Binance Alpha has already announced 29 tokens in its curation program for Web3 wallet users. The biggest earners in that selection were AI agent tokens.
After a faulty start where a fake list was announced, some of the tokens jump-started their trading based on renewed hype. Since the token launch, 17 assets went higher and 12 sank lower with the rest of the market.
The biggest gains were available to obscure tokens that gained exposure through the daily spotlight. Binance Alpha tokens are already a class of their own, with a total valuation of $3.22B.
Binance Alpha launched at a time when the crypto market had already slid from its all-time highs. Most of the meme tokens and altcoins were also going through drawdowns. At that time, Binance introduced the Quick Buy button, boosting the exposure of up to five new tokens each day.
Binance Alpha tests multiple token tracks
Binance Alpha stated it has rigorous criteria for its token selection. However, the tool has spread to several token categories, checking which ones would perform. The tokens were divided among AI agents, animal memes, older DeFi tokens, DeSci, DAO, and AI infrastructure. The selection tracks some of the hottest narratives in 2024.
The Binance Alpha tokens were taken from Ethereum, Solana, and Base, where most Ethereum tokens were DeFi assets, while the AI agents were deployed on Solana or Base. The selection included seven Solana tokens, 10 tokens on Binance Smart Chain, three on Base, and nine on Ethereum.
The selection of Binance Alpha included a large range of valuations, starting from $10M market capitalization and up to $1B for more established tokens. The strongest gains came from early-stage tokens with relatively small valuations.
Binance Alpha also finally picked Wise Monkey (MONKY), which was also part of the initial fake token list. Unfortunately, MONKY slid since the promotion, erasing more than 12% of its value to trade at $0.000015.
The token tool also selected Rifampici (RIF) and Urolithin (URO), which have attempted to become prominent DeSci tokens. Binance has expressed interest in DeSci, but its focus is not enough to make the tokens rally. RIF and URO ended up with smaller losses compared to other tokens.
AI agents are among the most common Binance Alpha selections
AI agents on Binance Alpha included ChainGPT, AI Cell, FARTCOIN, AI16Z, Griffain, AIXBT by Virtuals and Luna by Virtuals, ZEREBRO, and Cookie DAO (COOKIE) in the last batch of tokens. Most of the AI tokens have gone beyond their early stage, and have other factors driving their price.
After being added to Binance Alpha, FARTCOIN actually lost ground, sinking to a low of $0.55. The selection by Binance coincides with a slight recovery of the entire AI agent market, to a total market capitalization above $8.11B.
Some of the smaller or forgotten AI agent tokens lined up among the biggest gainers. Those included Shoggoth, FROG, BOB, TERMINUS, and Numogram (GNON). The biggest losses came to APX (-28.12%) and GRIFFAIN (-25.41%).
DeFi offers among the top gainers
DeFi tokens were among the steadiest gainers based on the Binance Alpha selection. ODOS was the leader, a widely used DEX on the Base chain, with a gain of over 65%. MGP and GEAR gained around 30% on average, due to their lover valuation of $100M and $140M, respectively.
Binance’s selection included DeFi tokens valued at different price ranges, starting at under $50M FDV, several selections under $200M, and two top tokens valued in the $300M-$500M range.
Binance Alpha focuses on those relatively new tokens at a time when altcoin hype is already diminished. The Altcoin season index fell back to 53 points, with BTC outperforming most established tokens.
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