TL;DR

• Binance added two new cryptocurrencies to its platform, causing a substantial price rally for the affected ones.
• However, those were listed with seed tags, meaning users should be increasingly cautious when entering the ecosystem.

The Price Boost

Binance announced the listing of the altcoins Cow Protocol (COW) and Cetus Protocol (CETUS). The newly introduced trading pairs include COW/USDT and CETUS/USDT, and clients can now start depositing. Withdrawals will be available from November 7. 

Trading Bots & Spot Copy Trading services will be enabled on the same day. “For users with running Spot Copy Trading portfolios, pairs can be included by enabling them in the [Personal Pair Preference] section of the Spot Copy Trading settings,” the company clarified.

It is important to note that COW and CETUS were added with seed tags. Tokens in this category represent “innovative projects that may exhibit higher volatility and risks” than other listed assets. That said, users should pay extra attention and conduct proper due diligence before hopping on the bandwagon.

“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.