Alpaca, this "Binance cast-off", unexpectedly reversed after the delisting news broke, skyrocketing from $0.02 to $0.51, a 25-fold increase that crushed the shorts, with the funding rate jumping from -4% to +1.5%. What was supposed to be a failing project seems to have become a speculation pawn for capital: is it a textbook case of shorting on negative news, or a classic script of coordinated harvesting? After the delisting on May 2, will it return to reality, or continue to play out in madness? The timing for entering short positions becomes a mystery, and one misstep could lead to being cannon fodder. In the crypto world, another game of strategy is unfolding.