Among the 12 mainstream wallets tracked by Dune Analytics, they account for 95.3% of the market share.
On May 20, 2025, the world-leading blockchain ecosystem and cryptocurrency trading platform Binance announced that its one-stop Web3 wallet—Binance Wallet—surpassed $5 billion in daily trading volume, capturing 95.3% of the market share among the 12 mainstream wallets tracked by Dune Analytics, setting a new milestone.
Data source: Dune Analytics (data provided by lzweb3 )_
Growth Drivers: Early Access Opportunities Provided by Binance Alpha
The key driver behind this surge in trading volume comes from Binance Alpha—a project discovery platform integrated within the Binance Wallet and Binance trading platform. Through the Alpha platform, users can get early access to potential Web3 projects before they are widely launched and participate in exclusive TGEs and airdrop events, enjoying significant profit potential.
Pre-launch Project Discovery and Token Acquisition: Although there is no guarantee that projects will ultimately launch, since its launch in December 2024, Binance Alpha has recommended 18 tokens that subsequently launched on the Binance spot trading platform, accounting for 43% of the total new tokens launched during the same period, gradually demonstrating its value as a project discovery platform.
Exclusive TGEs for Binance Wallet: Many projects choose to exclusively hold TGEs on Binance Alpha due to the strong liquidity and user engagement provided by the platform. Since 2025, the Alpha platform has hosted 15 TGEs, allowing participating users to purchase tokens at a discount far below the market price, with an average purchase price of only 1/8 of the closing price on the first day of launch.
- Airdrop Rewards on the Alpha Platform: Binance Alpha also incentivizes active users through continuous airdrop rewards. Since May 2025, Alpha has distributed 8 rounds of token airdrops to users, with an average reward value of approximately $1,076 based on the closing price on the first day of launch.
- Innovations Focused on User Experience: Winson Liu, Global Head of Binance Wallet, stated: “The rise of Binance Wallet not only represents an increase in trading volume but also reflects a shift in how users interact in the Web3 era. With Binance Alpha now covering both the Binance Wallet and trading platform, we are redefining how users discover early projects and receive tangible rewards, setting a new standard for user participation in Web3.”
Alpha Points Mechanism: Promoting Fair Access and Incentives
As demand for TGEs on the Alpha platform continues to soar, Binance has introduced a new points mechanism—Binance Alpha Points—to ensure a fairer participation method and reward genuine user engagement. This system calculates points based on users' Alpha token purchase history, trading volume, and asset holdings within the Binance Wallet and trading platform.
Alpha Points are calculated on a rolling basis every 15 days and serve as a qualification threshold for participating in TGEs and airdrop events. Starting in May 2025, Binance upgraded this mechanism by introducing a points "consumption" mechanism, where users will consume Alpha Points when confirming participation in TGEs, transforming them from passive scores to active credentials.
Winson Liu stated: “As user demand for early access, exclusive TGEs, and airdrops continues to grow, Alpha Points ensure fairness and transparency in participation. By rewarding genuine participants, we provide a fairer pathway to high-demand projects while helping the Alpha platform expand and attract more quality Web3 projects.”
Once the Alpha Points mechanism was launched, it produced significant results. On the day of its launch on April 25, 2025, the number of active trading users on Binance Wallet surged from 44,967 to 71,228, an increase of over 58%. According to Dune data, this is the highest among all mainstream cryptocurrency wallets; the trading volume also jumped from $48.46 million to $118 million, more than doubling, showcasing users' strong enthusiasm for participation and laying a solid foundation for the subsequent expansion of the Alpha ecosystem.
Binance will continue to expand the Alpha ecosystem, collaborating with top Web3 projects, optimizing incentive mechanisms, enhancing user participation, and increasing rewards for participants. In the future, Binance Alpha events, Binance feature upgrades, and community-driven initiatives will continue to provide users with richer access, more substantial rewards, and more practical features.
As of now, approximately 10% of the projects recommended by the Alpha platform have launched on Binance exchange.
To view the complete rules, please visit the Binance Alpha Points FAQ.
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