Small-Cap Tokens Lead the Pack in Binance Alpha’s Debut
Days after Binance introduced its pre-listing token selection pool, Binance Alpha, it launched 29 tokens with mixed performances.
Data shared by crypto analysts Sankin shows that out of the listed cryptocurrencies, 17 have seen their values increase while 12 experienced declines.
Small-Cap Tokens Lead the Pack
In a December 23 post on X, Sankin noted a trend where smaller market-cap assets generally performed better than their larger counterparts.
Those with fully diluted valuations (FDVs) below $20 million dominated the leaderboard, with assets like Shoggoth (SHOGGOTH), Frodo the Virtual Samurai (FROG), Bob (BOB), Terminus (TERMINUS), and Numogram (GNON) all achieving gains of more than 100%.
Shoggoth, a Solana-based meme coin that is part of the AI agent sector, took the top spot, skyrocketing 134.66% since its launch on the platform on December 20. Two other meme coins, FROG and BOB, followed with gains of 123.19% and 122.08%, respectively, although FROG has enjoyed an extra day of listing, having been launched on December 19.
Other notable performers included Solana AI agent GNON, whose value went up 104.93%, and Ethereum-based meme coin Terminus, which jumped 104.15%.
Larger Capped Coins Lag Behind
Among larger capped coins, the decentralized finance (DeFi) project Odos (ODOS), with a listing FDV of $193 million, recorded the best performance, gaining 65.88% over the weekend. It was followed at 54.77% by another Solana meme coin, Luce (LUCE), and AICell (AICELL), an AI token on the Binance Smart Chain (BSC), whose worth increased by 32.10%.
On the flip side, Apx (APX) and Griffain (GRIFFAIN), respectively boasting FDVs of $708.73 million and $242.64 million, suffered the steepest declines. The former blew 28.12% of its value, while the latter followed closely with a 25.41% drop.
A couple of popular Solana tokens, ai16z (AI16Z) and Fartcoin (FARTCOIN), also performed poorly, losing 18.53% and 16.38% in that order.
Diverse Performances Across Chains and Sectors
The 29 tokens were distributed across four public blockchains: BSC, Solana, Ethereum, and Base. Per Sankin’s findings, BSC dominated the listings, accounting for more than 41% of all the assets, while Solana followed with 27.6%. Ethereum and Base split the remaining 31% of listings between them, with the former claiming 17.2% of the projects and Base accounting for 13.8%.
The performance also varied significantly by sector. Most of those labeled as AI agents emerged as the top category, representing 31% of the listings, with DeFi and meme tokens tied for second at 27.6% apiece. The remaining 13.8% consisted of smaller categories like decentralized science (DeSci) and decentralized autonomous organizations (DAOs), represented by tokens like Rifampicin ($RIF) and Koge (KOGE).
Conclusion
In conclusion, the debut of Binance Alpha has seen a mixed bag of performances among its 29 listed tokens, with small-cap tokens leading the pack. The data suggests that smaller market-cap assets generally performed better than their larger counterparts, with AI agents, DeFi, and meme tokens being the top-performing categories. As the market continues to evolve, it will be essential to monitor the performances of these tokens to identify potential investment opportunities and mitigate risks.
FAQs
Q: What is Binance Alpha?
A: Binance Alpha is a pre-listing token selection pool introduced by Binance.
Q: How many tokens were listed on Binance Alpha?
A: 29 tokens were listed on Binance Alpha.
Q: What were the top-performing tokens on Binance Alpha?
A: The top-performing tokens were Shoggoth, FROG, BOB, Terminus, and Numogram, with gains of over 100%.
Q: What was the performance of larger capped coins on Binance Alpha?
A: Larger capped coins, such as Odos, Luce, and AICell, recorded gains ranging from 32.10% to 65.88%.
Q: Which sectors performed well on Binance Alpha?
A: AI agents, DeFi, and meme tokens were the top-performing sectors, with 31%, 27.6%, and 27.6% of the listings, respectively.
