This cycle is undoubtedly the year of revival of DeFi. Data at the end of 2024 show that DEX's daily trading volume has reached 20% of that of centralized exchanges. When people in the industry generally complain that the second-level difficulty is not to make money, the chain is filled with ten times and hundreds of times opportunities.

It is also thanks to the prosperity of the on-chain ecosystem that mainstream exchanges have made efforts in the Web3 wallet track. Because they are backed by their exchanges, their Web3 wallets are born with no shortage of users. As the competition among CEXs increases, their wallet business has also become a new incremental entrance.

For users, the exchange's Web3 wallet has also become a priority for them to participate in on-chain activities. Compared to previous generation wallets like Metamask. The Web3 wallets produced by the exchanges have achieved a qualitative leap in all aspects such as the fast, convenient and secure use, especially a nearly seamless asset transfer experience between various exchanges and their wallets, which has also made the Web3 wallets of the exchanges the first choice for users.

Previously, OKX wallet has always dominated the top spot in the exchange Web3 wallet. This situation reversed in March 2025. When the market is bleak and people scream in pain, they have entered a bear market. However, Binance Web3 wallet ushered in a rapid increase in transaction volume, and in a very short period of time, it took the lead in both total transaction volume and active traders, and once jumped into the most popular wallet. The Jedi counterattack in the wallet war was realized. What did Binance Web3 wallet do right?

(Data source DUNE, Binance Web3 wallet has ushered in a rapid increase in transaction volume since March 17)

Strategic differentiated development

In December 2024, Winson, head of Binance Web3 wallet, said at an X Space that the wallet industry has huge development potential and differentiation is the key to meeting market demand. Binance Wallet will adopt a unique strategy to open up a differentiated development path.

At present, the achievements we can see from a strategic perspective are precisely because it has embarked on a development path that does not copy other wallets, but has chosen a differentiated development path.

In March 2025, the crypto market fell into bleakness and chaos. Bitcoin once fell below 80,000 US dollars. During the Ethereum ICO period, the major players fled, and their exchange rate against Bitcoin continued to hit lows. It is precisely under this sluggish market that the BSC chain is booming, and Binance Web3 wallet also performed very well.

Whether it is the on-chain ecosystem or the development and prosperity of Binance Web3 wallet itself, it is thanks to Binance's combination of punches to consciously promote the development of the entire ecosystem.

First of all, in order to promote the prosperity of the BSC chain ecosystem, Binance received a US$2 billion investment from Abu Dhabi investment in MGX. Binance’s two founders CZ and He Yi personally played the game and brought Meme tokens, which made the BSC chain ecosystem active. According to DeFiLlama data, in February and March 2025, the application income on the BSC chain and the DEX transaction volume rose steadily, especially in March, when application revenue reached a historical high, and DEX transaction volume also reached the high in this bull and bear cycle.

(Data sourced from DeFiLlama)

Binance Web3 Wallet also seized the moment of BSC chain trading activity and struck while it was hot. In order to cooperate with this round of Meme token craze on BSC chain, Binance Web3 Wallet launched various activities and innovations.

For example, on March 17, Binance Web3 Wallet announced the launch of a six-month free fee-free event. The next day, it launched Binance Alpha 2.0. This upgrade iteration of Binance Alpha allows users to directly purchase tokens that could only be purchased in the Binance Wallet Alpha area on the Binance Exchange. DUNE data shows that it was also on March 18 that Binance Web3 wallet ushered in a rapid increase in transaction volume. On March 18, the transaction volume exceeded US$126 million, and the overall total transaction volume of crypto wallets accounted for more than 49% on that day, which was more than 24 times higher than the single-day transaction volume of less than 4 million in early March. In terms of the number of active users, the highest number on March 27 exceeded 170,000, accounting for more than 50% of the total number of active users in crypto wallets.

(Since mid-March, the change in the proportion of transaction volume of major wallets, data source DUNE)

(Since mid-March, the proportion of active traders in major wallets has changed, data source DUNE)

The Binance Alpha section was originally a project that allows users to discover and participate in potential tokens, and it can be said that this is an "observation pool" for coins listed on Binance Exchange.

The top Meme tokens in the "white cloth market" have also experienced the process of launching Binance Alpha to launch the Binance Exchange. It is this combination of wallets and exchanges that has made the "white cloth market" continuity and has also caused the transaction volume on the BSC chain to surge.

In March, another event in the industry that attracted widespread participation of the whole people and increased the popularity of Binance Web3 wallet was the TGE event of Binance Web3 Wallet.

As of April 3, Binance Web3 wallet has conducted 8 exclusive TGEs. Users holding BNB can participate in IDO through this sector, namely Initial DEX Offering (the first decentralized exchange token issuance). For users, this is a way to obtain high returns by holding BNB without risk. The fundraising and income of the last 7 TGEs were summarized:

In addition to the hot TGE event in March, there are many rich activities for Binance Wallet users to participate in, as well as a rich product experience of Binance Web3 Wallet that you can enjoy.

