According to CoinMarketCap, the cryptocurrency unit currently has more than 2.4 million tokens, which makes investors often unsure of the legitimacy of their choice. In addressing this challenge, Binance has introduced a new feature called Alpha to its wallet service. Alpha will focus on symbols related to early Web3 projects, announcing Wednesday, December 18, to provide insights about those who may be considered for listing on the exchange.
Binance, the world’s largest cryptocurrency exchange for users and transaction volumes, has convened a team of market experts to evaluate emerging cryptocurrencies. The team will focus on tokens based on factors such as community interests, growing traction and consistency with key market trends.
“By publicly emphasizing well-planned early-stage projects, Binance Alpha promotes community trust, thus providing users with insight into tokens with a binary ecosystem,” Winson Liu, global head of Binsance Wallet, said in a statement. The potential for future growth.”
Binance noted in its press release that the Alpha feature is designed to refine its token listing process while enhancing the user experience.
The feature is now performed on the Binance Wallet app, where early crypto tokens are displayed in batches. Each batch will receive a 24-hour spotlight during which users can explore details about the items these tokens represent.
Alpha also introduced a sub-function called “Quick Buy” that enables users to buy alpha listed tokens immediately. After a 24-hour presentation, under the Markets tab of the Binance app, the highlighted tokens will remain accessible, allowing users to continue tracking the tokens of interest.
“Key improvements include automatic selection of local chain tokens based on wallet holdings and default transaction amounts, and automatic adjustments during resumption to improve transaction success rates,” Exchange noted.
