Binance's new coin activities drive user engagement and trading volume
Recently, Binance has frequently launched new coin airdrops and IDO activities, attracting a large number of users to participate. Especially under the promotion of the Alpha Points mechanism, the trading demand for Binance Alpha tokens has significantly increased. According to data provided by @pandajackson, yesterday, Binance Alpha's trading volume set a historical record of $276 million.
As the participation threshold for Alpha Points gradually increases, as long as the new coin activities remain attractive, the trading volume and demand for Alpha tokens are expected to rise.
Project quality and review standards are called into question
However, the review standards for Binance's new coin activities have also become a hot topic in the market. Many community members believe that as long as the project party is willing to pay the chips, Binance seems willing to cooperate. For example, the recently announced exclusive TGE project MYX Finance by Binance Wallet in its 15th phase was revealed by netizens to have many dark histories.
MYX Finance, although a decentralized perpetual contract trading platform, previously issued the inscription BMYX on the Bitcoin network; however, after its issuance, it plummeted by 80-90%, and the team even directly withdrew liquidity, leaving only $24 in trading volume.
KOL AB Kuai.Dong further pointed out that the incubator D11 Labs behind MYX Finance is also an organization that specializes in incubating trash coins, with its invested projects having a notorious reputation within the community.
Unexpectedly, over a year of adverse events were uncovered by the community this time. A review of MYX Finance and the relationship network behind it with D11 Labs and Zhang Li revealed that this D11 Labs is quite similar to Web3Port, both incubating coin issuance groups. Currently incubating and servicing are: MYX Finance, Zulu, Pell, Bool, Parasail. Many are community projects with adverse impacts and events, making them hard to evaluate.. https://t.co/RJlKdIfIN1 pic.twitter.com/3Ifu0FI3O0
— AB Kuai.Dong (@_FORAB) May 5, 2025
CZ accuses the Boop founder but still lists on Binance Alpha
Another incident also raised questions about Binance's review mechanism in the market. Binance founder Zhao Changpeng (CZ) recently accused PancakeSwap founder, who is also the founder of the meme coin platform Boop, Dingaling, of impersonating a former Binance executive and claimed he was dismissed from Binance for engaging in insider trading.
Despite CZ expressing concerns, the BOOP token still successfully listed on Binance Alpha. This decision raised market doubts about whether Binance Alpha had lax reviews or double standards.
Attraction and potential risks
Undeniably, Binance uses these new coin activities:
Attracting a large number of new users.
Revitalizing the BNB Chain ecosystem.
Reducing its own responsibility (listing on Binance Alpha does not equate to listing on the main Binance exchange).
For users, participating in new coin activities also yields free airdrops, seemingly a win-win situation. However, does this strategy inadvertently condone low-quality projects entering the market, triggering deeper industry risks? Notable KOL BroLeon stated on X:
"Binance has always had top-tier selection capabilities among all CEXs; even if now it is Alpha, the most basic pool, it cannot just stuff in projects with a notorious track record, right? Otherwise, wouldn't that mean the industry leader is condoning bad coins driving out good ones?"
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