Binance, the leading cryptocurrency exchange, announced Binance Alpha, its latest initiative aimed at fostering the growth of emerging altcoin projects. On December 19, Binance Alpha announced its third batch of projects, according to an announcement on the Binance Web3 wallet page. This announcement led to significant increases in the value of some listed cryptocurrencies.
Binance Alpha added 10 more altcoins
The platform is designed to support early-stage tokens, giving them visibility and the opportunity for further development. The first wave of projects on Binance Alpha included KOMA, Cheems, APX, ai16z and AIXBT. Then came the second wave of projects – CKP, GEAR, SF, SYRUP, Fartcoin. While these altcoins were selected for the platform, the exchange made it clear that their inclusion does not guarantee that they will be listed on the exchange. Today, the exchange announced its new selections. Accordingly, the projects included in the list are as follows:
BSC: FROG, AICell, CGPT, MONKY
Ethereum Mainnet: TERMINUS
Solana: GRIFFAIN, RIF, URO
Base: CLANKER, LUNAI
Those altcoins skyrocketed
This third wave of projects on Binance Alpha had a particularly big impact on TERMINUS and FROG. TERMINUS surged by over 200% in a short period of time, temporarily increasing its market capitalization to US$25 million. Similarly, FROG also saw an increase of nearly 120%, temporarily boosting its market capitalization to US$20.8 million.
What is the purpose of the platform?
After a well-received first round, Binance Alpha, the pre-listing token selection pool, announced the second batch of projects and then the third batch of projects. This early-stage discovery feature could host significant developments due to its potential to give investors an inside look at upcoming assets that could eventually gain exchange listing on major exchanges. Specifically, users will discover tokens on Binance Alpha through carefully timed 24-hour windows. Some tokens will initially only be available for DEX trading. This will emphasize the importance of personal research. Binance Alpha is enhancing the user experience by introducing a Quick Buy button and automatic MEV protection to minimize unwanted price shifts or attack vectors.
You might be wondering what’s so special about this new product. Binance Alpha is no ordinary platform. It acts as a pre-listing token pool. So Alpha is not just a random product, it’s a pre-listing token pool. We all know that thousands of crypto tokens are being launched on a daily basis. We don’t know which ones have potential. The new exchange product claims to do that for you. According to its own description, the platform will carefully select some pretty solid tokens with potential based on certain criteria.
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