As a seasoned investor with over two decades of experience in the ever-evolving crypto market, I have seen my fair share of promising projects that didn’t quite live up to their potential. Binance Alpha, while an intriguing concept, seems to be falling short of its intended purpose – creating FOMO and enhancing transparency for potential listings on Binance.
The Binance Wallet now includes Binance Alpha, a new tool that highlights upcoming cryptocurrency initiatives which could potentially be listed officially on Binance in the future.
While many investors showed enthusiasm for this novel feature, data suggests that not every token listed on Binance’s Alpha platform has seen an increase in worth.
Binance Alpha Falls Short of Creating FOMO as Expected
Binance developed Binance Alpha as a platform for selecting tokens prior to listing, aiming to increase transparency during the review process for new Binance listings. This tool allows traders to spot potentially successful projects and become better at forecasting which tokens will be listed on Binance in the future.
After examining the data, Sankin_eth found that 12 out of the 29 cryptocurrencies unveiled on Binance Alpha last week now have lower Total Fully Diluted Valuations (TFDV) than prior to the announcement. The top four tokens increased in value by no more than double, and their market caps were relatively small, ranging from $10 million to $20 million at the time of listing.
As a crypto investor, I’ve noticed that tokens listed via Binance Alpha haven’t been performing as well as those listed on Binance’s primary platform. Take PNUT and ACT for instance, they both saw astonishing ten-fold increases following their spot market listings on the main Binance platform.
Investor Sankin stated that Binance Alpha hasn’t made a substantial difference so far. However, he anticipates potential improvements when a project gets listed on the spot market. These tokens have market caps varying from $10 million to $1 billion, but the disparity is vast. In his opinion, it would be more effective to concentrate on projects with an FDV (Fully Diluted Valuation) of $100 million or higher, as this seems more likely to drive price increases.
The tokens presented by Binance Alpha encompass a variety of market topics, such as AI Agents, Artificial Intelligence, Decentralized Finance, Meme Cryptocurrencies, and Decentralized Science (DeSci), spanning various blockchains like Binance Smart Chain (BSC), Ethereum, Solana, and Base. BSC-associated tokens account for a significant portion of the list, making up about 41%.
Dov, an investor, links the poor performance of Binance Alpha tokens to prevailing market circumstances.
In light of the present unfavorable market conditions, interest from the community in Binance Alpha seems to have dwindled. However, I’m optimistic that Binance Alpha projects will show improvement as time goes on,” said Investor Dov.
As I write this, Binance has recently introduced a group of five tokens: MGP, ZEREBRO, COOKIE, WHALES, and ORDER. But as noted by market analyst WuBlockchain, the MGP token was later taken off Binance’s list.
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2024-12-23 14:56