A cryptocurrency called Cetus (CETUS) has exploded in value after Binance, the world’s largest crypto exchange, announced it would start trading the coin.
Cetus Takes Off
Binance will be offering both spot trading and futures contracts for CETUS, paired with USDT, starting on Wednesday. Withdrawals will be available from Thursday. The news sent CETUS prices skyrocketing, with the coin reaching a high of $0.341 on Tuesday, a massive 109% increase from its Monday low of $0.163. At the time of writing, CETUS is trading for $0.31, with a market cap of $101.8 million, making it the 439th largest cryptocurrency.
Binance’s “Seed Tag”
Binance has labeled CETUS with a “seed tag,” which they use for projects with lower liquidity and potentially higher volatility compared to other listed tokens. This means users who trade CETUS will need to pass quizzes every 90 days to ensure they understand the risks involved.
What is Cetus?
Cetus is a decentralized exchange (DEX) and concentrated liquidity protocol built on the Sui blockchain. The project’s website describes CETUS as a utility token designed for use within the Cetus ecosystem. Users can earn CETUS through liquidity mining, and it acts as a medium of exchange for transactions within the platform. The goal is to provide a secure and decentralized payment system for Cetus users, eliminating the need for intermediaries.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always do your own research before investing in any cryptocurrency.
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