#ALPACA
ALPACA Skyrocketing Tenfold — The Redeeming Path of the Whales?
No Surviving Short Positions
Binance announced on the 24th that it will delist ALPACA on May 2nd. By common logic, the price should plummet, but the whales had already made their moves in advance.
A week before the announcement, on-chain data showed that large holders were frantically accumulating coins at low prices, trading volume doubled but the price didn't rise, what does that indicate? The whales were secretly stocking up.
Retail investors went crazy shorting after seeing the delisting news, piling up short positions, while the whales seized the opportunity to go long at the bottom, waiting to harvest.
The exchange rules were also a great help, the shorts were completely wiped out.
Binance changed the settlement rate for ALPACA contracts from every 8 hours to every 1 hour, meaning shorts had to pay 2% interest to the whales every hour, equivalent to being bled dry.
Then the whales violently pumped the price, which rose 195% in one hour, with short positions piling up in liquidation, the system automatically forced liquidations further pushing up the price, creating a vicious cycle of rising and exploding.
The money the whales made is the money retail investors lost; behind ALPACA's tenfold increase is the tragedy of countless liquidations.
In the end, Old Li wants to say that there are no unexpected surges in the crypto world, only pre-written scripts for harvesting.