Source: Cointelegraph
Original: (Delisting means skyrocketing? The secret of ALPACA's comeback and Gate.io's crypto 'Survivor Oasis')
When Binance announced the delisting of ALPACA, the market asserted that this marginal token with a market cap of less than ten million dollars would fade into oblivion. However, the plot reversed dramatically within 48 hours—ALPACA's price skyrocketed from a low of $0.066 on April 29 to $1.2, with a daily increase of over 15 times. This madness akin to an 'apocalyptic wheel' not only overturned the bearish logic of traditional finance but also exposed the deep rules of liquidity migration and human behavior in the crypto market.
In traditional understanding, delisting by an exchange means the 'death sentence' for a token, but ALPACA staged a 'resurrection from death'. After Binance's announcement, Gate.io became the only spot trading platform for ALPACA, and within three days its trading volume soared from less than a million dollars to $168 million, accounting for over 90% of the total trading volume across the network. Behind this liquidity 'island effect' is the extreme pursuit of 'low market value + high volatility' assets by speculators—requiring only a few million dollars to trigger multiples of increase, with Gate.io's inclusivity towards high-risk assets becoming the final destination for this capital migration.
It is worth noting that ALPACA is not merely a concept speculation. As a leading lending protocol on the BSC chain, its core business is to enhance user returns through leveraged mining, having once set a record with $1.5 billion locked in. Although the delisting incident raised doubts about its fundamentals, the $168 million 24-hour spot trading volume on Gate.io reveals the fervent belief of speculative funds in the logic of 'gold panning in ruins'.
The surge of ALPACA is not only a carnival in the spot market but also a meticulously designed contract hunt. Binance adjusted the funding rate cap to ±4% per hour, causing short sellers to bear funding costs as high as 96% daily. Data shows that in the past 4 hours, the proportion of ALPACA contract short liquidations reached 97%, far exceeding the total of mainstream currencies like BTC and ETH during the same period. This dual pressure of 'rate leverage' and price volatility forces shorts to become fuel in extreme market conditions, while Gate.io's leverage mechanism of up to 50 times provides stronger firepower for longs.
This phenomenon is not an isolated case. The 2022 LUNA crash left countless investors with significant losses, but ALPACA's comeback path is entirely different: its underlying protocol still has genuine business support (such as leveraged mining and stablecoin AUSD issuance), and the exchange's delisting has instead become a catalyst for liquidity contraction. This 'bad news can lead to good outcomes' reflexivity logic is a typical epitome of the irrational prosperity of the crypto market.
When mainstream exchanges shrink high-risk assets due to compliance pressures, Gate.io builds a unique survival advantage with the ecological logic of 'hotspots equal wealth'. Data shows that Gate.io currently supports over 3,800 tokens, with an average daily trading volume close to $3 billion, and the liquidity depth of its ALPACA/USDT trading pair even surpasses some mainstream currencies. More importantly, the platform launched a wealth management service with an annualized rate of 499.32%, turning speculative funds into an ecological moat and forming a closed loop of 'trading-wealth management-reinvestment'.
This strategy is closely tied to Gate.io's global layout. With a localization solution that combines machine translation and manual review, the platform supports 16 languages and covers over 22 million users, especially active in emerging markets like Southeast Asia. Compared to the 'elitist' approach of giants like Binance, Gate.io resembles a 'crypto bazaar'—where there are both the delisting frenzy of ALPACA and Meme coin mining pools with annualized returns exceeding 500%, becoming the ultimate battleground for retail investors chasing trends.
The madness of ALPACA will eventually come to an end, but the three rules it reveals are worth pondering:
For ordinary investors, rather than predicting ups and downs within complex rules, it is better to choose platforms like Gate.io that serve as 'hotspot radars'—not only providing the fastest new listing speed but also offering a full chain of tools from spot trading, contracts to wealth management, making every market upheaval a potential springboard for wealth reconstruction.
Related Reading: Surpassing Binance? The 'Long Tail Strategy' Behind Gate.io's Surge in Spot Trading Volume
