Binance Alpha, a newly integrated feature in Binance Wallet, is designed to showcase early-stage crypto projects with the potential for future official listing on Binance.
Many investors were excited about this new feature. However, statistics indicate that not all tokens appearing on the Binance Alpha list have increased in value.
Binance Alpha Falls Short of Creating FOMO as Expected
Binance created Binance Alpha as a pre-listing token selection platform to enhance transparency in the token review process for Binance listings. This platform enables traders to identify genuinely promising projects and improve their ability to predict Binance listings more effectively.
Investor @sankin_eth analyzed the data and revealed that 12 out of the 29 tokens announced on Binance Alpha last week now show lower Fully Diluted Valuations (FDV) than before the announcement. The top four performing tokens only managed to double in value, with small market caps ranging from $10 to $20 million at the time of listing.
Tokens listed through Binance Alpha have underperformed compared to those listed on Binance’s main platform. For example, PNUT and ACT recently experienced tenfold increases after their spot market listings on Binance.
“Binance Alpha has yet to create any significant impact. Perhaps the situation will improve once a project is listed on the spot market. These tokens have market caps ranging from $10 million to $1 billion, but the gap is too large. I believe focusing on projects with an FDV of $100 million or more is more likely to ensure price growth.” Investor sankin commented.
The tokens introduced by Binance Alpha span various market themes, including AI Agents, AI, DeFi, Meme Coins, and DeSci, across multiple blockchains like Base, Ethereum, Solana, and BNB Smart Chain (BSC). BSC-based tokens dominate the list, comprising 41% of the total.
Investor Dov attributes the underperformance of Binance Alpha tokens to the overall market conditions.
“Due to the current poor market environment, community attention toward Binance Alpha has decreased. I hope that Binance Alpha projects will improve over time.” Investor Dov commented.
At the time of writing, Binance had just announced a new batch of five tokens: MGP, ZEREBRO, COOKIE, WHALES, and ORDER. However, according to market observer WuBlockchain, Binance subsequently removed the MGP token.
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