From Binance Launchpool data, see the current market's "Coin FOMO."
Original Article Title: "Binance Data Reveals: Bull Market Still Alive!"
Original Article Author: Murphy, On-chain Data Analyst
Subconsciously, some may think that only paid data holds value, when in fact, many free datasets are also very useful. For example, after each LaunchPool event, Binance releases relevant data that contains market sentiments, fund flows, and traces of the game between whales and retail investors.
We all know that Binance has the best on-chain liquidity, attracting a massive user base and funds. Although we cannot directly access the relevant on-chain data, we can still observe some clues from limited public data.
(Figure 1)
Figure 1 is a compilation of all LaunchPool-related data from August 2024 to the present. In 2024, only FDUSD and BNB could participate in LaunchPool, but in 2025, USDC was added, so we can compare the data in two parts.
From the 64th RED period to the 66th GUN period, the number of participants in each period remained relatively stable, but the amount of FDUSD and USDC locked in increased from one period to the next. Since swapping stablecoins on Binance is fee-less, theoretically, all idle stablecoins would have the incentive to participate in yield farming, including USDT. The more stablecoins participate, the more idle buying power exists within the Binance exchange.
At the same time, we also note that in these 3 events in 2025, the combined FDUSD+USDC scale was roughly between 30 billion to 40 billion USD, while in the August to December 2024 events, the quantity of FDUSD was around 15 billion to 20 billion USD, indicating that the funding scale in Q1 2025 is significantly larger than that of 2024. Some may attribute this to the addition of USDC in 2025, but I may have a different interpretation.

(Figure 2)
We can observe a detail: as shown in Figure 2, at the start of each LaunchPool period in 2024, FDUSD had a very high premium. This indicates a high demand for FDUSD at that time. For example, all USDT and USDC holders would convert to FDUSD to participate in mining at that moment, temporarily driving up the FDUSD exchange rate.
However, as the 25-year event began, the premium of FDUSD started to decline, indicating that the demand for FDUSD was not as high as before. The underlying reason is that USDC diverted the demand that was originally for FDUSD. Investors holding USDC do not need to exchange it for FDUSD, and some of the investors holding USDT have also switched to USDC (because after mining ended, USDC is more stable than FDUSD).
In other words, as long as funds are mostly idle, they will participate in LaunchPool. The FDUSD+USDC participants in Year 25 and the FDUSD participants in Year 24 should both be considered as the vast majority of idle funds deposited internally by the exchange. It is not solely because Binance opened a USDC participation channel in Year 25 that led to the significant increase in fund data.
Furthermore, the "per capita lockup amount" in Year 25 Q1 is also higher than in Year 24 November-December, indicating the entry into a stage dominated by whales. This means that the user base with idle purchasing power has become more dominated by "whales."
This also seems to indicate a reality: during November-December of Year 24, more whales held "coins," but by February-March of Year 25, whales held "U" instead. At this point, the market has completed a round of wealth transfer, and at the same time, whales have completed the encirclement of retail investors. They hold a large amount of idle funds and are patiently waiting for the next opportunity.
· Based on the above observations, we can draw several conclusions:
1. The idle funds in the market now are not only not decreasing compared to Year 24 but are increasing, but overall sentiment is cautious, and effective purchasing power has not been formed.
2. The increasing number of participants in LaunchPool indicates that more people have cashed out, but the funds remain in the market and are unwilling to exit, meaning that although the sentiment is cautious, it is far from being completely despairing.
3. The higher per capita lockup amount indicates that idle purchasing power is increasingly controlled by more whales; after a round of wealth redistribution, purchasing power has returned to the hands of whales. They generally believe that the bull market is not over and are therefore still waiting in the market for an opportunity.
You may also like

Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026
MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.

Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million
Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.

White House Discusses CLARITY Act With Law Enforcement Ahead of Senate Vote
The White House discussed the CLARITY Act with law enforcement ahead of a Senate vote, focusing on illicit finance risks and developer protections.

$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage

Bitcoin Trading Guide 2026: Strategies for Experienced Traders

What Is XAUT and PAXG? Why Tokenized Gold Is Booming in 2026

Cryptocurrency CEXs are flocking to sell US stocks, and traditional brokerages are facing an "uninvited guest."

