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On May 20, 2025, Binance Wallet—the wallet platform of the Binance exchange—made a mark with a daily trading volume exceeding $5.9 billion, far surpassing major competitors like MetaMask and Phantom, according to data from Dune Analytics. This marks the sixth consecutive day that Binance Wallet has set a new record for trading volume, leaving OKX Wallet trailing with only $48.7 million.
According to Dune’s data, Binance Wallet’s trading volume has impressively grown by over 2,500% in May 2025, rising from $193 million on May 2 to $5.9 billion on May 20, capturing 98.6% of the cryptocurrency wallet market share. Additionally, the number of active traders on the platform exceeded 105,000 on May 20, confirming the strong appeal of Binance Wallet recently.
This surge is linked to the Binance Alpha feature, launched in December 2024, which allows users early access to promising cryptocurrency projects. Although it initially faced mixed reviews and criticism for being associated with memecoin projects and a Telegram channel confusion just one day after its launch, Binance Alpha has gradually regained trust.
By April 2025, Binance Wallet introduced the Alpha Points system, a scoring mechanism based on asset balances and trading volume of Alpha category tokens over the past 15 days, applicable on both Binance and Binance Wallet. This system opens up opportunities to participate in TGE events and receive Alpha token airdrops, encouraging users to trade actively to accumulate points. As a result, from May 5 to May 15, eight projects implemented airdrops exclusively for Alpha Points holders, with an average reward of up to $1,076 per person. Notably, the NXPC token from the Nexpace project brought an average airdrop value of $520 per person.
Related: Community Opposes Binance Alpha: “This Is Not Web3”
The Alpha Points campaign has not only made Binance Wallet a top choice but also helped the platform dominate the cryptocurrency wallet market share. Additionally, the remarkable growth of Binance Wallet has led to a boom on the BNB Chain. According to DefiLlama, DEX trading volume on the BNB Chain increased by 65% in seven days, reaching $27.7 billion, surpassing Solana ($24.9 billion) and Ethereum ($15.7 billion).
Overall, with its smart strategy and groundbreaking features, Binance Wallet is not only solidifying its position but also creating a new wave in the cryptocurrency ecosystem.
