Binance Alpha, a platform dedicated to early crypto projects from the global crypto exchange Binance, announced the listing of Xterio (XTER). Despite this news, the token's price fell by double digits.
Furthermore, the exchange announced that it will list SOON (SOON). Trading for this token will begin on May 23, 2025.
XTER declines despite the listing on Binance Alpha.
For context, the XTER token powers the Web3 platform for Xterio games. The platform allows developers to create on-chain games and provide creative gaming experiences. In July 2023, Binance Labs invested $15 million in Xterio.
The funds were directed towards accelerating game development, supporting the integration of AI technologies, and facilitating the launch of Xterio tokens to expand its gaming ecosystem.
It is important to note that the latest listing of XTER also includes an airdrop on Binance Alpha. According to a post on X (formerly Twitter) from May 19, eligible users can receive 294 XTER tokens starting at 8:00 UTC on May 19, through the Alpha Event page.
"Users need to confirm receipt on the Alpha Events page within 24 hours (by 8:00 UTC on May 20, 2025), otherwise it will be considered that users have waived their right to the airdrop," the message stated.
To be eligible, users must accumulate at least 194 Binance Alpha points. Additionally, to receive the airdrop, 15 Binance Alpha points need to be spent, which will be deducted from the user's balance.
However, the listing had no positive impact on the price. BeInCrypto data showed that XTER dropped by 15.8% in the last 24 hours. At the time of writing, it was trading at $0.28. Binance Alpha announces an airdrop and listing of SOON.
Meanwhile, in another post from May 19, Binance Alpha also announced the addition of SOON tokens.
"Get ready! Binance Alpha will be the first platform to present SOON (SOON)! Trading will open on May 23," Binance stated.
Like XTER, SOON will be distributed among eligible users using Alpha points. However, the exchange has not yet disclosed the eligibility requirements. The airdrop event page and detailed rules will be published on May 23.
The SOON token serves as the native utility token of the Solana Optimistic Network (SOON), a high-performance Layer 2 (L2) blockchain platform.
The strategy of Binance Alpha to integrate airdrops with trading opportunities reflects previous successful implementations. It aims to stimulate user participation while fostering the growth of new projects.
In fact, the system significantly increased activity. BeInCrypto reported that the implementation of Binance Alpha Points triggered a surge in trading volumes. According to the latest data from Dune, the total volume reached approximately $12 billion, and the total number of transactions exceeded 25 million.