As an exchange's Web3 wallet, it is originally building a bridge between centralization and decentralization. In order to build this bridge better, Binance Web3 wallet has made a lot of efforts in product functions and various details.

The details and product optimization have strengthened users' stickiness to Binance Web3 wallet and also led it to take a differentiated path.

Another feature that distinguishes Binance Wallet from other exchange wallets is the Binance Alpha sector, which helps users discover projects with potential in the early stages. The popular project of Binance Alpha may be launched on Binance Exchange. In addition, the launch of Binance Alpha2.0 allows exchange users to purchase Alpha projects. This undoubtedly once again opened up the path between Binance Exchange and Web3 wallet, eliminating the boundary between centralization and decentralization.

On the other hand, the BNB in ​​Binance Web3 wallet can also participate in Launchpool activities in each Binance Exchange. This not only protects the interests of BNB holders, but also breaks the towering wall between decentralization and centralization.

Working to make a good link between decentralization and centralization is also the deep-seated strategic logic behind Binance Web3 wallet’s actions and innovations.

Continuously optimize user experience and greatly reduce the threshold for users to participate in on-chain activities

Details can reflect a product's attitude and ability.

On the homepage of Binance Exchange, open the funds page and you can directly switch to the Web3 wallet interface. The switching experience is very silky. This move greatly increases the reachability of the wallet itself in product design, transforming more "currency speculation" users in the secondary exchange market to participate in on-chain interaction.

Another important criterion for measuring the quality of a wallet product is whether the wallet meets the core needs of users to surf on the chain, and whether the wallet’s experience is comfortable and convenient.

Compared with the previous generation wallets like the Little Fox Wallet, Binance's Web3 wallet is undoubtedly more silky and easy to use in terms of user experience. First of all, in the product page design, the main color of yellow and white is in line with the consistent style of Binance products, and the wallet interface is simple, allowing users to quickly find the functions they want to use. The novice education is done well, and there will be a certain question-and-answer popular science below each product.

Whether it is the adjustment of the position of the Web3 wallet in the exchange interface or the concise and clear novice-friendly interface design in the Web3 wallet, it is undoubtedly user-friendly and can also enable more users to participate in decentralized on-chain operations.

At present, Binance Web3 wallet supports 30+ chains and 100+ Dapps. It is worth mentioning that in Binance's Web3 wallet, there is a financial management area, which can be directly clicked on the homepage of the wallet. In this area, it supports the pledge of a variety of mainstream cryptocurrencies, such as BNB, ETH, BTC, USDT, etc. It has been connected to many staking agreements, including Ondo, Aave V3, etc.

The financial management area is simple and clear. First, it is divided into two categories: Simple Yied and Yied+. In the Simple Yield sector, products are classified according to three categories: stablecoins, popular and protocols. For users, the logic of usage is clearer. Yield brings together a few projects that users selected by Binance can provide potential airdrops or additional benefits through staking, restaking, lending and PWA.

Another highlight is the discovery interface of Web3 wallet, which has three major sectors, namely airdrop, exclusive TGE, and DApp. First of all, there is the DApp sector, which has been connected to 100+ Dapps. Users can directly use the Dapp they want to use in this sector. These Dapps cover all aspects of various on-chain tools and DeFi products. In the airdrop sector, various popular airdrop projects have also been connected, which eliminates the steps of users to screen airdrops by themselves and helps users improve efficiency.

It can be said that a Binance Web3 wallet in hand can basically meet all the needs of on-chain surfing. Moreover, occasionally there will be hidden generous benefits drops, such as exclusive TGE, which brings additional income to BNB holders.

Summarize

In March 2025, Binance Web3 wallet once became the most popular wallet among users. Looking back at the history of the development of Binance Web3 wallet, it was originally acquired by Binance, and then continued to adapt to the development of the market and the needs of users, and finally presented the Binance Web3 wallet product that users are seeing today.

From an acquired wallet to now growing into the most popular wallet for users, what is worth learning from in the industry is the strategic deployment of the Binance team for the overall development of the wallet, and the second is the details of the product.

At the moment when people in the industry are watching the bears, Binance can achieve the booming Meme market on the BSC chain and the rapid rise in wallet market share, both of which are inseparable from the exquisite strategic deployment. From Meme to a series of activities in the wallet, from the announcement of the investment news to the founder's leading meme playing, Binance has made a combination of punches.

Under this combination, the cornerstone of Binance Web3 wallet that can quickly surpass competitors is its product itself: a simple and clear interface, smooth operation experience, and rich access to various ecology on the chain. These are the core reasons why users are willing to stay after being attracted by various activities.

Good products need to be matched with good marketing methods. This may be the current stage when the crypto industry is gradually becoming mainstream. Binance Web3 Wallet's Jedi counterattack has given major project parties a methodology that can be learned from.