Golden Finance reported that according to the data panel @pandajackson42, on June 15th, the trading volume of Binance Alpha continued to decline and once again fell below the $1 billion mark, reaching $777 million. Since June 8th, the trading volume of this platform has shown a continuous downward trend.
On the day of trading, tokens such as ZKJ, KOGE, and AB were quite active. Among them, the trading volume of ZKJ reached 417 million US dollars, topping the list among numerous trading tokens. The trading volume of KOGE is 91.72 million US dollars, and that of AB is 65.69 million US dollars. Both are also among the top in the trading volume ranking.
Binance Alpha, as a highly anticipated token discovery platform launched by Binance, has been the focus of attention for cryptocurrency enthusiasts since its launch in December 2024. It integrates Pancakeswap on BNB Chain and other on-chain DEXs, providing a showcase stage for early-stage projects with growth potential. The platform also has an Alpha Points system. Users can obtain the opportunity to participate in exclusive Token generation activities (TGEs) and airdrops with points. After the Alpha points mechanism was launched on April 25th this year, the number of active traders in Binance Wallet soared by 58%, and the trading volume doubled to 118 million US dollars, which fully demonstrates its strong promoting effect on user engagement. On May 19th, the daily trading volume of Binance Wallet reached an astonishing 5 billion US dollars, accounting for 95.3% of the 12 major wallets tracked by Dune Analytics. At that time, Binance Alpha became the key factor driving the growth of trading volume.
Regarding the continuous decline in the trading volume of Binance Alpha this time, market analysts believe that there may be multiple reasons. On the one hand, the overall uncertainty of the cryptocurrency market, such as the weak trend of Bitcoin’s price after breaking through key points, has led some investors to wait and see temporarily, reducing their participation in early-stage project trading platforms like Binance Alpha. As the market developed, the popularity of early-stage projects waned somewhat, and new popular projects failed to emerge in a timely manner, resulting in a decline in the platform’s appeal to investors. Previously, some popular projects on Binance Alpha failed to meet expectations in terms of price performance after the initial hype, which also dampened the enthusiasm of some investors.
The decline in the trading volume of Binance Alpha may have a certain impact on the subsequent development of the platform. The decrease in trading volume may affect the promotion effect and fundraising scale of new projects on the platform. For those blockchain projects that expect to obtain early funds and market attention through Binance Alpha, the lower trading volume means fewer potential investors, and the support intensity in the early stage of project development may be greatly reduced. In the highly competitive cryptocurrency trading market, if Binance Alpha fails to take timely measures to stabilize or increase trading volume, it may lose market share to other emerging trading platforms. How Binance Alpha will deal with this situation in the future and whether it will introduce new incentive measures to attract users to return are awaited by all market parties. Jinse Finance will also continue to follow up and report.
Related Topics：
- U.S. investors’ buying has soared, and Bitcoin may embark on a healthy upward cycle
- Arthur Hayes: If the Bank of Japan delays balance sheet reduction and restarts some quantitative easing in June, risky assets may rise sharply
- The 40-fold shorted BTC giant whale cut its losses in the early hours of the morning, incurring a loss of 5.88 million US dollars
