After being listed on Binance Alpha, a project has recorded impressive growth, with its market value surpassing more than $200 million.
From receiving support from World Liberty Financial (WLFI) to participating in smart money and listing on Binance Alpha, BUILDon has become a notable name in cryptocurrency.
What is Driving BUILDon’s Growth?
BUILDon (B) is a project within the BNB Chain ecosystem. The project has garnered significant attention recently due to its strategic moves and impressive performance.
First, World Liberty Financial (WLFI) announced the purchase of a certain amount of B tokens to support BUILDon, expressing its endorsement of the project’s choice of USD1 as its base trading pair. WLFI emphasized that USD1 could help accelerate BUILDon’s development.
This move provided financial backing and enhanced BUILDon’s credibility in the eyes of the community. It contributed to a sharp increase in the price of the B token and pushed the project’s market value beyond the $212 million threshold in a short period.
However, many users are skeptical about WLFI’s somewhat confusing investment decision, which is similar to its previous investment in EOS.
“First of all, when I saw this project, I already thought that you created it. Secondly, let’s say it’s not like that. How did you come to the conclusion that they were not scammers and invested?” An X user questioned.
Following WLFI’s announcement, several major investors also took notice of the project, further fueling BUILDon’s growth momentum. A smart money wallet purchased 3.32 million B tokens, achieving an impressive return rate of 117%.
This demonstrates strong confidence from experienced investors in BUILDon’s potential, especially as Binance Alpha—a platform supporting new projects by Binance—also announced its support. Being listed on Binance Alpha boosts liquidity and allows BUILDon to reach a vast global user base, creating momentum for continued market value growth.
Potential and Risks
On-chain data on CoinMarketCap shows that meme coin B’s trading volume surged nearly 682% in the past 24 hours, reaching over $731 million. Of course, almost 95% of the volume comes from DEXs. The price of the B token peaked and reached an ATH at $0.285 before correcting and stabilizing around $0.212 at the current moment.
Even so, the current price reflects a nearly 1,020% increase compared to five days ago ($0.019). Compared to the price of B meme coin at the time Binance Alpha announced the listing ($0.043), at the current price, B meme coin has increased by about 500%.
This growth reflects BUILDon’s appeal within the BNB Chain ecosystem, which is renowned for its low transaction fees and fast processing speeds, attracting DeFi projects and developers.
However, BUILDon also faces numerous challenges. The cryptocurrency market is inherently volatile, and competition within the BNB Chain ecosystem is intensifying with many emerging projects. And as BeInCrypto reported, many projects saw large price drops following the previous Binance Alpha listing announcement.
On-chain data reveals that the most recent trading volume comes from the B/USD1 pair. Relying on USD1 as a trading pair could pose risks, especially since it remains a relatively new stablecoin with a market cap of just over $2 billion. It could lead to negative consequences if this stablecoin encounters liquidity or regulatory issues.
Nevertheless, with support from major organizations like WLFI and the involvement of Binance Alpha, BUILDon has a solid foundation for growth. If it can maintain its momentum and continue expanding its ecosystem, BUILDon has the potential to become a leading project in the DeFi space by 2025.
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