The prices of CoW Protocol (COW) and Cetus Protocol (CETUS) have seen significant gains following their listings on Binance, igniting widespread optimism in the crypto market. On November 6, the exchange giant revealed the inclusion of these tokens, and the market responded with impressive price movements—COW surged by 82.5%, while CETUS climbed 60%, marking substantial trading volume increases of 2058% and 812%, respectively.
Binance’s announcement came at 12:00 UTC on Tuesday, with the exchange enabling trading pairs COW/USDT and CETUS/USDT. The listing further fueled the enthusiasm surrounding these assets, underscored by Binance’s decision to waive the listing fee, set at 0 BNB, to bolster support for both tokens. Withdrawals for the listed tokens are set to begin on November 7 at 12:00 UTC.
In a move to highlight the inherent risks, Binance also applied the “seed” tag to both COW and CETUS, categorizing them as high-risk assets. The exchange also introduced new features, such as Trading Bots and Spot Copy trading services, for both tokens, available within 24 hours of the listing.
Price Surge and Market Reactions
At press time, COW’s price surged by 82.5%, reaching $0.4364, with its 24-hour trading volume skyrocketing to $8.62 million. The coin fluctuated between an intraday low of $0.2489 and a high of $0.2893. Meanwhile, CETUS saw a 60% increase, pushing its price to $0.3106, with a 24-hour volume surge to $116.53 million. The price movement for CETUS ranged from an intraday low of $0.174 to a high of $0.241.
These significant gains have sparked debates on whether the tokens will maintain their bullish momentum. Observers are comparing this rally to similar past instances, such as POPCAT’s 25% surge on November 6 following a Binance listing expansion, and MEW’s nearly 12% increase after expanded trading options were offered on the exchange.
While investor optimism remains high, the question on everyone’s mind is whether the momentum will be sustained in the long term, as many eagerly await further market developments.
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