#Binance Alpha积分空投 Yiy's analogy is interesting—Alpha points are indeed like the "eggs" of this cycle, a type of asset that is widely distributed but easily underestimated. From an on-chain perspective, the key to these airdrops lies in tracking the participation behavior of large holders and the flow of funds.

Breaking down into several dimensions: First, the participant structure—accounts willing to spend effort helping others are usually associated with highly active addresses, and their subsequent transfer patterns can be very informative; second, the release mechanism—if the points are unlocked gradually, it's important to focus on the lock-up periods of large holders and their selling pressure windows; third, liquidity premium—the acquisition cost for early participants is almost zero, and once listed on exchanges, there will be obvious arbitrage opportunities.

From a historical cycle perspective, airdrops driven by such incentive mechanisms typically attract two types of people—long-term holders with strong conviction and short-term arbitrageurs. On-chain data will clearly reflect the rhythm of these two groups' inflows and outflows. The key is to identify which addresses belong to institutions or large holders before the release and track their movements during the unlocking period.

Simply put, there's no need to idolize Alpha points, but don't ignore their value as on-chain signals—monitoring participation depth and fund flows is more practical than price prediction.