- Binance Alpha has upgraded to Alpha 2.0, enabling direct on-chain token purchases.
- This update allows CEX users to purchase DEX tokens without the need for external wallets.
- The update could elevate the price of $BNB and other tokens listed on Binance Alpha.
Binance has announced the launch of Binance Alpha 2.0, an upgraded version of Binance Alpha, to expand the features of its token pre-listing selection pool. This upgrade now allows centralized exchange (CEX) users to directly purchase decentralized exchange (DEX) tokens without external wallets or cross-platform transfers. It is designed to enhance investors’ accessibility, liquidity, and user experience.
This move effectively bridges the gap between CeFi and DeFi by allowing users to trade Alpha-listed tokens using their Spot and Funding Accounts. Its key features include unified trading, enabling on-chain token purchases within Binance, and a six-month zero-fee promotion on Swap and Bridge features.
Binance co-founder Changpeng Zhao (CZ) took to his X post to state the launch of Binance Alpha 2.0 is a “brilliant move.” He said this would allow CEX users to buy any DEX tokens directly from the CEX, without requiring withdrawals, and appreciated the team for coming up with this idea. CZ made a major prediction about how Binance can lead the new trend for centralized exchanges by stating that many other CEXs will copy Binance’s new innovation, and DEX will potentially get more volume. This announcement has generated significant buzz, indicating strong community interest and positive sentiment, which could influence market dynamics.
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Since the announcement, several Alpha-listed tokens have experienced significant price surges. For example, $TUT saw a 70% hike in price, reaching a market capitalization of $21.48M, and is currently trading at $0.022. This new integration could increase the usage of $BNB as the transaction of DEX Tokens on the Binance Smart Chain requires gas fee. Further, the Alpha 2.0 update facilitates on-chain trading, which would require more $BNB usage.
The $BNB experienced a 12% surge in the last 7 days in its price value and was trading at $618.31, as of press time. According to CoinMarketCap, the RSI value of $BNB is currently at 53.05, which shows a neutral trend, whereas the MACD demonstrates an upward trend following a bullish crossover. However, this latest update in the Binance ecosystem could drive a price surge in the near future, reinforcing Alpha 2.0’s role in reshaping trading and creating a key opportunity for investors to watch closely.
