Key Points
- Today, Binance listed COW and CETUS with Seed Tags applied.
- The coins’ prices spiked between 60% and 70% following the exchange’s announcement.
Binance listed Cow Protocol (COW) and Cetus Protocol (CETUS) today.
The new spot trading pairs include the following, according to the exchange’s official announcement:
Trading opened for spot trading pairs at 12:00 (UTC).
Binance applied the Seed Tag to the two tokens. Seed Tags are applied to innovative projects that could exhibit higher volatility and risks compared to other listed tokens.
Following the exchange’s announcement, the coins’ prices recorded significant surges.
COW and CETUS Prices Surged Following Binance’s Listing Announcement
At the moment of writing this article, COW is trading above $0.41, up by over 62% in the past 24 hours.
Ahead of Binance’s announcement, the token was trading at levels of $0.26, ahead of a price spike to $0.46 levels. The token has a market cap of almost $108 million.
CoW Protocol is a DEX aggregator that allows users to sign their swap intention and delegate the execution to solvers aka relayers in other protocols. Solvers bid on the best possible exchange rate in order to win the right to settle trades.
By batching multiple trades together in order to create CoWs (Coincidence of Wants), solvers can save on gas costs, AMM fees, and execution risks.
The COW token allows holders the right to govern and curate the infrastructure of the CoW Protocol.
The price of CETUS also recorded a significant surge, following Binance’s announcement of around 70%. The token reached a new ATH at $0.32.
At the moment of writing this article, CETUS is trading above $0.29, up by around 63% in the past 24 hours.
Before the announcement of the exchange, CETUS was trading at $0.21 levels. The token’s market cap is above $175 million.
Cetus is an important DEX and concentrated liquidity protocol that’s built on Sui and Aptos blockchains. Its mission is to build a powerful and flexible underlying liquidity network to make trading easier for users and assets.
