At the end of April 2025, Binance launched a new program called Alpha Points, which, along with the ability to trade without fees, contributed to a significant increase in activity and trading volume on the platform’s crypto wallet. As a result, Binance Wallet’s market share among other services reached over 80%.
This is reported by Finway
As of May 8, 2025, Binance Wallet’s share of transaction volume was approximately 80%. Experts attribute this to the absence of transaction fees and the introduction of Alpha Points.
“Binance Wallet has dominated the Web3 wallet market, now holding an 80% market share, driven by recent Alpha Points transaction activity.”
However, at the time of preparing this material, according to Dune Analytics, Binance Wallet’s share on May 7 and 8 decreased to 73.2% and 67.7%, respectively.
Despite these fluctuations, it is noted that Binance Wallet remains the leader among other options. Experts believe that the service’s dominance is due to two main factors. The first, less noticeable, is the free trading initiative announced on March 17, 2025, which will last until September of this year. This has been a motivating factor for the rapid increase in trading volume in the crypto wallet over the past two months.
The second factor is the Alpha Points program, which awards points based on user activity within the system. Points are awarded daily, encouraging further trading. The program launched at the end of April 2025, and the increase in trading volume aimed at earning points is also supported by corresponding charts.
Binance introduced its crypto wallet in November 2023, and by December 2024, a rebranding occurred, resulting in the service being renamed from Web3 Wallet to Binance Wallet. More details about its functionality can be found on the Incrypted website.