We explain which tokens are 'taking off' on Binance Alpha.
Binance has launched the Binance Alpha platform.
The platform helps investors discover promising tokens earlier than others.
Coins that hit Binance Alpha demonstrate a certain pattern.
The team of the largest cryptocurrency exchange Binance has introduced the Binance Alpha platform. It helps users familiarize themselves with promising coins.
Chinese journalist Colin Wu noted the pattern of behavior of coins that hit Binance Alpha. His analysis could become one of the details of a scheme for earning on new cryptocurrencies.
What is Binance Alpha?
Binance Alpha is a platform integrated into the Binance cryptocurrency wallet, Binance Wallet. It helps find crypto projects in their early stages of development. The platform's team selects tokens with high community interest and growing popularity. It concerns coins that align with key Web3 trends.
Binance Alpha allows users to study information about tokens and purchase them through the 'Quick Buy' feature. This tool simplifies the buying process and improves prices compared to other exchanges.
Additionally, the platform includes protection against malicious transactions and automatic deal parameter settings.
Binance Alpha does not guarantee the listing of tokens on the Binance exchange. It is more of an educational platform for studying promising projects.
Which coins are 'taking off' on Binance Alpha?
Chinese crypto journalist Colin Wu noted the platform statistics, previously analyzed by trader @sankin_eth. Out of 29 tokens presented after the launch of Binance Alpha, 17 increased in price, while 12 decreased. It turned out that coins with lower market capitalization performed better. The top performers, with an increase of over 100%, included Shoggoth, FROG, BOB, TERMINUS, and GNON. APX and GRIFFAIN declined more actively than others.
FDV (Fully Diluted Valuation) is a metric that reflects the potential market capitalization of a token if all issued or planned tokens are in circulation. This metric allows for the assessment of the maximum possible value of a project based on the current token price.
It turns out that tokens with low capitalization show better results on Binance Alpha, but their growth is limited compared to similar tokens that were listed earlier.