Binance Alpha 2.0, one of the hottest Binance ecosystem products right now, is experiencing a huge inflow of liquidity and new traders. In the last three days, it processed almost half a billion in liquidity in over two million on-chain transactions. Which tokens are most popular right now?
Binance Alpha 2.0 reaches $500 million volume in three days
Binance Alpha 2.0, a unique Binance instrument designed to let users trade tokens on-chain with funds they deposit in a CEX, is seeing its popularity go through the roof. As unveiled by Panda Jackson, pseudonymous data analyst and crypto researcher, the April 29 session registered an ATH in trading volume.
In a record-breaking session, Binance Alpha 2.0 hit $205.9 million in volume and 840,000 transactions. In total, over the April 29-May 1 sessions, the platform has already processed over $500 million in volume and two million transfers.
During the hottest market peaks, the platform processed $25 million per hour in trading volume.
This represents staggering growth: a month ago, both transfer count and volume metrics were 60x lower. In early April, amid overwhelming pessimism on the crypto markets, daily trading volume on Binance Alpha 2.0 dipped below $500,000.
KMNO is a core native governance and utility cryptocurrency of Kamino Finance, Solana’s DeFi protocol with lending and staking features. In the last 24 hours, one of three transactions on Binance Alpha 2.0 was associated with KMNO cryptocurrency.
Meme cryptos POPCAT, MEW in focus
At the same time, meme cryptocurrencies are obviously responsible for Binance Alpha 2.0 hype. Popcat (POPCAT) and Cat in Dogs World (MEW), the two largest cat coins by market cap, are in the top 5.
Also, despite general disappointment in AI-related tokens, AI16Z and AIOT are still performing well on Binance Alpha 2.0 in terms of metrics observed. HOUSE, a meme coin supported by Ansem, the biggest Solana KOL, is popular on Binance Alpha 2.0 as well.
For all of these tokens, the inflow of liquidity from Binance’s CeDeFi spin-off resulted in solid price gains. In just three days, the HOUSE price jumped by over 100% and the KMNO price added 17%, while POPCAT is up by 9%.
