Family, there’s big news in the crypto world! ALPACA token has staged a crazy surge that’s simply jaw-dropping. After Binance announced it would delist its spot trading, instead of dropping, it seemed to have taken 'steroids' and skyrocketed, currently priced at $1.14, having increased over 20 times since the news broke, with a single-day increase reaching as high as 400%. This trend is just outrageous!
Binance's actions are also dramatic; while announcing the delisting of ALPACA's spot trading, they also adjusted the rules for its perpetual contracts. Now, the fee rate for Binance's perpetual contracts is as high as 2.8%, with the settlement period shortened to 1 hour, creating a tense atmosphere in the market. Moreover, Binance will also delist its perpetual contracts at 17:00 today. This series of actions seems to be 'fanning the flames' for this wild price fluctuation.
Everyone knows that when an exchange announces the delisting of a coin, the price usually plummets. But ALPACA is playing by its own rules; its surge has left short sellers in deep losses. The market speculates that there might be large funds manipulating the situation, going against the crowd's expectations and making a big profit. After all, ALPACA originally had a small market cap, so when some big funds enter to pump it, the price can easily rise.
This also serves as a reminder for us who are navigating the crypto world that changes happen too quickly, and we cannot just rely on surface news. Just like this time with ALPACA, who would have thought that being delisted by Binance would become the trigger for its surge? In the future, we must be more cautious when trading; you never know when those seemingly doomed coins might launch a counterattack and leave the market in shock!