In a recent analysis, Binance Alpha, the innovative feature within Binance’s Web3 Wallet, completed the list of 29 new tokens over the past week. More than 40% of the tokens have fallen in value, and investors are now “raising their eyebrows” about whether Binance Alpha projects are worth looking at.
According to information shared on X by @sankin_eth on (FDV). of their initial trading values.
The market capitalization of these tokens at the time of their listing varied significantly, with the highest value being less than $1 billion and the lowest being over ten million. Binance Smart Chain (BSC) accounted for 41.4% of listed assets.
In terms of thematic or “narrative” classification, the tokens were classified into six sectors, with artificial intelligence (AI) agents, animal-themed memes, and DeFi being the most prominent.
Tokens Plunge After Binance Alpha Launch
Although some chips saw substantial profits After the announcement of its launch, several experienced sharp drops. BOB saw the steepest drop, falling 23.2% in 24 hours, while BANANA fell 14.4%. PSTAKE also faced a decline, albeit less severe, with a 7% decline over the same period.
2024-12-23 #BinanceAlpha 上线资产统计
Binance Web3 Wallet Binance Alpha Binance Alpha 3 天的时间分别分四批上线了 29 9个代币），过了一个周末，看看这些代币截至目前的市值表现如何？盈亏表现
29… pic.twitter.com/rgV4AZ0mva– 做表人小郭 (@sankin_eth) December 23, 2024
According to analysis cited by Wu Blockchain on DeFi tokens SYRUP and SD, launched in the same batch, also suffered the same fate, falling 15% and 21% in FDV values, respectively.
Additionally, tokens with smaller market capitalizations have shown significant volatility, with Shoggoth, FROG, BOB, TERMINUS, and GNON leading the gains, each increasing over 100%. On the contrary, APX and GRIFFAIN recorded the steepest drops, of 28% and 25%, in the aforementioned order.
By @sankin_eth analysisBinance Alpha has not yet created a significant wealth effect, suggesting that the true potential could only be realized once the selected projects are listed on the main Binance spot market. The cryptocurrency enthusiast recommended Binance Alpha consider tokens with higher FDVs, ideally over 1 billion, to provide substantial growth opportunities to secondary market investors.
Furthermore, they emphasized the importance of diversifying coins even further, and implement a delisting mechanism for underperforming tokens, similar to Binance’s main exchange strategy, to maintain a curated selection of assets.
Binance US prepares to activate USD services in 2025
Binance US, the US subsidiary of global cryptocurrency exchange Binance, is preparing to reintroduce US dollar services, aiming to launch in early 2025. The update was shared by interim CEO Norman Reed in a recent blog post , who believes the exchange is making great progress toward restoring the platform’s dollar offerings in the US.
“We are closer than ever to recovering dollar services and are focused on achieving this milestone by early 2025.” Reed stated. Furthermore, he emphasized the platform’s commitment to offering low fees and high rewards to solidify its position in the competitive cryptocurrency market.
The announcement follows recent comments by the exchange’s chief executive, Richard Teng, who, in a December 9 Bloomberg article interviewHe described discussions on reestablishing the exchange in the United States as premature.
The crypto exchange debuted in 2019 and offers regulated cryptocurrency trading for US users. However, its operations faced a major challenge in June 2023 when the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance. The SEC accused the company of failing to properly register Binance US as an exchange and violating various regulatory laws.
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