Binance Alpha has introduced 29 tokens in the selection program for Web3 wallet users, with the AI agent token recording the most impressive returns.
After an unsuccessful start when the fake list was announced, some tokens have started to trade actively thanks to a new hype wave. Since its launch, 17 assets have increased in price, while the remaining 12 assets have decreased in price compared to the overall market trend.
The strongest price increases have come from lesser-known tokens that have attracted attention through daily footprints. According to data from CoinMarketCap, the Binance Alpha tokens are currently grouped separately with a total market capitalization of $3.32 billion.
Binance Alpha was launched at a time when the crypto market was retreating from its ATH. Most meme tokens and altcoins are also undergoing a price decline. At that time, Binance introduced the Quick Buy button, which increased the accessibility to up to 5 new tokens per day.
Binance Alpha applies very strict token selection criteria. This tool has expanded the selection scope to various types of tokens to determine which ones will perform most effectively. Tokens are classified into groups such as AI agents, animal memes, legacy DeFi tokens, DeSci, DAOs, and AI infrastructure. The selection process focuses on the most compelling stories in 2024.
Binance Alpha tokens are primarily sourced from the Ethereum, Solana, and Base platforms. Most of the Ethereum tokens are in the DeFi group, while the AI agent tokens are mainly deployed on Solana or Base. The list includes 7 tokens from Solana, 10 tokens on the BNB Chain, 3 tokens on Base, and 9 tokens on Ethereum.
Binance Alpha's selections have a wide range of valuations, starting from a market capitalization of $10 million and reaching up to $1 billion for more established tokens. The most significant increases have come from early-stage tokens with modest valuations.
Finally, Binance Alpha selected Wise Monkey (MONKY), despite this token being on the initial fake list. However, MONKY has declined in price since being promoted, losing over 12% of its value and currently trading at $0.000015.
The tool also selected Rifampici (RIF) and Urolithin (URO), prominent names in the DeSci field. While Binance has expressed interest in DeSci, their focus was not enough to drive these tokens' prices higher. RIF and URO ended with smaller losses compared to other tokens.
The AI agents on Binance Alpha include ChainGPT, AI Cell, FARTCOIN, AI16Z, Griffain, AIXBT of Virtuals and Luna of Virtuals, ZEREBRO, and Cookie DAO (COOKIE) in the most recent token announcement. Most of the AI tokens have passed the initial stage and have other factors driving their prices.
After being added to Binance Alpha, the price of FARTCOIN has actually performed poorly, dropping to a low of $0.55. Binance's selection coincided with a slight recovery in the overall AI agent market, pushing the total market capitalization above $8.11 billion.
Surprisingly, some smaller or overlooked AI agent tokens were among the biggest gainers, including Shoggoth, FROG, BOB, TERMINUS, and Numogram (GNON). Meanwhile, the biggest losers were APX (-28.12%) and GRIFFAIN (-25.41%).
The DeFi tokens were among the most consistently rising coins based on Binance Alpha's selections. ODOS, a widely used DEX on the Base chain, was the leading coin with a gain of over 65%. MGP and GEAR increased by an average of around 30%, with valuations of $100 million and $140 million, respectively.
Binance's selections included DeFi tokens with a range of valuations, starting from market capitalizations below $50 million, some choices below $200 million, and two top tokens in the $300 million - $500 million range.
Binance Alpha focused on these relatively new tokens at a time when the altcoin frenzy was cooling down. The altcoin season index has dropped to 53 points, with BTC outperforming most prominent tokens.
You can view coin prices here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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Dinh Dinh
According to Cryptopolitan
