Binance announced it would integrate Cetus, a trading protocol built on the Sui blockchain, sending its token value up more than 58% in the past 24-hour period.
Binance announced it would integrate Cetus, a trading protocol built on the Sui blockchain, sending its token value up more than 58% in the past 24-hour period.
News of the listing broke Tuesday when the largest cryptocurrency exchange in the world announced it would support both spot trading and futures contracts of the CETUS-USDT pair. Trading starts Wednesday, while functionality to withdraw the asset will be added the following day.
The market reacted quickly, and dramatically, as the price of CETUS more than doubled from $0.163 on Monday to an astonishing peak of $0.341 on Tuesday. The token has now stabilized at around $0.32, with a market capitalization of around $187 million.
At the same time, however, Binance is still treading with care by labeling CETUS as its "seed tag"—essentially, tokens that usually have a lower trading volume and higher price volatility. As another precautionary measure, traders interested in CETUS must also pass so-called risk awareness assessments every quarter to retain trading privileges in the token.
Cetus isn’t just like any other cryptocurrency token. According to its creators, it is a utility token of the same name that allows for seamless and trouble-free value exchange among network participants without intermediaries. This blockchain platform defines itself as completely decentralized; by using CETUS tokens, participants can earn passive income through liquidity mining activities.
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