Key Takeaways:
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that it will list the Cow Protocol (COW) and Cetus Protocol (CETUS) tokens for spot trading on its platform.
The COW/USDT and CETUS/USDT trading pairs went live at noon UTC on November 6, resulting in impressive surges for both cryptocurrencies. The prices of COW and CETUS soared by 82% and 60%, respectively.
Binance Lists DeFi Tokens COW and CETUS for Spot Trading, Resulting Massive Surge
As per the announcement, withdrawals for the newly listed tokens will be available starting November 7. Binance clarified that there will be no listing fees applied for these cryptocurrencies.
The exchange also stated that a seed tag will be applied to COW and CETUS tokens as they may exhibit higher volatility and risks compared to other tokens listed on the platform. Binance will subsequently roll out spot copy trading and bot support for both tokens and will be available 24 hours after the pairs hit the live market.
Following the Binance announcement, COW saw its price surge by more than 79% during early trading hours on November 6 to breach its $0.45 psychological resistance level for the first time in over six months. The native cryptocurrency of the CoW Protocol decentralized exchange has grown 100% since the beginning of the year.
COW started drawing investor interest following its listing on the Coinbase exchange in late September. On November 5, the decentralized exchange secured funding from European venture capital firm Greenfield Capital, adding momentum to the bullish narrative around the token.
COW Becomes Second-Most Accumulated Crypto Among High Net Worth Investors
The recent rally, combined with the bullish market-wide sentiment over Donald Trump winning the US Presidential election, has attracted a wave of smart money into COW. Over the past 24 hours, CoW Protocol has become the second-most accumulated token among high-net-worth investors, signaling strong confidence in its upward potential.
CETUS powers the Cetus Protocol, which is a liquidity protocol that allows users to swap, earn, and build on the Layer-1 blockchain Sui (SUI). GeckoTerminal data shows that COW and CETUS tokens are soaring in a “buy the rumor” situation, with prices up between 55% and 80%.
At the time of writing, CoW Protocol (COW) is trading at $0.5682 – up 27.36% in the last 24 hours. Meanwhile, the Cetus Protocol (CETUS) coin is changing hands at $0.3089 – down 0.72% from its price from the previous day.
Read More: MAGA ($TRUMP) Coin Bullish As Trump Reclaims White House
