The Binance cryptocurrency exchange has announced a new initiative called Binance Alpha, which is tied in with the Binance Web 3 Wallet. 

Through the Binance Alpha feature, the exchange highlights early-stage cryptocurrency projects that they identify as having potential for future growth. Notably, projects that are selected to Binance Alpha are potential candidates for future listings on the Binance exchange.

The second batch of 5 Binance Alpha Projects is now Live! Discover the latest tokens spotlighted in the #Binance Wallet. Navigate to the [Markets] ➡️ [Alpha] tab. Tap [Quick Buy] to purchase. Click here ➡️ https://t.co/8UsowUpgzy pic.twitter.com/Y2HbzCxSg7

— Binance Wallet (@BinanceWallet) December 18, 2024

Given the huge influence Binance wields in the cryptocurrency industry, it’s no surprise that a Binance Alpha selection can have a significant impact on markets. 

After all, a Binance listing can significantly increase a cryptocurrency’s price, and even the fact that Binance could potentially be considering a cryptocurrency for a listing can be enough to move markets. 

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In this article, we’ll quickly highlight the projects that have been highlighted on Binance Alpha so far and check whether the selection had a noticeable impact on their price. 

Before we continue, it’s important to understand that a project being highlighted on Binance Alpha is not an endorsement or a guarantee that it will be listed on Binance in the future. 

Coins highlighted on Binance Alpha have seen notable price increases

Currently, it appears that a selection to Binance Alpha has a positive impact on the price of tokens. At the time of writing, Bitcoin is down 2.4% in the last 24 hours, and 88 of the top 100 coins in the crypto top 100 lost value in the same time period. Meanwhile, 9 of the 10 coins featured on Binance Alpha have displayed a positive performance in the same time period, with 4 of them increasing by 10% or more.

Here are the first 10 cryptocurrencies selected for Binance Alpha:

Gearbox Protocol was the best performer out of all the coins featured in the first two Binance Alpha batches, as it gained 37% in the last 24 hours despite a red day for the crypto market overall. Cakepie almost matched the performance of Gearbox Protocol with a 34.7% price increase in the same period. 

DeFi project ApolloX was the only one among the featured coins to lose value, as it's down roughly 10.7% on the day.

It's perhaps not too surprising that Binance has displayed a slight favoritism towards BNB Chain projects so far. Among the first 10 projects highlighted on Binance Alpha, 4 are built on BNB Chain, 3 are built on Ethereum, 2 are built on Solana and one is built on the Base layer 2 for Ethereum.  

Binance Alpha coins – The first 10 cryptocurrencies featured on Binance Alpha

Cakepie

Cakepie is a SubDAO (sub-decentralized autonomous organization) launched by yield boosting platform Magpie. The Cakepie SubDAO is designed to improve the long-term sustainability of PancakeSwap, which is the leading decentralized exchange in the BNB Chain ecosystem. 

Gearbox Protocol

Gearbox Protocol is a decentralized finance project that provides access to generalized leverage. The protocol is designed to reflect the prime brokerage experience traders can access in traditional markets, and allows DeFi users to access up to 10x leverage for use across the decentralized finance ecosystem. 

Stader

Stader is a liquid staking protocol that supports the Ethereum, BNB Chain, Polygon and Hedera blockchain networks. Thanks to Stader's liquid tokens, traders can retain liquidity despite staking their cryptocurrency to earn rewards. The liquid tokens can be used elsewhere in the DeFi ecosystem, opening up the opportunity for additional rewards. 

Syrup

Syrup Finance is a decentralized finance (DeFi) platform created to provide institutional-grade yield opportunities through secured lending. Its mission is to transform traditionally opaque and exclusive financial services into a more transparent and accessible system for all users. Syrup enables participants to engage in lending and other financial activities, earning rewards known as "Drips."

Fartcoin

Fartcoin is a meme coin built on the Solana blockchain, originally conceptualized by an AI agent known as Terminal of Truths. The idea for Fartcoin was first introduced on the Infinite Backrooms platform, where AI agents interact and exchange ideas. The coin's inherent absurdity garnered substantial public attention, driving significant interest and a surge in its token price. At its height, Fartcoin reached a market capitalization of approximately $860 million.

Koma Inu

Koma Inu is a meme coin launched on the BNB Chain blockchain platform. Like with most other meme coins that have been gaining traction in 2024, the KOMA token doesn't have any special utilities, and is primarily a vehicle for price speculation, relying mostly on social media campaigns and memes. 

Cheems

Cheems is a meme coin on the BNB Chain blockchain inspired by a Shiba Inu dog called Cheems, which is the subject of a viral internet meme. One notable aspect of CHEEMS is that the token's entire supply was distributed through an airdrop. Other than the distribution, CHEEMS appears to be a fairly standard meme coin with no utilities other than speculative trading. 

APX

ApolloX is a DeFi platform that allows users to trade cryptocurrencies in a decentralized manner with access to very high leverage (up to 1,001x). The ApolloX protocol supports a variety of blockchains, including BNB Chain, Ethereum, Arbitrum One, ZkSync Era and Base. In addition to leveraged trading, the ApolloX platform also provides access to yield-earning opportunities for liquidity providers. 

ai16z

Ai16z is a decentralized venture capital fund that combines AI-powered decision-making with DAO governance, utilizing community input and a virtual trust framework to back cryptocurrency and Web3 initiatives. The investment strategy of ai16z is guided by AI analysis of DAO member suggestions, with decisions influenced by performance metrics and token ownership within the network.

AIXBT

AIXBT is an AI-powered crypto market intelligence platform tailored to give token holders a competitive advantage in the fast-paced cryptocurrency markets. The platform monitors cryptocurrency community discussions on the X social media platform with the goal of identifying opportunities for profitable trades. The analytics provided by the AIXBT platform can only be accessed by AIXBT token holders.