Binance Alpha 2.0 became one of the main drivers for transactions and DEX activity on BNB Smart Chain. The token trading platform achieved volumes of $2B on May 20, setting a new all-time record.
Binance Alpha 2.0 achieved daily volumes of $2B as of May 20, setting a new price record. The activity on BNB Smart Chain and Binance Wallet increased, incentivized by token airdrops and trading competitions.
Binance Wallet reflected the growing demand for alpha points farming and DEX swaps for the hottest tokens. | Source: Dune Analytics
Binance Alpha once again became the main source of volumes for the Binance Web3 wallet, which has set daily records for the past week. In the past week, Binance Alpha increased its volumes by 223%, tapping both centralized and decentralized users.
Binance Alpha 2.0 boosted by airdrop hunters
The main goal of Binance Alpha 2.0 was to consolidate Web3 activity and connect it to Binance’s centralized trader user base. The launch led to special incentives for Binance Wallet users, in turn expanding volumes and transactions.
Initially, the platform saw limited usage until traders noticed multiple incentives for valuable airdrops. This, in turn, increased the farming of alpha points, especially after the initial valuable airdrops. The early users of Binance Wallet and the Alpha feature gained access to ZORA, DOOD, SIGN, and other valuable assets.
Binance Alpha had relatively low requirements for its first clients. Currently, there is a longer checklist for airdrop hunters, including a balance on the centralized exchange and in the Binance Web3 wallet. The other requirement is active trading of all the newly offered tokens through the Binance Alpha program.
The inflow of users into Binance Alpha follows the increasing value of alpha points. The points balance will become one of the main criteria for future airdrops and token sales through Pancake Swap.
BNB Smart Chain saw 365 IDO and ICO events in the year to date, based on Cryptorank data. Despite the relatively low number, PancakeSwap IDOs have the second-highest profitability.
The exposure and potential listings on Binance raise demand for those events, further drawing in users to Binance Alpha.
BNB Chain regains its lead
BNB Chain returned as a leader in EVM-compatible networks. PancakeSwap now carries over 41.9% of DEX volumes, surpassing Base and even Uniswap on Ethereum.
PancakeSwap now produces over $2M in daily fees, retaining a higher baseline in May. The native BNB token once again flipped Solana (SOL), rising to $653.73.
Binance Smart Chain competes with Solana as the go-to chain for memes and token activity. The airdrop incentives are generating additional traffic, though not all of the swaps are organic.
In 2025, Binance continues its deliberate efforts to increase traffic, grow value locked and become the go-to hub for Web3 activity. The chain increased its DEX volumes and saw higher demand, as PancakeSwap solved the issue of sandwich attacks.
At the same time, Solana activity depends on the appeal of meme tokens, leading to a mix of hype and slower periods. Solana retains the leadership as the main network for bots, while BSC hosts only 1.2% of all bot traffic.
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