Will the SpaceX IPO Hurt Bitcoin? Here's What Traders Are Watching

Foreign selling in the South Korean stock market accelerates, with cumulative net sales reportedly reaching $75 billion this year
On June 9, The Kobeissi Letter, citing Goldman Sachs data, reported that global investors are selling South Korean stocks at an unusually rapid pace. In the latest trading session, foreign investors sold about $801 million worth of Kospi constituent stocks again; total foreign outflows last week reached about $10 billion, and the market has been in net foreign selling on nearly every trading day over the past month. According to the data cited in the report, foreign investors have sold about $75 billion worth of South Korean stocks so far this year. Meanwhile, South Korean retail and institutional investors together recorded roughly $69 billion in net buying over the same period, suggesting that the market’s main buying support has come from domestic capital rather than returning overseas funds. The information currently disclosed still mainly comes from The Kobeissi Letter’s retelling and Goldman Sachs data summaries, while public details on the statistical period and the specific definition of “selling” remain relatively limited.

Fortune Warns of Strategy’s Financing Structure Risks as Bitcoin Premium Narrows
Fortune warned that Strategy’s Bitcoin treasury model faces growing financing risks as MSTR’s net asset premium narrows and preferred stock dividend pressure increases.

Ferrari Challenge Le Mans: Carl Moon to Dominate in WEEX Livery

Sahara AI Responds to SAHARA’s Sharp Drop: No Contract or Product Security Issues Found, Internal Investigation Underway
Sahara AI responded to SAHARA’s 60% price drop, saying no token contract or product security issues have been found and an internal investigation is underway.

WEEX Deposit/Withdrawal Dynamic Island: Your Asset Status, Always in Sight

Scaling Crypto Derivatives: The Digital Asset Infrastructure Behind High-Volume Trading
In the fast-moving digital asset ecosystem, derivatives platforms face an extreme architectural test. High-leverage futures markets demand more than just standard security—they require absolute operational precision, zero-latency matching engines, and ironclad structural scalability, all while navigating intense market volatility.
As global platforms scale to meet these demands, the industry is shifting away from rigid, monolithic setups toward a more agile, "decoupled" infrastructure philosophy.
The Blueprint for High-Volume Copy TradingFor elite global exchanges like WEEX (founded in 2018), this architectural choice becomes critical when scaling high-volume retail features like social copy trading. When thousands of users automatically mirror the real-time strategies of elite traders simultaneously, it triggers sudden, monumental spikes in concurrent transactional volume.
To prevent execution latency or settlement bottlenecks during these peak volatility events, a platform's primary engine must remain entirely dedicated to risk management, copy-trade synchronization, and order matching.
The Architectural Rule: New-generation platforms must separate front-end user execution engines from heavy backend infrastructural overhead to eliminate operational friction.
By separating these layers, platforms can maintain complete sovereignty over their trading environments and user experiences while strategically aligning with institutional-grade infrastructure ecosystems. This strategic framework allows modern exchanges to leverage advanced Digital Asset Custody infrastructure such as Cobo’s behind the scenes, ensuring that backend wallet management scales elastically alongside trading spikes.
Capitalizing on Market Momentum and 400× LeverageIn a derivatives arena where platforms offer up to 400× leverage on perpetual contracts, capital efficiency and market agility are core business metrics. To capture market momentum, an exchange needs the ability to rapidly expand its asset offerings, supporting everything from legacy crypto assets to sudden, trending altcoins across a massive library of trading pairs.
Adopting a flexible, scalable Wallet-as-a-Service (WaaS) solution such as Cobo’s could completely rewrite the development timeline for high-growth exchanges. Instead of spending months of engineering capital building out custom backend wallet architectures for every new blockchain network, platforms can deploy localized infrastructure in days.
This agility allows platforms to instantly scale their listings to over a thousand trading pairs without compromising security or delaying time-to-market. It mirrors the exact operational advantages seen during high-velocity market events, similar to how advanced wallet infrastructure empowers platforms during sudden asset surges; allowing exchanges to pass that speed and liquidity directly to their global user base.
A Mature Foundation for GrowthThe synergy between trusted infrastructure ecosystems and global trading platforms represents the natural evolution of a maturing crypto market. As WEEX continues to scale its global spot and derivatives offerings for over 6 million users, adopting robust backend paradigms proves that platforms no longer have to compromise between cutting-edge trading velocity and uncompromised structural security.

Morning Report | BitMine increased its holdings by 126,971 ETH last week; trader Eugene announced his exit from the crypto market

Wang Chuan: How can one not feel anxious after the neighbor Old Wang made thirty times profit by investing in storage stocks? (Seven) - A quarter-century cycle

Get Paid to Onboard? Try WEEX’s New Homepage with Rewards for Registration, Deposit & Trade

WEEX Custom Layout: Build Your Perfect Trading Workspace in Seconds
Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026
MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.
Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million
Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.
White House Discusses CLARITY Act With Law Enforcement Ahead of Senate Vote
The White House discussed the CLARITY Act with law enforcement ahead of a Senate vote, focusing on illicit finance risks and developer protections.
