of these acquisitions, combined with the recent Binance listing, has positioned “igris” to benefit handsomely from the token’s recent price appreciation.
CETUS Price Rally Sparks Increased Interest and Rise in Whale Activity
The recent listing of CETUS on Binance, one of the largest and most influential cryptocurrency exchanges, has brought widespread attention to the Cetus Protocol. The token’s price has climbed rapidly, peaking at $0.3037, with a 24-hour trading volume reaching $178.6 million. The total market cap of CETUS now stands at $97.2 million, while its fully diluted valuation is estimated at $152.2 million.
The substantial price rally and trading volume demonstrate a strong market response to the Binance listing, as investors view this as a validation of the Cetus Protocol’s potential. With a circulating supply of 319 million CETUS out of a total 1 billion, the current demand surge has driven a significant price increase within a short time frame.
The success of whale investors like “igris” exemplifies the lucrative opportunities presented by timely investments in newly listed tokens on major exchanges. Whale activity often influences market sentiment, as large-scale purchases signal confidence in a token’s future performance. In this case, “igris” appears to have anticipated the potential impact of a Binance listing on CETUS, positioning themselves to capitalize on the subsequent price surge.
