Binance, one of the largest exchanges in the cryptocurrency world, left its mark on the agenda with two important announcements. On the one hand, Binance announced that it would remove the COS/BTC and FXS/BTC spot trading pairs, and on the other hand, it announced that it would list CoW Protocol and Cetus Protocol. These steps caused significant repercussions in the crypto community and caused significant increases in the prices of some crypto assets.
Binance delists BTC pairs on COS and FXS
Binance stated that it will remove COS/BTC and FXS/BTC trading pairs from its platform on November 8, 2024. This decision was made as a result of Binance’s regular market reviews and analysis of factors such as liquidity and transaction volume. The crypto exchange specifically emphasized that the removal of these pairs will not affect the ability to trade the tokens with other trading pairs on the platform. In this case, users will be able to continue trading the same assets in USDT or other parities.
This move by Binance is seen as a step in line with its goal of offering more liquid and effective trading environments to its users. At the same time, the platform informed its users to be prepared for this change. Stating that the Spot Trading Bot services used for COS/BTC and FXS/BTC trading pairs will also be removed, Binance advised its users to update or cancel these bots before the outage. Thus, it is aimed to prevent users from possible losses during the removal of trading pairs.
There is a positive atmosphere with the listing of CoW and CETUS
On the other hand, Binance’s decision to list CoW Protocol and Cetus Protocol caused sudden increases in the prices of COW and CETUS tokens in particular. With the announcement made on November 6, 2024, the stock exchange stated that these tokens would start trading with COW/USDT and CETUS/USDT parities at 15:00 on the same day. With this announcement, the prices of COW and CETUS tokens increased by 82 percent and 60 percent, respectively. COW token rose to its intraday highest value of $0.4364, while CETUS reached $0.3106. The transaction volumes of these two tokens attracted the attention of the market by increasing by 2058 percent and 812 percent, respectively.
Binance also stated that Spot Trading Bots and Spot Copy Trading services will be activated on the platform in a short time. These features aim to enable new investors to trade in these tokens safely and quickly. The performance of CoW and CETUS tokens after the Binance listing has increased the optimistic atmosphere in the market.
Some investors in the crypto community are wondering whether these tokens can maintain their uptrend. Binance’s marking of CETUS and COW tokens with a “seed tag” draws attention to the fact that these assets carry high risk. Stating that caution should be exercised when investing in such assets, Binance warns investors against potential risks. With Binance recently expanding its support for POPCAT and MEW tokens, an increase of 25% and 12% was observed in the prices of these assets. Binance’s latest listing moves supported investors’ bullish expectations in the crypto market, while also causing the trading volume in the market to increase significantly.
