The meme coin frenzy, rampant rug pulls, and the ever-shortening lifespan of tokens. This isn't happening in 2025, but it was the reality in 2020. However, the root cause of these chaotic events back then was the crypto world opening the decentralized door through DeFi. To address this issue, Binance introduced the concept of CeDeFi and launched BNB Chain, the precursor to Binance Smart Chain (BSC).

Currently, the crypto market is harsher compared to five years ago, gradually turning into a PvP game. In this zero-sum game, players are not thinking about creating value but rather how to profit from other players.

In response, Binance has launched Binance Alpha, a platform focused on discovering early-stage crypto projects with growth potential in the Web3 ecosystem. Some projects will have the opportunity to be listed on Binance. Instead of users directly engaging in the brutal PvP market, Binance takes the lead by leveraging expertise and advanced data analysis to select projects with strong community support, market attractiveness growth, and alignment with key crypto trends.

As the market and user demand continue to evolve, Binance Alpha has been upgraded to "Binance Alpha 2.0," driving crypto towards CeDeFi. Less than 24 hours after the announcement of Binance Alpha 2.0, Dune.com analyst @lz_web3 data showed that on March 18th, Binance's on-chain daily transaction volume reached $90.556 million, accounting for 54.1% of the total daily crypto wallet track volume, leading the market. The daily trading volume increased over 24 times compared to early March. The number of active trading users also topped the list with 28,103 users, representing 29.5% of the total active traders in the track.

As CZ mentioned in 2020, what Binance needs to become is the industry's underlying infrastructure, like a road you walk on every day without needing to know who built it.

Originating from BSC

In the early stages of industry development, many users were deterred by the high on-chain gas fees and inefficiency. Simultaneously, issues like decentralized liquidity and market bubbles indirectly forced retail investors to bag-hold in the secondary market.

Against this backdrop, BSC was born. BSC achieved programmable scalability, interoperability with the ETH ecosystem, native support for cross-chain communication and transactions. Developers can easily migrate apps from ETH to BSC without rewriting the entire source code.

Subsequently, Binance implemented the "Token Canal" plan, organically combining the strengths of a centralized exchange and BSC. Through Binance's secure custody service, various on-chain tokens can be bridged to BSC.

The emergence of BSC provided the DeFi ecosystem with an efficient, secure, and cost-effective platform, laying a solid foundation for Binance's subsequent CeDeFi layout.

Binance Alpha, Reframing Value Discovery

After the launch of BSC, the market style also switched accordingly. Some participants, in pursuit of higher yields, began on-chain activities. Key Opinion Leaders (KOLs), conspiracy groups, and others entered the scene, intentionally or unintentionally influencing market trends.

Against the backdrop of a failed on-chain value discovery mechanism, Binance introduced Binance Alpha as a strategic innovation. Binance Alpha integrates project incubation, value discovery, and ecosystem empowerment, quietly rewriting the current asset screening rules and opening up a new path for the survival and development of early-stage projects.

The underlying logic of Binance Alpha embodies the ambition to break the early-project survival paradox. High-quality early-stage projects often find themselves trapped in a double dilemma of information overload and the stringent listing standards of centralized platforms. According to incomplete statistics, pump.fun has issued over 8 million tokens, while less than 0.1% have the opportunity to list on top exchanges.

Through the construction of an "Observation Pool" mechanism, Binance Alpha has bridged the gap between project teams and exchanges, preserving the openness of the decentralized market while introducing the evaluation dimension of professional institutions. This model not only provides projects with initial exposure opportunities but also lays a solid foundation for subsequent value realization.

Additionally, Binance Alpha has reframed value discovery. Traditionally, the listing process on exchanges lags behind, and by the time a project is approved, its token price has often already been discovered in the market. The Alpha platform introduces a dynamic monitoring system, which tracks continuous growth indicators such as code updates, community activity, cross-chain protocol integration, etc., achieving a shift from result validation to process validation. Furthermore, the platform's built-in MEV protection mechanism further eliminates the interference of dark pool trades, ensuring objectivity in evaluations at a technical level and providing more scientific support for digital asset pricing.

Project teams can also choose the Binance Wallet for exclusive TGE (Token Generation Event), where tokens automatically become part of Binance Alpha after participating in this event. This not only means that the project gains exposure on the platform but also showcases its growth potential through Binance Alpha, attracting more attention from investors and users. At the same time, the on-chain liquidity support provided by the Binance Wallet creates a favorable market environment for launching on-chain transactions, enabling seamless and smooth token integration upon launch, significantly reducing the security risks and operational friction present in traditional cross-platform operations.

For users, this TGE model brings more opportunities to reach a real and identity-verified user base. Binance Wallet's large active user base not only provides stable market feedback and initial liquidity for the project but also ensures that every user can participate in the project's early growth in a fair environment through a fair and transparent token distribution mechanism.

Binance Alpha 2.0, CeDeFi Transaction Operating System

Binance is not satisfied with Binance Alpha and has chosen to launch Alpha 2.0, aiming to break the barriers between traditional CEX and DEX through technological and product innovation to achieve the CeDeFi vision.

According to incomplete statistics, there is a high loss of assets during asset migration between CEX and DEX, resulting in a liquidity value loss of over billions of dollars annually. Traditionally, users not only face security risks during cross-chain bridge operations but also need to manually rebalance between multiple platforms. Alpha 2.0 reduces cross-chain friction costs to zero through native account integration technology, directly injecting the hundreds of billions of dollars' worth of liquidity held in CEX into the DEX market, fundamentally solving the liquidity fragmentation issue.

The frequent transfer of funds between traditional CEX accounts in spot, futures, and on-chain wallets keeps asset utilization efficiency low in the long term. Binance Alpha 2.0 allows users to directly use spot account balances for on-chain transactions, increasing the fund utilization efficiency of a single account several times over.

Binance Alpha 2.0 has achieved a new upgrade of the transaction infrastructure. Its core breakthrough lies in building a "CEX account + on-chain identity" where users can trigger smart contracts directly through their Binance account without worrying about mnemonic phrases. Additionally, Binance Alpha 2.0 demonstrates forward-looking design in terms of regulation by integrating CEX's KYC/AML systems with on-chain transaction behavior, establishing regulatory transparency.

From Binance Alpha 2.0, it is foreseeable that Binance is attempting to build a complete CeDeFi transaction operating system, allowing users to manage CEX positions, participate in DeFi governance, and even mint NFT assets within the same interface, thereby completely eliminating the boundaries between traditional finance and the crypto economy. Binance Alpha 2.0 not only solves the liquidity and fund efficiency challenges in the industry through technological innovation but also drives a fundamental transformation of the cryptocurrency trading model through a series of underlying architecture upgrades and market mechanism restructurings.

When a billion users can participate in the blockchain without needing to understand its principles, perhaps a singularity moment in the crypto world is quietly approaching. As the network effect generated by this integration continues to strengthen, it may give rise to a super liquidity pool with a daily transaction volume surpassing trillions, achieving the mainstream adoption and true maturity of the crypto market.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia