With 71% of Binance Alpha tokens debuting on BNB Chain, the network recorded over 1 million new addresses daily and saw more than double weekly volumes.
New-issue tokens have always been a reliable barometer for where builders — and their capital — feel most welcome. In the closing months of 2024, that indicator has swung toward BNB Chain, thanks to a fast-growing cohort that Binance Wallet labels “Alpha” projects: early-stage assets still hunting for a formal exchange listing but already live onchain for anyone to trade.
Launched in December 2024, the Alpha showcase was designed as a pre-listing window into promising narratives such as restaking, artificial intelligence, DeFi infrastructure and memes. In the first wave, 71% of the admitted tokens chose BNB Chain as their home network.
Sixty percent of those launches used the built-in Binance Wallet initial DEX offering (IDO) module, while the rest split between Binance Launchpad and Launchpool.
Alpha launch momentum translates to onchain demand
This supply has turned into concentrated demand. Recent data shows that BNB Chain cleared roughly 40% of all Alpha-token trading volume, and nine of the top 20 tokens by seven-day volume were BNB-native: BSquared Network (B2), OKZOO (AIOT), Polyhedra Network (ZKJ), MYX Finance (MYX), Haedal Protocol (HAEDAL), Donkey (DONKEY), Boop (BOOP), Milk (MILK) and SkyAI (SKYAI).
Traders are following the action with gusto as the BNB Chain gains more than a million new addresses daily linked to Alpha-related onchain activity. In addition, seven of the 10 largest Alpha tokens recorded a new user ratio north of 20%. That activity also shows up on the ledger. Weekly transactions are up 60%, while weekly trading volume has climbed 114.6%.
TVL and infrastructure deepen BNB Chain’s foundation
Volume is only one-half of the liquidity equation. The arrival of infrastructure players such as restaking project HAEDAL and interoperability network ZKJ has begun to tilt total value locked (TVL) statistics as well.
Funds that have started life on Solana or Base are crossing bridges to BNB Chain, and several projects now keep more than 50% of their circulating liquidity there. This TVL, in turn, encourages the next wave of builders to deploy first on the same rails, reinforcing the cycle.
Native demand for BNB (BNB) is also rising. Roughly 14% of Alpha launches — MILK and SKYAI among them — require users to either stake BNB or seed BNB-denominated liquidity in Launchpool to earn early allocations. Each pool is modest in isolation, but together they create consistent demand for the BNB token that does not depend on price speculation.
Crosschain migration offers another window into the trend. For example, Solana-born meme project Ghiblification (GHIBLI) and Sui-based liquid staking protocol Haedal have both bridged significant liquidity to BNB Chain, citing cheaper gas and a broader Ethereum Virtual Machine (EVM) user base.
Join the BNB Smart Chain Trading Competition on Binance Alpha and trade B2, AIOT, MYX, and ZKJ for a chance to win exclusive token rewards!
Don’t miss out – secure your spot among the top traders 👇
— Binance (@binance) May 7, 2025
In addition, Binance Wallet is now putting formal incentives behind the flywheel. A two-week BNB Smart Chain (BSC) Trading Competition will distribute over $3.5 million worth of B2, AIOT, MYX and ZKJ to the most active accounts.
In parallel, Binance’s Alpha Points Promotion double-counts every qualifying BNB Chain trade, boosting wallet IDO eligibility and Alpha airdrop chance with participation. Because transaction fees on BNB Chain often sit below one cent, ambitious traders can recycle positions quickly to climb the volume tables without surrendering most of their spread to gas.
Zoom out from the short-term fluctuations, and a pattern emerges: early-stage tokens ignite wallet creation, wallet creation drives higher volumes, higher volumes attract infrastructure projects and infrastructure projects lock in capital that would otherwise drift to the next hot project.
Recent data — including 45 Alpha launches, more than a million new addresses daily and triple-digit volume growth — shows the same cycle might be unfolding on BNB Chain. If the Alpha pipeline maintains its current cadence, BNB Chain has the potential to graduate from being a popular choice for new tokens to becoming their default starting point.
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