Important Announcements from Binance: COS and FXS Trading Pairs Removal, CoW and Cetus Listing Success
The cryptocurrency market continues to witness new developments every day. In this context, Binance, one of the world’s largest cryptocurrency exchanges, attracted attention with two important statements it made recently. While the exchange announced that it would remove the COS/BTC and FXS/BTC trading pairs, it also announced that it would list CoW Protocol and Cetus Protocol. These two steps caused serious repercussions in the crypto community and caused significant increases in the prices of some crypto assets.
Binance Removes COS and FXS Trading Pairs
Binance announced that it decided to remove COS/BTC and FXS/BTC trading pairs from its platform on November 8, 2024. This decision was taken as a result of the exchange regularly reviewing market conditions and analyzing factors such as liquidity and trading volume. The exchange specifically emphasized that the removal of these trading pairs will not affect the trading status of the relevant tokens with other trading pairs on the platform. Users will be able to continue trading the same assets in alternative currencies such as USDT.
This is considered an important development for users. Binance stated that it took this step to enable users to operate in more liquid and effective trading environments. Additionally, the platform informed its users to be prepared for this change. Announcing that the Spot Trading Bot services used for COS/BTC and FXS/BTC trading pairs will be removed, Binance advised its users to update or cancel these bots. This stands out as an important precaution to prevent users from possible losses during the removal of trading pairs.
CoW and Cetus Listing: A Positive Tone in the Markets
Binance’s decision to list CoW Protocol and Cetus Protocol led to sudden increases in the prices of COW and CETUS tokens in particular. In the announcement made on November 6, 2024, the stock exchange stated that these tokens will start trading with COW/USDT and CETUS/USDT parities at 15:00 on the same day. Following this announcement, the COW token reached its highest value during the day up to $0.4364, while the CETUS token reached $0.3106. The transaction volumes of COW and CETUS tokens also attracted the attention of the market, increasing by 2058% and 812% respectively.
- COW Token: Price increase 82%, intraday high $0.4364.
- CETUS Token: Price increase 60%, intraday high $0.3106.
Binance also announced that Spot Trading Bots and Spot Copy Trading services will be enabled on the platform shortly. These new features are especially aimed at enabling new investors to trade in these tokens safely and quickly. The performance of CoW and CETUS tokens on Binance has increased the optimistic atmosphere in the markets in general.
Things Investors Should Pay Attention to
Some investors in the crypto community are wondering whether COW and CETUS tokens can maintain their uptrend. Binance marks these tokens with a “seed tag”, drawing attention to the fact that these assets carry high risk. Therefore, warnings are being made that investors should be careful. Binance informed investors about potential risks and emphasized that caution should be exercised when investing in such assets.
Especially after Binance recently expanded its support for POPCAT and MEW tokens, an increase of 25% and 12% was observed in the prices of these assets. This shows that Binance’s listing moves support bullish expectations in the market and cause trading volume to increase significantly.
As a result, Binance’s removal of COS and FXS trading pairs has the potential to impact the dynamics in the markets, while the listing of CoW and CETUS tokens has created great excitement among investors. These developments will continue to remain on the agenda as important events that need to be watched carefully in the cryptocurrency world.
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