In every cycle of the crypto market, certain innovative mechanisms emerge to become hot topics driving industry development. The Launchpad/Launchpool launched by Binance is a prime example. By rigorously selecting and reviewing projects, simplifying user participation processes, and immediately providing matching and liquidity support after project launches, Launchpool has quickly grown into an industry benchmark in just a few months.
Multiple now-established star projects initially completed financing and cold starts on the Launchpool platform. With the global user base and deep liquidity of Binance, these projects quickly formed market effects. Historical data has repeatedly verified their value, with projects maintaining an average ROI at a high level over the long term, making them widely regarded as one of the most reliable early investment channels.
In this cycle, Binance launched the new mechanism 'Binance Alpha.' The launch of Alpha sparked widespread discussion. Some believe it is a new value discovery tool in the crypto market, providing users with stable returns and early opportunities. Others complain that Binance Alpha projects often peak immediately after launch, with users more resembling opportunists and failing to bring real incremental value to the projects.
It is in this controversy and discussion that the Binance Alpha project also surpassed 100 issues.
Ranked first in crypto wallet trading volume for 15 consecutive weeks
Binance launched Binance Alpha on December 17, 2024. Initially, it was just an experimental discovery tool within the Binance Web3 wallet to identify potential projects. In the early stages, the projects launched on Alpha were mainly Meme and AI tokens. Starting from early 2025, Alpha's scope gradually expanded to non-Meme tokens.
Then, the real turning point occurred in March 2025. Binance Alpha iterated to 2.0, introducing Alpha points and integrating directly with CEX, allowing users to participate in Alpha token trading directly with exchange account funds without additional cross-chain operations. Data shows that on March 18, the on-chain transaction amount of the Binance wallet reached 90.556 million USD, accounting for 54.1% of the total trading volume in the crypto wallet sector that day, ranking first in the market, with daily trading volume increasing more than 24 times compared to early March. The number of active trading users also reached 28,103, ranking first and accounting for 29.5% of the total active traders in the sector.
The latest data shows that the trading volume generated by the Binance wallet accounts for 93.7% of the total trading volume in the crypto wallet sector, consistently exceeding 90% for 15 consecutive weeks.
47.5% of Alpha projects launched on Binance Futures
Of course, some users attribute the high trading volume of the Binance wallet to the launch of the Alpha points system. The points mechanism incentivizes users to trade frequently, thereby boosting the overall activity of the wallet.
However, attributing the growth in trading volume solely to Alpha points is undoubtedly an over-simplification of the iterative development and ecological operation of the Binance wallet product. Alpha points are more like a fuse; the real support for its high growth is a comprehensive system formed by optimizing product experience, releasing wealth effects, and supporting project ecosystems.
The Alpha points rules require users to maintain trading and asset holdings over a certain period to have the opportunity to receive future project airdrops or subscription qualifications. For many users, this is a low-threshold way to participate; just completing daily trades gives them a chance to capture future returns. Undoubtedly, this mechanism can effectively increase users' trading frequency in the short term. However, in the long run, the dividends brought by points may gradually diminish as the number of quality projects becomes scarce. Therefore, points themselves cannot be the sole explanation for the long-term growth of the Binance wallet.
This brings us to the strategic positioning of Alpha 2.0, which directly brings early-stage crypto projects into the Binance wallet and trading platform system.
For project teams, through airdrops or presales, projects can quickly gain initial exposure and accumulate initial liquidity in the Alpha market. For users, they can discover potential projects early and enjoy early project benefits. For Binance, this is a new mechanism that connects CEX and DEX, enabling users to seamlessly conduct decentralized operations within a centralized exchange.
Data shows that Binance Alpha has launched a total of 294 projects to date, with 114 projects already listed on the futures market and 36 projects listed on the main site spot market. If we only count the 152 Alpha projects related to TGE, airdrops, and Boosters, then 72 projects have been launched on the futures market, and 23 projects have been launched on the main site spot market, accounting for 47.5% and 15%, respectively. The most controversial points airdrop projects total 115, with 54 launched on the futures market and 18 on the main site spot market, accounting for 46.9% and 15.7%, respectively.
This mechanism of token distribution, trading, and launching on the main site essentially represents a fusion of CEX and DEX, just as Binance Alpha 2.0 allows users to perform DEX operations directly on CEX. Users can enjoy the openness and early benefits of decentralized markets while obtaining security, compliance, and deep liquidity guarantees in centralized exchanges. For project teams, this is a low-cost, high-efficiency financing and promotion platform. For Binance, this serves as a bridge that unites Web3 users and CEX users into the same ecosystem.
High ROI and strong liquidity
If we calculate ROI based on the closing price one hour before the project goes live on Alpha and the highest daily closing price after the launch, the average ROI of Binance Alpha projects reaches as high as 227%. Among them, there are projects with ROI exceeding 1000%, such as AIOT, SHELL, and M. More notably, out of all the projects, 132 had an ROI exceeding 50%, while only 49 projects had a negative ROI. This means that the vast majority of investors have achieved considerable positive returns in the Alpha ecosystem.
The wealth effect brought by such high ROI has become the strongest driving force for attracting new users and retaining existing users for the Binance wallet. Whether it is the points reward mechanism or the high returns of the projects, they essentially point to the same fact: users choose to stay because they can truly make money here. In stark contrast, other trading platforms' wallet products, despite trying various incentive programs, often fail to generate similar wealth effects due to a lack of sufficiently quality projects, ultimately struggling to maintain long-term user activity.
Such achievements are not accidental. Compared to other platforms that chase short-term trends, Binance Alpha is stricter in project selection and pays more attention to the long-term potential and market value of projects. This allows Alpha to maintain a high ROI while significantly increasing the overall success rate of projects compared to its peers.
If high ROI is merely displayed in data, it would just be a digital game. Binance Alpha's leading position in the industry is also due to its strong liquidity. Almost all launched projects can achieve trading volumes in the tens of millions during the opening phase, with depth sufficient to support large capital inflows and outflows.
According to data from CoinMarketCap, the daily trading volume of Binance Alpha projects reached 4.4 billion USD. After excluding trading pairs like KOGE and BR, which are commonly viewed as having significant wash trading, the average daily trading volume still stabilizes above 1.5 billion USD, reaching levels comparable to Bitget, Bybit, and Coinbase.
Source: CoinMarketCap
For investors, the significance of Binance Alpha lies in meeting the two core market demands: high ROI and strong liquidity. Supported by these two dimensions, Alpha is not only an investment channel but also an ecological entry point.
As Chari.eth, the founder of TaleX Protocol, said, I just needed a place to distinguish our tokens from thousands of similarly named tokens and to allow users to trade conveniently through CEX. Think about it, if you invented Bitcoin back in the day, wouldn't that be all you needed? From this perspective, Binance Alpha perfectly meets my requirements.
