$ALPACA plummeted 50%, most of the bulls were killed! At present, the leverage has been reduced to 6 times, and most of them have been liquidated after a 50% drop! Those who want to eat the funding rate today are basically out of luck!

Delisted increased by 12 times, new listings dropped by 98%. It's really 'reverse Tian Gang'!
$ALPACA recently gave those who enjoy trading counterfeit contracts another lesson. After Binance announced the delisting, #ALPACA increased by more than ten times! The market capitalization rose from less than 4 million to 50 million!
Why was it able to increase tenfold and remain so strong?
1. After the delisting announcement, the market capitalization was less than 4 million, so the funds needed for the pump were not much.
2. It is said that before the pump, they bribed the traders to open short positions, causing retail traders to suffer losses! Users who followed the trades were innocently liquidated!
3. Whales opened many contracts at the bottom, with Binance contracts alone seeing a trading volume of over 5 billion USD in three days, and the liquidation funds in one hour could buy the entire market capitalization of #ALPACA in spot!
4. Every hour there is a funding rate of 2%, which means 48% a day! Even during sideways trading, they can directly earn funding rates; short positions deduct funding rates can also lead to liquidation!
So short positions simply cannot hold on; the only options are to hedge or stop-loss!
5. When retail traders stop-loss their short positions, and the funding rate drops, the whales will close some long positions, causing a drop and then liquidating a wave of long positions, conveniently inducing shorts. As soon as retail traders open a short, they immediately open a long and shoot up violently, not giving stop-losses a chance! At 10:00 AM, in just ten seconds, it increased by 20%, and stop-loss orders wouldn't even get filled! They get trapped or liquidated!
6. The back-and-forth rapid rises and falls clear a wave of long positions and induce a wave of short positions; the funding rate goes up again. At 10:00 AM, the funding rate had already dropped to 0.02, then a rapid drop followed by a rapid rise, and the funding rate went back up to 0.35%.

So it's best to avoid these coins; the volatility is huge, and without enough margin, you'll only face liquidations back and forth! Previous articles have often reminded that when liquidity is poor, it's best not to touch counterfeit contracts, as they are very easy to manipulate! Cherish your principal and stay away from counterfeit contracts!

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