Sui-Based Token $CETUS Soared 70% on Binance Listing

On Wednesday, popular crypto exchange Binance announced the Cetus token (CETUS) listing, which spiked by 70% following the news, sparking enthusiasm in global markets.

According to Binance, trading for the CETUS/USDT pair commenced at 12:00 UTC on Wednesday, and withdrawals were available at the same time on November 7.

The Cetus token (CETUS) is the governance and utility token of the Cetus Protocol, a decentralized exchange (DEX) and liquidity platform operating on the Sui and Aptos blockchains. The protocol aims to provide an efficient and user-centric platform for token swaps, liquidity provisioning, and DeFi activities, leveraging the capabilities of these two developing blockchains.

Trader Records a Paper Profit of $800K in CETUS

Blockchain analytics provider Lookonchain highlighted that a whale known as “igris” invested $1.1 million to acquire 6.19 million CETUS through two wallets from September 21 to October 14.

As of Lookonchain’s report, the holdings are now valued at $1.9 million, reflecting an unrealized profit of $800,000, or a 72% gain.

Binance Lists COW/USDT Pair

In related news, Binance also announced the listing of the Cow token (COW), resulting in an 80% price increase shortly after the reveal. Trading for the COW/USDT pair, similar to the CETUS token, began at 12:00 UTC on Tuesday, with withdrawals scheduled to start on November 7 at 12:00 UTC.

The COW token powers the Coincidence of Wants (CoW) Protocol. This decentralized trading protocol enables peer-to-peer transactions and optimizes trade execution using a unique batch auction method.

Market Reaction

Following these listings, both tokens entered a bullish trend. At the time of reporting, COW surged by 82.5%, reaching $0.4364, with a 24-hour trading volume increase of 2058% to $8.62 million. CETUS, meanwhile, climbed 70% to $0.3037, with trading volume rising by 812% to $116.53 million. 

Notably, Binance classified CETUS and COW as “seed” assets, marking them as high-risk. The exchange also announced that trading bots and spot copy trading services would be available for these tokens within 24 hours of their listing on the spot trading platform.

Finally, Binance disclosed that the listing fee was set at 0 BNB, emphasizing its support for the newly listed tokens.