The Binance Alpha Point program has gradually changed the airdrop distribution in the crypto market. However, the point requirements for receiving airdrops continue to increase. It currently exceeds 200 points, making it difficult for many investors to succeed.
Nevertheless, the volume of token trading in the Binance Alpha program continues to grow. It has reached a new high, indicating that the trend has not yet shown signs of cooling.
Traders need 233 binance alpha points to receive airdrops
At the time of writing, Open Loot (OL) is the latest set of tokens for AirDrop Distribution. However, in Binance, traders must earn 233 Binance Alpha points. This is the highest level ever.
“Eligible Binance users with at least 233 Binance Alpha points can request aerop of 1,836 ol tokens,” Binance announced.
A report from HC Capital shows that Binance Alpha points have steadily increased from 150 points on May 9th to over 200 points in June.
As Beincrypto previously reported, users need to trade more frequently to earn enough points. This increases transaction fees and increases exposure to risk.
Even if the user reaches the required points, there is no guarantee of high profit. Token prices fluctuate. Often, it is not enough to justify the time and money spent by users.
Data shows that while point requirements continue to rise, profits (measured from an all-time high) continue to fall. As a result, many traders decided to quit.
“I received 223 points on Binance Alpha. 88Fly = $29. Ok. I’m off Binance Alpha now. Goodbye,” said investor Apollosync.
Furthermore, according to Chain Bowy, the Alpha Point threshold has already passed 200, and the program is not suitable for small accounts. He also shared a video criticizing Chinese users who reportedly used multiple accounts to farm Alpha Points. If true, this brings an unfair advantage to airdrop distribution.
Trading volume is still increasing
But not everyone is pessimistic. Dune Analytics’ on-chain data draws another picture. Binance Alpha Tokens’ trading volume continues to grow, reaching its all-time high, exceeding $17 billion.
Data also shows that around 460,000 traders are actively participating in the program, an increase of 100% compared to May. This suggests that some small investors will be leaving, but the Binance Alpha program is still attracting a large amount of capital from others.
This growth could be attributed to Binance’s incentive policy. For example, each transaction in a BNB chain counts twice as much alpha points. Additionally, Binance offers very low trading fees. This allows traders to repeat trades quickly without taking on high costs.
These conditions are particularly attractive to large investors who can maximize profits by leveraging this system.
However, for small traders, earning points in small transactions is too expensive. Over time, they are gradually kicked out of the game.
Disclaimer
In compliance with Trust Project guidelines, Beincrypto is committed to reporting without bias and transparent. This news article is intended to provide accurate and timely information. However, we recommend that readers independently verify the facts and consult with experts before making decisions based on this content. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
