Major crypto exchange Binance has stirred the crypto community with two significant announcements. While the exchange revealed it would delist the COS/BTC and FXS/BTC trading pairs, it also announced the listing of CoW Protocol and Cetus Protocol. These moves have drawn substantial attention, as such announcements can lead to significant price shifts in affected crypto assets.
Binance to Delist COS/BTC and FXS/BTC Trading Pairs
On November 8, 2024, Binance will remove the COS/BTC and FXS/BTC trading pairs from its platform. This decision aligns with Binance’s ongoing commitment to review and optimize its offerings, assessing factors like liquidity and trading volume. Importantly, the exchange emphasized that users can continue trading these tokens in other available pairs, such as USDT.
To assist users with the transition, Binance also announced it would disable Spot Trading Bots for the affected pairs on the same date, advising users to update or cancel their bots in advance to avoid potential losses.
Positive Momentum with CoW and CETUS Listings
Alongside these changes, Binance announced it would list CoW Protocol and Cetus Protocol tokens. The COW/USDT and CETUS/USDT trading pairs went live on November 6, 2024. This announcement resulted in an impressive price surge for both tokens, with COW and CETUS prices soaring by 82% and 60%, respectively. The daily highs for COW and CETUS reached $0.4364 and $0.3106, while trading volumes surged by 2058% and 812%, respectively.
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Binance noted that Spot Trading Bots and Copy Trading features for these newly listed tokens will be available soon, aiming to provide a secure and efficient trading experience for new investors. This positive performance following the listings has injected an optimistic tone into the market.
Investors Cautioned About Potential Risks
Some in the crypto community are speculating whether these tokens can maintain their upward momentum. Binance has tagged CETUS and COW tokens with a “seed tag,” indicating their high-risk nature and advising investors to proceed with caution. Binance has recently expanded support for POPCAT and MEW tokens, which also saw price increases of 25% and 12%, respectively.
Binance’s latest listings and delistings have bolstered investor confidence, driving a significant increase in trading volume across the crypto market. The Bit Journal will continue to monitor how these listings impact the broader market landscape.
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