Altcoins Surge Over 70% Following Binance Listings

TL;DR

• Two altcoins, Cow Protocol (COW) and Cetus Protocol (CETUS), have seen significant price increases after being listed on Binance.
• Both tokens carry seed tags, indicating higher volatility and risk.

Price Surge on Binance Listings

Binance recently announced the listing of Cow Protocol (COW) and Cetus Protocol (CETUS), leading to a substantial rally in their prices. The new trading pairs COW/USDT and CETUS/USDT are now available, with deposits open and withdrawals starting on November 7. The trading platform also enabled Trading Bots and Spot Copy Trading services on the same day.

However, it's important to note that COW and CETUS were added with seed tags. Tokens in this category are considered to have higher volatility and risks compared to other listed assets, prompting users to exercise caution and conduct thorough research before trading.

“COW and CETUS are relatively new tokens that pose a higher than normal risk and will likely be subject to high price volatility. Users must exercise sufficient risk management and DYOR (do your own research) to fully understand the project before opting to trade the token,” the warning reads.

Market Impact

Binance listings typically boost the liquidity, accessibility, and credibility of the listed assets. In this instance, both COW and CETUS experienced a remarkable increase of over 70% within 24 hours of the announcement. Although their prices slightly retraced afterward, they remained significantly higher than before the listings.

Previous Listing Example

Earlier this week, Binance also launched PONKE/USDT perpetual contracts, allowing up to 75x leverage. The Solana-based meme coin PONKE saw a 15% increase shortly after the announcement, climbing to over $0.50 before experiencing a decline. However, following the overall resurgence in the cryptocurrency market, its price began to rise again on November 6.