In May 2023, Binance Launchpool (new coin mining) started to operate in an orderly manner. A total of 14 new coins have been launched up to now.
From April to November, an average of 1 new coin was launched each month, maintaining a steady pace.
From December to January 2024, Launchpool launched 3 new coins each month.
Mining frequency of Binance Launchpool
From April 2023 to present, approximately $54.57 billion in funds have participated in Binance Launchpool. Based on the closing price on January 31, the total value of the mined new coins is $931 million.
➤ Learn about new coin mining
Binance's new coin mining (Launchpool) is somewhat like a demand deposit, where the principal can be withdrawn at any time. However, the returns from Launchpool are not fixed interest, but rather new coins, some of which are high-potential projects.
Therefore, Binance Launchpool can be considered a low-risk, flexible, and occasionally surprising short-term investment method.
➤ Discover new narratives
The new coins launched in December, ACE, NFP, and AI, are all related to Web3 projects.
The new coins launched in January, XAI, MANTA, and ALT, are related to Layer2 projects.
This reflects Binance's strategic layout—Web3 and Layer2. These two sectors are likely to be the mainstream narrative in the industry going forward.
Binance Launchpool projects
In the first phase, from April to July 2023, most of the innovations were in financial models.
In the second phase, from August to December 2023, most of the new projects were related to Web3, AI, and games.
In the third phase, in January 2024, there were projects related to Layer2 and with strong technical aspects. Of course, there were also projects that were innovative in terms of technology or provided technical solutions in Layer1.
The 14 projects of Binance Launchpool reveal several innovative narratives:
In terms of technology, including modularization, cross-chain, parallel trading technology, and Web3 support technology.
In terms of economic models, including DEX innovation, LSDFi, etc.
In terms of application gameplay, including the combination of Web3 and AI, games, social, etc.
In the Layer2 track, including ZK, modular L2, etc. All 3 projects launched in December 2023 are related to Web3. All 3 projects launched in January 2024 are related to Layer2.
Web3 and Layer2 should be Binance's two key strategies.
➤ Focus on the performance of new coins
Next, let's take a look at the performance of these 14 new coins in Binance Launchpool. Considering the significant fluctuations at the opening of trading, the closing price on the first day of trading is used as the baseline to calculate the mining returns of new coins and the future price trends.
Before October 2023, the mining period was generally longer, with the shortest being 20 days for SUI, but the annualized return rate was relatively low. After November 2023, the mining period was generally shorter, with the longest being only 7 days, but the annualized return rate was higher.
Observing the performance of the new coins in Binance Launchpool:
First, according to coinmarketcap market value data, the ranking of the market value of these 14 new coins in Binance Launchpool is as follows: 2 projects are in the top 50; 2 are ranked 50-100; 5 are ranked 100-200; 3 are ranked 200-300; and 2 are ranked 300-400 (ranked 301 and 306, respectively).
Second, except for NFP, these new coins in Binance Launchpool all experienced varying degrees of highest price increases after being launched. SEI's price was nearly 5 times the closing price on the day of trading. NTRN's highest increase exceeded 300%, and CYBER and PENDLE's highest increase exceeded 200%.
Third, the trends of AI, NFP, ACE, and MEME were average, but the mining returns of these 4 coins were very considerable. These 4 coins were launched between October and December 2023, and this situation may be due to the market having overly high expectations at the initial stage of the launch.
Looking back at the new coins launched before October 12, 2023, except for RDNT, after some time, they were generally on an upward trend.
Fourth, the performance of the new coins launched in January 2021, ALT, MANTA, and XAI, in terms of mining returns and upward trends, was good.
Overall, from 2023 to January 2024, the vast majority of new coins in Binance Launchpool either had high mining returns or experienced significant subsequent growth. The projects launched between October and December 2023 were affected by overly high expectations, resulting in poor later price performance, but with considerable mining returns. With the passage of time, these projects may also show performance. In addition, the performance of Layer2-related projects was outstanding.
➤ Compare mining methods
In Binance Launchpool, by depositing BNB, stablecoins (FDUSD, TUSD) into the mining pool, new coins can be mined.
Comparing the 3 mining methods, the return rate of FDUSD is slightly higher than TUSD, but the return rate of BNB is significantly higher than the two stablecoins, almost equivalent to the sum of the return rates of the two stablecoins.
Comparison of participation methods in Binance Launchpool
On the surface, BNB has greater volatility. However, BNB has many use cases and is also one of the mainstream investment targets, with sustainable growth potential. BNB holders can simultaneously benefit from the growth of BNB and the benefits and surprises brought by Launchpool.
From April 2023 to present, the amount of BNB participating in Binance Launchpool has continued to increase. The price of BNB has also risen accordingly, with a 50% increase compared to the low point in October 2023.
Binance new coin mining
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