Recently, Binance Alpha, a feature introducing early cryptocurrency projects within the Binance Wallet, has introduced a rating mechanism called Binance Alpha Points. This system evaluates user activities within the Binance Alpha ecosystem.
This new evaluation feature has attracted high interest from Airdrop hunters and significantly increased Binance Alpha's trading volume. However, Binance Alpha Points have elicited mixed reactions.
Binance Alpha Surpasses Daily Trading Volume of $330 Million
According to Dune's data, after Binance announced Alpha Points on April 25, Binance Alpha's trading volume surged.
By May 7, Binance Alpha's trading volume exceeded $330 million. On May 5 and 7, the platform recorded over 1 million transactions per day. The total cumulative trading volume has now surpassed $2.8 billion, with transaction count reaching approximately 117 million.
This performance reflects the strong appeal of the Alpha Points feature. More users are actively trading to accumulate points and increase their opportunities to receive Airdrops.
Simultaneously, Binance is announcing new project listings on Binance Alpha more frequently.
How Are Investors Reacting to the Binance Alpha Points Initiative?
Wonnie, founder of MBMweb3, is an ardent supporter of the Binance Alpha program. In a post on X, Wonnie described the program as a "golden opportunity" for users to participate.
He shared a strategy of earning 15 points per day. By holding assets over $100,000 to earn 4 points and trading over $2,048 daily to earn 11 points.
Wonnie emphasized the program's strong earning potential, noting the daily cost of maintaining this activity is about $1 in gas fees.
"Binance Alpha is still a golden opportunity. Track your points and minimize costs. Claim your share while the rewards are flowing," Wonnie said.
However, not all investors share Wonnie's optimism. Many have criticized Binance Alpha as an "extraction plan".
One key controversy is that Alpha Points only calculate activity from the last 15 days. Users cannot accumulate points long-term and must continuously trade to maintain their score, creating significant financial pressure.
Binance Alpha – A Scheme to Rekt You Without You Even Noticing.
— Abhi.eth (@EarnByAbhi) April 29, 2025
Before we begin: right now, Binance appears completely greedy. Whenever they offer you something, trust me – they're taking much more from you indirectly.
A lot of people are panicking and FOMOing into Binance… pic.twitter.com/MX3L3PLQPn
Moreover, reward requirements have become increasingly stringent. Initially, only 45 points were needed to receive the AIOT Airdrop, but now Binance requires 150 points for the SXT Airdrop.
According to Binance's calculation method, users must trade up to $131,072 to earn 17 points.
This results in users paying trading fees but still not earning enough points to receive the Airdrop. Some users reach the necessary point threshold but fail the risk assessment and do not receive the Airdrop.
"Binance Alpha – A scheme to rekt you without you even noticing... Binance appears completely greedy. When they offer you something, trust me – they're taking much more from you indirectly," investor Abhi criticized.
Despite these concerns, the number of projects introduced on Binance Alpha continues to increase. According to CoinMarketCap, over 140 projects have been listed on Binance Alpha.
Among them, nine projects have conducted Airdrops through the Alpha Points system.
