While some of these new tokens serve governance and utility purposes, others, like Broccoli, are purely speculative, thriving on community-driven hype rather than real-world utility.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Binance Alpha, the newly launched platform built within the company’s Web3 wallet, has announced the addition of new projects under its umbrella, providing users with expanded investment opportunities and greater liquidity.
According to an announcement on Wednesday, the platform has onboarded newer entrants like BNBXBT, Broccoli (f2b), Broccoli (714), Broccoli (f3b), SIREN and PERRY. The Broccoli tokens were created last week after Binance founder Changpeng Zhao (CZ) unveiled his dog’s identity on February 13 following requests from the crypto community.
Despite being listed on Binance Alpha at the same time, the digital assets serves different purposes. For instance, SIREN, stands out as the native token of the Siren Protocol, a decentralized options trading platform. It serves governance and utility functions within the project’s ecosystem.
In contrast, the Broccoli tokens, fall into the category of meme coins with no inherent utility beyond their speculative nature and association with CZ’s pet. These tokens thrive purely on hype and community-driven momentum rather than having any functional role in blockchain innovation.
While these newly listed tokens are already available on other centralized exchanges, Binance announced during the launch of Binance Alpha in December that the addition of projects on the platform is not a guarantee of listing the tokens on its global trading exchange.
However, the company has suggested that select projects may be considered for future listings. Binance Alpha’s core mission is to provide users with access to early-stage tokens that could significantly influence the blockchain and Web3 ecosystem in the long run.
Since its launch, Binance Alpha has consistently expanded its portfolio, beginning with its first batch of tokens: KOMA, APX, ai16z AI16Z $0.16 24h volatility: 13.8% Market cap: $178.16 M Vol. 24h: $38.68 M , AIXBT AIXBT $0.11 24h volatility: 10.2% Market cap: $91.57 M Vol. 24h: $42.53 M , and Cheems. Over time, it has added many more tokens, with the latest batch joining on February 13.
According to Binance, the recently added tokens, including AERO AERO $0.48 24h volatility: 3.4% Market cap: $389.29 M Vol. 24h: $15.75 M , MORPHO, ONDO ONDO $0.79 24h volatility: 8.1% Market cap: $2.50 B Vol. 24h: $160.09 M , GPS, KMNO KMNO $0.0516 24h volatility: 5.0% Market cap: $69.73 M Vol. 24h: $8.37 M , and VIRTUAL VIRTUAL $0.61 24h volatility: 9.4% Market cap: $396.80 M Vol. 24h: $67.38 M , have been selected based on their potential to reshape the crypto industry.
Despite the fact that these tokens are not listed on Binance’s global exchange, the company has constantly expanded its offerings with the addition of new digital assets. On February 17, Coinspeaker reported that Binance added support for trading CAKE CAKE $1.95 24h volatility: 9.6% Market cap: $587.99 M Vol. 24h: $114.88 M , TRUMP TRUMP $10.00 24h volatility: 3.6% Market cap: $2.00 B Vol. 24h: $376.47 M and BNX tokens. The company had previously listed popular meme coins like Turbo and Baby Doge Coin.
Recently, the company was involved in a scandal about its listing processes. The issue started when Binance CZ posted a tutorial video showing users how to use a crypto wallet. In the video, the Binance founder used the Test Token (TST) to demonstrate the illustrations which quickly caught the attention of the crypto community.
The digital asset quickly skyrocketed in price as users rushed to accumulate the token with the hopes of cashing out. However, table turned when CZ clarified that he is not associated with the token in question, explaining that he simply used it for demonstration purposes.
Binance later listed the token for trading on its global platform adding to the confusion about its listing standards.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
