On November 6, 2024, Binance, one of the leading cryptocurrency exchanges globally, announced the listing of two new altcoins: Cow Protocol (COW) and Cetus Protocol (CETUS). Trading for these newly listed tokens will commence today at 15:00 Turkish time, with trading pairs available as COW/USDT and CETUS/USDT. Users can deposit these altcoins into their accounts now, while withdrawals will open on November 7, 2024.
What Does the Seed Label Indicate?
The newly introduced altcoins will carry a “Seed” label on Binance. This label is assigned to projects deemed innovative but also associated with higher volatility and risk levels compared to standard altcoins.
What Are Cow Protocol and Cetus Protocol?
Cow Protocol (COW) is a decentralized trading protocol that operates without permissions, allowing users to trade securely on the Ethereum network. In contrast, Cetus Protocol (CETUS) is focused on liquidity provision on the Sui Blockchain, specifically designed to facilitate swap transactions.
Key points to note include:
– Both COW and CETUS are marked for high volatility.
– Users are encouraged to undertake thorough research before trading.
– Binance requires users to complete tests every 90 days to trade these altcoins, enhancing awareness of investment risks.
– Warning banners will be displayed on trading pages, and trading bots will be supported shortly.
With these new listings, Binance continues to broaden its offerings while emphasizing the importance of informed trading. Users are urged to remain vigilant and manage their risks effectively as they explore these new options.