Alpaca Finance (ALPACA) is indeed facing delisting from Binance, one of the largest cryptocurrency exchanges, effective May 2, 2025. Here's what's happening ¹:
- Delisting Details:
Binance will remove ALPACA's spot trading pairs, trading bot support, and copy trading services. Deposits will no longer be credited after May 3, and withdrawals will stop on July 4, 2025.
- Reason for Delisting:
The decision follows Binance's routine asset quality reviews, citing factors like low development activity, poor trading liquidity, lack of transparency, or concerns regarding regulations or tokenomics.
- Price Action:
Despite the delisting announcement, ALPACA's price surged over 1,800% to $0.8312, driven by a short squeeze as traders expecting a price collapse were forced to buy back in at higher prices. However, the price has since dropped 53% in 24 hours to around $0.5110.
- What's Next:
Users holding ALPACA tokens need to convert or withdraw them before the deadlines to avoid asset losses. Binance might convert remaining tokens into stablecoins after July 5, but there's no guarantee.
Keep an eye on the market, and consider consulting financial experts before making any decisions.