Key Takeaways:
The largest crypto exchange Binance announced the plan to list the CoW protocol token. It will be available for trading for a selected set of trading pairs. The listing plans of Binance caused a significant rise in the price of tokens in
recent times. This has created value for the token within a short period. The trading will be open by 12:00 (UTC). The price of the Cow token has increased by 60 % after the announcement of the Binance listing was made public.
At the time of writing the price of the COW protocol is $0.525774. The 24-hour trading volume is $366,092,391. The cow protocol increased by 17.03% in the last 24 hours. Before its announcement to be listed on Binance, the token was trading at $0.26. The current market capitalization of CoW is $143,161,775.The total supply of the coin is 1,000,000,000, and the maximum supply amounts to 1,000,000,000.
CoW is a decentralized exchange aggregator that provides the option to accept the swap intention and delegate the operation of execution to solvers in other protocols. The trade is settled by bidding among the solvers at the best possible exchange rate.
Coincidence of Wants (COWS) can be ordered economically by reducing the gas cost, AMM fees, and execution risk by creating batches of multiple trades.
The token holder has the right to govern and suggest alterations to the infrastructure of the protocol.
The COW token will be provided with the seed tag on Binance. The seed token represents that it is an innovative project that may represent a higher risk and volatility in comparison with other established tokens. There are eligibility criteria like tasks to get trading access to those tokens. These criteria include participating in quiz competitions every 90 days on the Binancde spot or other Margin platforms. The terms of use of Binance should be accepted by the participants. These quizzes consist of the potential risks associated with investments in these new tokens.
As per the statement released by Binance on the launch of COW in its platforms, the volatility and risk are addressed. This has reduced the investment stress among traders. COW is a fully permissionless trading protocol and is a relatively new token with a higher risk profile and potential for significant price volatility.
Trading Bots and Spot Copy Trading options for the trading pair COW/USDT will be available on the Binance platform within 24 hours after listing. This option will be unavailable for the users of Canada, Cuba, Iran, Netherlands, North Korea, Syria, The United States, and certain regions of Ukraine.
CoW Protocol versus Binance Exchange
Binance is a leading crypto exchange that has accumulated a reputation for its services and approach. As the trading began on November 6th, Binance is a platform that handles most trading volume for tokens after the listings. More than 70% of CoW’s trading volume is available on the platform. This is a remarkable step in the journey of the token in making decentralized finance safe and accessible for all its users. The increase in access causes an increase in liquidity. This increased liquidity will translate into more awareness about the token which in turn results in an increased userbase.
CoW Token: Holding on to Power
The CoW token holders can make decisions on the platform for the development of its infrastructure. Multiple key events contribute to the development of the token. CoW protocol is known for its innovative approach. The token is a currency experiencing demand within the crypto community. Binance being a reputed exchange of the crypto community has contributed to the wide acceptance of CoW. As per the analysis, the token seems to be on the positive side of the crypto landscape. However, crypto investments are subjected to the volatility of the market, hence investments should be taken after careful consideration.
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