Binance Alpha, the platform launched by Binance exchange for coin trading, has experienced a sharp decline in trading volume. Data reveals that its daily trading volume dropped from $2.04 billion on June 8 to just $987 million by June 14, signaling a 51% decrease and a 12.6% drop compared to the previous day. ZKJ ($703 million), KOGE ($159 million), and TAIKO ($25.75 million) are among the most traded cryptocurrencies on the platform. This drastic volume drop reflects growing investor ‘risk aversion’ amid diminished market volatility and waning promotional campaigns. The decline of trading volumes for prominent cryptocurrencies like ZKJ and KOGE, characterized by negative funding rates and divergent market opinions, paints a concerning picture. Further compounding the issue is Binance Alpha’s vulnerability to slippage and potential exploitation due to factors such as bots and Miner Extractable Value (MEV). Investors are cautious and less active on the platform. Market players appear to be divided between those seeking short-term gains and those who are more risk-averse. A general wait-and-see approach prevails, with individual investors largely stepping back while those who trade continue to do so based on speculative strategies or automated trading bots. This suggests a decline in market depth on Binance Alpha and potential for greater price fluctuations.