Binance Alpha has already announced 29 tokens in its selection program for Web3 wallet users. The ones that gained the most in that selection were the AI agent tokens.
After a botched start where a fake listing was announced, some of the tokens began trading based on renewed hype. Since the token’s launch, 17 assets have risen and 12 have fallen with the rest of the market.
The biggest gains were available for dark tokens that gained exposure through daily attention. Binance Alpha tokens are already in a class of their own, with a total valuation of $3.22 billion.
Binance Alpha was launched at a time when the cryptocurrency market had already fallen from its all-time highs. Most meme tokens and altcoins were also suffering drawdowns. At that time, Binance introduced the Quick Buy button, increasing exposure to up to five new tokens each day.
Binance Alpha tests multiple token tracks
Binance Alpha stated that it has rigorous criteria for token selection. However, the tool has been extended to various categories of tokens, checking which ones would work. The tokens were split between AI agents, animal memes, older DeFi tokens, DeSci, DAO, and AI infrastructure. The selection tracks some of the hottest narratives of 2024.
Binance Alpha tokens were taken from Ethereum, Solana and Base, where the majority of Ethereum tokens were DeFi assets, while the AI agents were deployed on Solana or Base. The selection included seven Solana tokens, 10 tokens on Binance Smart Chain, three on Base, and nine on Ethereum.
The Binance Alpha selection included a wide range of valuations, from a market capitalization of $10 million to $1 billion for more established tokens. The strongest gains came from early-stage tokens with relatively small valuations.
Binance Alpha also eventually chose Wise Monkey (MONKY), which was also part of the initial list of fake tokens. Unfortunately, MONKY fell since the promotion, erasing over 12% of its value to trade at $0.000015.
The token tool also selected Rifampici (RIF) and Urolithin (URO), which have attempted to become featured DeSci tokens. Binance has expressed interest in DeSci, but its approach is not enough to make the tokens rally. RIF and URO ended with minor losses compared to other tokens.
AI Agents Are Among Most Common Binance Alpha Picks
AI agents on Binance Alpha included ChainGPT, AI Cell, FARTCOIN, AI16Z, Griffain, Virtuals’ AIXBT and Virtuals’ Luna, ZEREBRO and Cookie DAO (COOKIE) in the latest batch of tokens. Most AI tokens have passed their initial stage and have other factors driving their price.
After being added to Binance Alpha, FARTCOIN actually lost ground, sinking to a low of $0.55. Binance’s selection coincides with a slight recovery of the entire AI broker market, to a total market capitalization of over $8.11 billion.
Some of the smaller or forgotten AI agent tokens were among the biggest winners. Among them were Shoggoth, FROG, BOB, TERMINUS and Numogram (GNON). The biggest losses were suffered by APX (-28.12%) and GRIFFAIN (-25.41%).
DeFi Offerings Among Top Earners
DeFi tokens were among the most consistent gainers according to Binance Alpha selection. ODOS was the leader, a widely used DEX on the Base chain, with a gain of over 65%. MGP and GEAR gained about 30% on average, due to their lover’s valuation of $100 million and $140 million, respectively.
Binance’s selection included DeFi tokens valued in different price ranges, starting at less than $50 million FDV, several selections below $200 million, and two top tokens valued in the $300 million to $500 million range.
Binance Alpha is focusing on those relatively new tokens at a time when enthusiasm for altcoins has already waned. The Altcoin seasonal index fell again to 53 points, with BTC outperforming most established tokens.
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