The new asset issuance platform Binance Alpha under Binance officially launched Euler Finance (EUL) on October 10 and initiated an airdrop event for users who meet the point criteria.
At the same time, the Euler protocol has made significant progress in the DeFi sector, with total borrowings exceeding 2 billion USD, driving the strong price performance of its native token EUL on multiple exchanges, including Gate.
01 Binance Alpha launches EUL
Binance’s Web3 The asset issuance platform Binance Alpha announced the official launch of Euler Finance (EUL) on October 10, 2025.
This news has been confirmed by multiple cryptocurrency news media.
According to the official announcement, Binance Alpha has launched the corresponding EUL airdrop event.
Users holding at least 200 Binance Alpha points are eligible to receive an airdrop of 5 EUL tokens, distributed on a first-come, first-served basis.
The airdrop mechanism design is quite sophisticated: if the rewards have not been fully distributed, the points threshold will automatically decrease by 15 points every hour.
Claiming the airdrop will consume 15 Alpha points from the user, and users who successfully claim must confirm the receipt on the Alpha event page within 24 hours, otherwise, it will be considered as an automatic forfeiture.
02 Euler Finance Protocol Progress
Euler Finance is a non-custodial lending protocol based on Ethereum, referred to by its team as a "DeFi super application."
Recently, the protocol has achieved significant breakthroughs in business data.
The total borrowing amount of Euler has reached the milestone of 2 billion dollars, with over 871 million dollars occurring on the Ethereum network.
At the same time, Euler’s total deposit amount has reached 4 billion US dollars, of which approximately 1.77 billion US dollars is on Ethereum.
This growth signifies that the DeFi protocol has achieved significant market adoption.
Its total locked value (TVL) has risen to an all-time high, with nearly 100% revenue growth in the third quarter of 2025.
In Euler’s rapid growth, a stablecoin trading platform called Plasma is an important driving force.
This recently launched Layer-1 blockchain has a stablecoin supply of over 5.5 billion dollars and achieved over 1 billion dollars in total deposits on EUL in less than 10 days after its launch.
03 EUL coin market performance
The recent market price performance of the EUL coin is also noteworthy.
Before the launch of Binance Alpha, EUL has been traded on the Gate platform.
On October 6, Gate announced the launch of EUL, and the token price surged by about 44%, rising from $9.6 to $13.8.
The price then stabilized around $12.7, with an increase of 31.55%.
According to the data on October 8, the EUL price, although it has fallen by about 3% in the past 24 hours, still remains above the key psychological level of 10 dollars.
The price of EUL reached a high of $10.80 on October 7, and then slightly retreated along with the Bitcoin pullback.
On October 10, when EUL was launched on Binance Alpha, the initial reference price of the token was set at $12.93.
According to BlockBeats news, the temporary reported price of EUL on Binance Alpha is 9.67 dollars.
04 Market Analysis and Outlook
From the market reaction, EUL’s price on CoinGecko once surged to the top among the 300 largest cryptocurrencies.
Trading volume surged by 251%, reaching 8.5 million dollars.
This market performance is closely related to the improvement of the fundamentals of the Euler protocol.
Token Terminal data shows that the protocol’s revenue and fees grew by over 500% in 2025, reflecting strong user adoption.
Data from DefiLama indicates that Euler’s TVL reached a new all-time high of $1.52 billion on October 6, representing nearly a 15-fold increase since the beginning of 2025.
In terms of capital efficiency, the data shared by the Euler Labs team indicates that the utilization rate of 4 billion dollars in deposits is 48%.
Analysis indicates that the overbought condition of EUL and profit-taking in the entire crypto market may be the reason for the recent slight price pullback, but the strong performance of the protocol’s fundamentals still provides strong support for the token price.
Future Outlook
The rapid expansion of Euler Finance in the DeFi space has attracted widespread attention from mainstream exchanges. With the addition of Binance Alpha, EUL has gained a broader trading platform and user base.
Despite short-term price fluctuations, the fundamentals of the protocol continue to improve—borrowing volume has exceeded $2 billion, deposit volume has reached $4 billion, and TVL has hit an all-time high, all of which provide strong support for the long-term value of EUL.
