The most dramatic event in the crypto world recently is undoubtedly Alpaca coin $ALPACA! After Binance announced it would delist on May 2, many expected a crash, but it turned into a 'meat grinder' for long and short positions—$30 million in circulating market cap managed to generate over $10 billion in trading volume, with daily liquidation data topping the charts, leaving the market stunned!
The delisting news acts as a 'reverse signal', with Alpaca coin performing a surge against the trend!
Alpaca ALPACA has risen 28% in a single day, currently priced at $1.07, setting a recent high. Yesterday, the coin briefly plunged over 70%, but quickly rebounded to a new high.
ALPACA had a liquidation of $1.842 million in the past hour, ranking first across the network and primarily affecting short positions. Binance's perpetual contract fee is currently 0.29%, and Binance will delist contracts today (30th) at 17:00. Binance will delist spot trading on May 2 at 11:00.
The news of 'delisting from Binance' is usually a huge negative for projects—delisting means reduced liquidity and shrinking trading volume, and token prices often fall in response.
However, after the delisting news was released, $ALPACA quickly experienced a drop of about 30% (calculated based on Binance exchange spot), but within three days, the price surged nearly 12 times, skyrocketing from $0.029 to a peak of $0.3477. Meanwhile, the open interest (OI) of $ALPACA far exceeded its token market cap several times, and the long-short game surrounding $ALPACA has begun.
On April 29, Binance raised the maximum fee rate for $ALPACA to ±4%. For short sellers, the increase in the fee rate will significantly raise the cost of shorting, but the rules that should deter short sellers led to an 'irrational' drop in $ALPACA's price, which fell from $0.27 to around $0.067.
The act of Binance delisting AERGO's spot before listing its contracts itself has serious issues and can be seen as malicious manipulation.
There was a crazy rally amidst bad news, and the appearance of 'short-squeezing' news led to a smooth decline; the complex movements of $ALPACA over the past few days have overturned many people's positions.
After the voting for delisting ALPACA on Binance began, it experienced wild fluctuations, rising from a low of $0.0278 to $0.95 in just a few days.
It has surged nearly a hundred times; do you know what ALPACA's market cap is now?
126 million, that's right, 126 million, and it's just a small imitation.
In the last 24 hours, the liquidation amount for ALPACA reached $36.78 million, even surpassing ETH, and in real-time liquidation data, ALPACA was predominantly in the spotlight.
Among all the coins that Binance has delisted in its history, most of them previously had no contracts, but after AERGO and ALPACA, it's expected that there will gradually be more in the future.
Because this is really a good business.
Such delisted coins from Binance that can be ramped up recklessly are very rare; they usually drop to the bottom and then double or triple, but are likely to fall back again, with most experiencing infinite declines.
This was the previous inertia and what everyone thought was the script, so most people wouldn't invest large amounts in buying after Binance delisted the coin; only a small portion would speculate.
It teaches us a harsh lesson: for those with excessively high popularity and contract trading volume significantly exceeding spot, we should maintain enough respect, and the best approach is to do less or avoid it altogether.
It can be confirmed that Binance's delisting of ALPACA was not a spur-of-the-moment decision, but rather a premeditated conspiracy, one that a small project could not accomplish alone, and it must have involved the cooperation of Binance exchange.
In a context where regulation is not yet sound, the crazy speculation of ALPACA may not be an isolated case. Currently, its price is still fluctuating significantly, and extreme market conditions may continue before the official delisting. For retail investors, maintaining caution and reducing impulsive actions may be the most prudent strategy—after all, behind seemingly attractive 'opportunities' lie hidden risks under the dual hunt of traffic and funds.
