Binance Wallet will add a new service to highlight promising assets. Binance Alpha is being launched for select regional users, with the aim of highlighting assets that may thrive in the Binance ecosystem.
Binance Alpha is a new service for Binance Wallet users, aimed at pointing out newly added promising assets. The service arrives a few months after Binance made its foray into the token space, adding relatively new assets.
The wallet will be able to swap those tokens in the early stage when they are available on the DEX. However, not all assets are guaranteed to be listed. Binance Alpha will be available from December 18, although some regions may be excluded.
Binance will offer batches of five tokens, with the first batches expected to appear daily. The schedule for the new token batches will also be determined as the service expands to make them available.
Tokens on Binance Alpha will come with a quick buy button and automated MEV protection to reduce attacks and slippage. Some tokens may only have DEX trading and will still require personal research before purchasing.
Tokens on Binance Alpha will be released in batches, with 24-hour windows to explore or purchase. Binance advises users to back up their wallets before using the quick buy option. Binance will also provide advance announcements for users to prepare for the next Alpha session.
Binance makes token selection process more transparent
Binance Alpha could serve as a pre-listing token screening pool, although it stresses that there is no guarantee of listing on the spot or futures market. The service could increase the transparency of Binance’s review process ahead of new token listings.
Until recently, Binance wallets were monitored for adding new tokens, which usually indicated the creation of a spot market.
The new selection may include meme tokens, but it will also explore Web3 projects with more useful utility. Binance Wallet still offers an exclusive tab for the most active meme tokens as a separate category.
The launch of Binance Alpha follows a recent trend on social media, where influencers claim to have advance knowledge of Binance’s token selection. The new wallet features these influencers’ interfaces, removing some of the guesswork. Previously, any connection to Binance-linked wallets was presented as a sign of a potential listing. However, any token can be sent to a public wallet, and Binance has been relatively conservative when it comes to new spot markets.
With the addition of the new Binance Alpha, Binance has preempted speculation about its interest in new tokens. Ultimately, it is up to Binance to launch spot markets and give new tokens additional prominence. The service may hint at potential new listings, but it does not guarantee an addition to the official market.
All tokens on Binance Alpha will undergo additional screening based on a range of criteria such as community interest, tron trend, and value alignment. The token selection will serve as an educational tool and will not support specific tokens.
While last year was very successful for Binance’s centralized activity, its DEX and DeFi arms are lagging behind. Binance Smart Chain holds $5.85 billion in locked value, and it has yet to recover its 2021 levels.
However, Pancakecake has expanded its activity in the past month, growing by 13.35%. The exchange is the busiest application on BSC, generating $3.74 million in daily fees. For the full month of November, Pancakecake also generated $5.06 million in revenue, its best month in the second half of the year.
During the 2024 bull market, the BNB token also moved to a higher range. BNB was trading at $723.59, which could boost Binance’s decentralized ecosystem.