Binance Wallet Gets New ‘Alpha’ Feature that Spotlights Early-Stage Crypto Tokens: Details

The feature is intended to improve Binance’s own token listing process.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 18 December 2024 18:55 IST

Binance Wallet Gets New ‘Alpha’ Feature that Spotlights Early-Stage Crypto Tokens: Details

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The Alpha feature will let users view project details related to the tokens

Highlights

Tokens featured in Alpha may be considered for listing on Binance
Binance has appointed market experts to screen potential tokens
The team of experts will assess early-stage tokens for listing

The crypto sector currently hosts over 2.4 million tokens, according to CoinMarketCap, leaving investors often uncertain about the legitimacy of their choices. Addressing this challenge, Binance has introduced a new feature named Alpha to its wallet service. Announced on Wednesday, December 18, Alpha will spotlight tokens associated with early-stage Web3 projects, offering insights into those that may be considered for future listing on the exchange.

Binance, the world's largest crypto exchange by users and trading volume, has assembled a team of market experts to evaluate emerging cryptocurrencies. The team will spotlight tokens based on factors such as community interest, growing traction, and alignment with key market trends.

“By publicly highlighting a curated selection of early-stage projects, Binance Alpha fosters community trust, offering users insights into tokens with potential for future growth within the Binance ecosystem,” Winson Liu, the Global Lead of Binance Wallet said in a statement.

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Binance stated in its press release that the Alpha feature aims to refine its token listing process while enhancing user experience.

The feature is now live on the Binance Wallet app, where early-stage crypto tokens are showcased in batches. Each batch will receive a 24-hour spotlight, during which users can explore detailed information about the projects these tokens represent.

Alpha also introduces a sub-feature called Quick Buy, enabling users to purchase Alpha-listed tokens instantly. After the 24-hour showcase, the highlighted tokens will remain accessible under the "Markets" tab on the Binance app, allowing users to continue tracking tokens of interest.

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“Key improvements include automatic selection of the native chain's token and default trading amount based on wallet holdings and automatic slippage adjustment during retries to improve transaction success rates,” the exchange noted.

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Further reading: Cryptocurrency, Binance, Binance Wallet, Alpha, Crypto Tokens

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More