Binance, one of the largest exchanges in the cryptocurrency world, made headlines with two important announcements. On the one hand, Binance announced that it would remove 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 had a significant impact in the crypto community and caused serious increases in the prices of some crypto assets.
Binance is delisting BTC pairs on COS and FXS
Binance announced 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 trading volume. The crypto exchange particularly emphasized that the removal of these pairs will not affect the status of tokens being traded with other trading pairs on the platform. In this case, users will be able to continue to trade the same assets in USDT or other pairs.
This move by Binance is seen as a step in line with its goal of providing its users with more liquid and efficient trading environments. 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. This aims 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. The exchange announced on November 6, 2024 that these tokens will start trading with COW/USDT and CETUS/USDT pairs at 15:00 CET on the same day. With this announcement, the prices of COW and CETUS tokens increased by 82 percent and 60 percent, respectively. The COW token reached its highest value of $ 0.4364 during the day, while CETUS reached $ 0.3106. The trading volumes of these two tokens increased by 2058 percent and 812 percent, respectively, attracting the attention of the market.
Binance also stated that Spot Trading Bots and Spot Copy Trading services will be activated on the platform soon. These features aim to enable new investors to trade these tokens safely and quickly. The performance of CoW and CETUS tokens after their Binance listing has increased the optimistic atmosphere in the market
Some investors in the crypto community are wondering whether these tokens will be able to maintain their upward trend. Binance’s marking of CETUS and COW tokens with a “seed tag” draws attention to the high risk of these assets. Stating that caution should be exercised when investing in such assets, Binance warns investors against potential risks. Binance recently expanded support for POPCAT and MEW tokens, which saw their prices increase by 25% and 12%. Binance’s recent listing moves have supported investors’ bullish expectations in the crypto market, while also significantly increasing trading volume in the market.
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