Binance Alpha Listed Tokens Drop in Price After Announcement
Binance Alpha, Binance’s new integrated features walletDesigned to showcase early-stage crypto projects with potential for future official listing on Binance.
Many investors are excited about this new feature. However, statistics show that not all coins appearing on the Binance Alpha list have appreciated in value.
Binance Alpha fails to create FOMO as expected
Binance Created Binance Alpha serves as a pre-listing token selection platform that aims to increase transparency in Binance’s token review process. The platform enables traders to identify truly promising projects and improves their ability to predict Binance listings more effectively.
Investor @sankin_eth analyzed the data and revealed that 12 of the 29 tokens announced on Binance Alpha last week had lower fully diluted valuations (FDV) than before the announcement. The four best-performing tokens have only doubled in value and were listed with smaller market caps of between $10 and $20 million.
Tokens listed through Binance Alpha have underperformed compared to tokens listed on the main Binance platform. For example, PNUT and ACT After its recent listing on the Binance spot market, the price increased tenfold.
“Binance Alpha has not made any significant impact yet. Maybe once the project is listed on the spot market, things will improve. The market cap of these tokens ranges from $10 million to $1 billion, but the gap is too big. I believe the focus is on FDV Projects of $100 million or more are more likely to secure price growth,” said investor Sangin. commented.
Binance Alpha launches tokens covering a variety of market themes including artificial intelligence agent, AI, Decentralized Finance, Meme Coinand desiacross multiple blockchains, e.g. according toEthereum, Solanaand BNB smart chain (balanced scorecard). BSC-based tokens dominate the list, accounting for 41% of the total.
Investor Dov attributes Binance Alpha token’s poor performance to overall market conditions.
“Due to the current poor market environment, the community’s attention to Binance Alpha has declined. I hope that the Binance Alpha project can continue to improve over time.” Investor Dov commented.
As of this writing, Binance has just announced a new batch of five tokens: MGP, ZEREBRO, COOKIE, WHALES, and ORDER. However, according to market watcher WuBlockchain, Binance subsequently MGP token deleted.
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