🥥 Let's talk about Binance wallet's Alpha market.
Firstly, responding to the logic of listing coins at this stage.
Secondly, filtering potential coins for users to choose from, trying to expand its share in the decentralized market.
As the largest exchange in the universe, backed by strong traffic and resource background, the launch of the Alpha sector has received much skepticism and criticism.
Sharing some personal views👀.
🪡 On the topic of coin listing.
Firstly, the coin listing route often involves VC coins, which basically peak at opening and then decline.
This cannot all be blamed on exchanges; a lack of liquidity in the market can't withstand the dumping of high market cap tokens, and VC institutions, project parties, and users all need to cash out, which makes increasing exit liquidity on exchanges very reasonable.
The listing fee is to be earned, but unfortunately, VC coins don't have much profit potential for retail investors; the ones that hold until the end have all dropped significantly.
Look at how many people have held $arb, $op, $strk, atom, etc., for years and are still at a loss; only when the market is good can they barely break even.
At this time, meme coins provided a wealth effect⛑️.
Some small market cap coins will inevitably explode in the short term upon listing.
Whether it's rat trading or insider trading, there exists a dynamic game process.
Users didn't make money; in fact, they bought and lost money, leading to complaints. The essence is a large casino PVP; if you are not a stakeholder, you will see areas of dissatisfaction.
Speaking of this model, other exchanges have been doing it for quite some time, voting and polling.
In essence, they are all the same; Binance's Alpha is more like a guessing game. If you guess right, you make money, and it also hopes to attract more users to come play.
At least it’s an attempt.
The decline and lack of buyers are more about the limited market money; it's all a saturated market.
🧵 Now, let's talk about wallets.
The competition for web3 wallets has already entered a heated stage.
Binance wallet started slowly, and its product updates seem a bit disconnected from the market; its plugins are not as versatile as OKX, Metamask, and Trust wallet.
For a while, a large number of users shifted from Metamask to OKX wallet, reflecting user choices.
> Binance wallet lacks penetration.
Many people only realized that Binance also has a wallet function because of this.
Embedding the exchange interface is a very good practice, as it encourages users to frequently open the exchange and enter the wallet.
🖊️ A few suggestions for the wallet.
1) Build a web3 independent wallet that supports multiple chains, cross-chain functionality, and multi-account import.
2) First, complement the good features of other competing wallets to ensure smooth user experience.
3) Add some aggregation of alpha coin information, discussion communities, and encourage creators to publish within it. There’s a lot that can be done.
4) Then, most importantly, you must educate users, strengthen market promotion, hold events, tutorials, etc., to help users understand the advantages and potential of Binance wallet.
5) The wave of Binance wallet inscriptions should have been a great breakthrough, firing the first shot, but unfortunately, there was no further movement following the extinguishing of inscriptions. Many users lost confidence, hoping the product team could get closer to users and the market, continually improving and adjusting, hoping to do better.
