Transaction volume on Binance Alpha 2.0, the launchpad for new cryptocurrencies within the Binance ecosystem, reached a new all-time high of $10.2 billion.
This figure represents more than double of the volume recorded at the end of August, when it stood at 3.97 billion dollars, which shows a significant acceleration in market activity for early stage tokens.
The growth placed Alpha 2.0’s daily spot volume above that of any other centralized exchange globally, with the sole exception of the main platform of Binance.
This milestone is achieved despite the fact that the platform only offers the trading of digital assets with little track record. If digital assets with exceptionally high market valuation, such as bitcoin (BTC) and some stablecoins, are excluded from the volume of other exchanges, Alpha 2.0’s advantage is even more pronounced, highlighting its focus on the innovation ecosystem.
Daily trades on the platform also nearly doubled, going from 17.4 million on August 31 to 30.6 million by October 22, with a peak of 61.3 million on October 2.
In parallel, average trade size decreased from a high of $424 in June to $247 today. This reduction in average transaction size suggests a growing dominance of retail trading activity.
Binance Alpha 2.0 facilitates early price formation and allows users to participate in the initial stages of digital asset distribution before they are added to the main exchange.
However, in a usual “purging” process to maintain platform standards, Binance announced the removal of 18 digital assets from Alpha, as reported by CriptoNoticias. Affected tokens include CA, HAT, Aimonica, House, LMT, degenai, ALON, RIF, LUCE, ASRR, YNE, MAXONSOL, GRIFT, URO, PAIN, vvaifu, HAPPY and MCH, and users have been urged to sell or withdraw these assets with low trading volume.