MEME coins are experiencing frenzied speculation, continuous cloning, and increasingly shorter token lifespans. This is not happening in 2025, but in 2020. However, the root cause of the chaos at the time was that the crypto world had opened the door to decentralization through DeFi. To address this phenomenon, Binance proposed the CeDeFi concept and launched the predecessor of the BNB Chain, Binance Smart Chain (BSC).
Currently, the crypto market is more brutal compared to 5 years ago, gradually becoming a PvP game. In this zero-sum game, players are not thinking about creating value, but about how to profit from other players.
To this end, Binance has launched Binance Alpha, a platform focused on discovering early crypto projects with growth potential in the Web3 ecosystem. Some projects will have the opportunity to be listed on Binance. Compared to users directly participating in the brutal PvP market, Binance takes the lead in using professional knowledge and advanced data analysis to screen out projects with strong community support, growing market appeal, and alignment with key trends in the crypto ecosystem.
As the market and user needs continue to evolve, Binance Alpha has been upgraded to "Binance Alpha 2.0", driving crypto towards CeDeFi. Less than 24 hours after the announcement of Binance Alpha 2.0, data from Dune.com analyst @lz_web3 showed that on March 18, the daily on-chain transaction volume of Binance wallets reached $90.556 million, accounting for 54.1% of the total transaction volume in the crypto wallet track, ranking first in the market. The number of active trading users also ranked first with 28,103 users, accounting for 29.5% of the total active traders in the track.
As CZ said in 2020, Binance needs to become the underlying infrastructure of the industry, just like a road that you walk on every day but you don't need to know who built it.
Originating from BSC
In the early stage of industry development, many users were deterred by the high gas fees and low efficiency on the chain. At the same time, problems such as fragmented liquidity and market bubbles also indirectly led to retail investors being forced to take on bags in the secondary market.
Against this backdrop, BSC was born. BSC has achieved programmable scalability, is compatible with the ETH ecosystem, and natively supports cross-chain communication and transactions. Developers can easily deploy applications from ETH to BSC without rewriting the entire source code.
Subsequently, Binance implemented the "Token Channel" program, organically combining the advantages of the centralized trading platform and BSC. Through Binance's secure custodial service, various on-chain tokens can be bridged to BSC.
The emergence of BSC has provided a high-efficiency, secure, and cost-friendly platform for the DeFi ecosystem, and has also laid a solid foundation for Binance's subsequent CeDeFi layout.
Binance Alpha, Reconstructing Value Discovery
After the launch of BSC, the market style also switched accordingly. Some players, in pursuit of higher returns, began to engage in on-chain "dog-fighting". KOLs and conspiracy groups have entered the market, intentionally or unintentionally influencing market conditions.
Against the backdrop of the failure of the on-chain value discovery mechanism, Binance launched the strategic innovation of Binance Alpha. Binance Alpha integrates project incubation, value discovery, and ecosystem empowerment, quietly rewriting the current asset screening rules and opening up a new survival and development channel for early-stage projects.
The underlying logic of Binance Alpha reflects the intention to break the paradox of early project survival. Quality early-stage projects are often caught in the dual dilemma of information overload and the stringent listing standards of centralized platforms. According to incomplete statistics, pump.fun has issued more than 8 million tokens, but less than 0.1% of them can be listed on top exchanges.
Binance Alpha has built a "observation pool" mechanism, creating a buffer zone between project parties and exchanges, retaining the openness of the decentralized market while introducing the evaluation dimensions of professional institutions. This model not only provides projects with preliminary exposure opportunities, but also lays a solid foundation for subsequent value conversion.
At the same time, Binance Alpha has also reconstructed value discovery. Traditionally, the exchange listing process is lagging, and by the time a project is approved, its token price has often already been discovered in the market. The Alpha platform, however, has introduced a dynamic monitoring system, continuously tracking indicators such as code updates, community activity, and cross-chain protocol integration, transforming from result verification to process verification. In addition, the platform's built-in MEV protection mechanism further eliminates the interference of dark pool trading, ensuring the objectivity of the evaluation from a technical level and providing more scientific support for digital asset pricing.
Project parties can also choose to conduct exclusive TGEs through the Binance wallet, and their tokens will be automatically included in Binance Alpha after participating in this activity. This not only means that the project can gain exposure on the platform, but also allows it to leverage Binance Alpha to showcase its growth potential and attract more investors and users. At the same time, the on-chain liquidity support provided by the Binance wallet creates a good market environment for the project to initiate on-chain transactions, greatly reducing the security risks and operational frictions that exist in traditional cross-platform operations.
For users, this TGE model brings more opportunities to reach a real and identity-verified user base. Binance wallet's large active user base not only provides projects with stable market feedback and initial liquidity, but also ensures that every user can participate in the early growth of the project in a fair and transparent token distribution mechanism.
Binance Alpha 2.0, CeDeFi Trading Operating System
Binance is not satisfied with Binance Alpha and has chosen to launch Alpha 2.0, aiming to break down the barriers between traditional CEX and DEX through technological and product innovation, in order to realize the CeDeFi vision.
According to incomplete statistics, the asset migration between CEX and DEX incurs high losses, with the loss of liquidity value exceeding billions of dollars per year. Traditionally, users in cross-chain bridge operations not only face security risks, but also need to manually adjust their positions between multiple platforms. Alpha 2.0, through native account integration technology, has reduced the cross-chain friction cost to zero, directly injecting the hundreds of billions of dollars of liquidity accumulated in CEX into the DEX market, fundamentally solving the problem of liquidity fragmentation.
The frequent transfers of assets between spot, contract, and on-chain wallets in traditional CEX accounts have kept asset utilization in a low-efficiency state. Binance Alpha 2.0 allows users to directly use their spot account balances to participate in on-chain transactions, increasing the utilization rate of a single account by several times.
Binance Alpha 2.0 has achieved a new level of upgrade in trading infrastructure. Its core breakthrough lies in the construction of "CEX account + on-chain identity", where users do not need to worry about seed phrases and can directly trigger smart contracts through their Binance accounts. Moreover, Binance Alpha 2.0 also exhibits forward-looking design at the regulatory level, by combining the CEX's KYC/AML system with on-chain trading behavior, constructing regulatory transparency.
From Binance Alpha 2.0, we can foresee that Binance is trying to build a complete CeDeFi trading operating system, allowing users to manage CEX positions, participate in DeFi governance, and even mint NFT assets on the same interface, completely dissolving the boundaries between traditional finance and the crypto economy. Binance Alpha 2.0 not only resolves the industry's liquidity and capital efficiency problems through technological innovation, but also drives a fundamental transformation of the crypto asset trading model through a series of upgrades to the underlying architecture and market mechanisms.
When billions of users can participate without understanding blockchain principles, the singularity moment of the crypto world may be quietly approaching. As the network effects generated by this integration continue to strengthen, it may give rise to a super liquidity pool with daily trading volume exceeding trillions of dollars, realizing the mainstream adoption and true maturity of the crypto market.
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