$ALPACA — this case is interesting to observe from the sidelines, but it's not worth participating in.

This case is an exception to the rules and does not lend itself to predictable analysis and logical behavior.

Chronology of events:

- Binance announced the delisting of the coin due to low quality.

- A few days later, ALPACA surged by 600%.

- After another 3 days, it fell by 81%.

- And 20 hours later, it surged again by 1750%.

(And all this — 2 days before delisting from spot and 5 hours before delisting from futures.)

Before removal from futures, the funding rate was 4%, which means:

- long positions were "stripped" due to the huge funding rate,

- and short positions — due to mass liquidations.

Why is this case an exception to the rules?

It is enough to recall the behavior of other coins before and after delisting, such as:

MDX, BURGER, KP3R, AMB, REN, IRIS, VITE, WRX, KEY, AKRO, HARD, PROS — and dozens of others.

All of them showed "death throes" at +100% / +200% for a few hours,

and then irrevocably collapsed by -99.9%.

The ALPACA case indeed stands out against the background of other coins that faced delisting,

but it is suitable only for insider trading.

Those who knew the inner workings of the project — profited.