Source: Cointelegraph
Original: “Delisting Leads to Surge? The Comeback Code of ALPACA and Gate.io's Crypto 'Survivor Oasis'”

When Binance announced it would delist ALPACA, the market predicted that this marginal token with a market cap of less than ten million dollars would face extinction. 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 "doomsday wheel" madness not only overturned the bearish logic of traditional finance but also exposed the deeper rules of liquidity migration and human behavior in the crypto market.

In traditional understanding, delisting from an exchange means a "death sentence" for a token, but ALPACA staged a "rebirth from death." After Binance's announcement, Gate.io became the only spot trading platform for ALPACA, and within three days, its trading volume surged from less than one 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 cap + high volatility" assets by speculators—only a few million dollars in funds can leverage dozens of times the increase, and Gate.io, with its tolerance for high-risk assets, became the final destination for this capital migration.

It is worth noting that ALPACA is not merely a concept hype. 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 in locked assets. Although the delisting incident raised market doubts about its fundamentals, the $168 million in 24-hour spot trading volume on Gate.io revealed the speculative capital's fervent belief in the logic of "striking gold in the 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 of up to 96% daily. Data shows that in the past four hours, the liquidation rate of ALPACA contract short positions reached 97%, far exceeding the total of mainstream coins like BTC and ETH during the same period. This dual pressure of "rate leverage" and price volatility forced shorts to become fuel in extreme market conditions, while Gate.io's leverage mechanism of up to 50 times provided stronger firepower for longs.

Such phenomena are not isolated cases. The collapse of LUNA in 2022 left countless investors with nothing, but ALPACA's comeback path is entirely different: its underlying protocol still has real business support (such as leveraged mining and the issuance of stablecoin AUSD), and the delisting from exchanges instead became a catalyst for liquidity contraction. This "bad news fully priced in becomes good news" reflexive logic is a typical reflection of the irrational prosperity in the crypto market.

As mainstream exchanges shrink high-risk assets due to compliance pressures, Gate.io has built 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 that of some mainstream coins. More critically, the platform launched a wealth management service with an annualized return of 499.32%, turning speculative funds into an ecological moat, forming a closed loop of "trading - wealth management - reinvestment."

This strategy is closely tied to Gate.io's global layout. Through a combination of machine translation and human review for localization, the platform has supported 16 languages, covering over 22 million users, and is particularly active in emerging markets like Southeast Asia. Compared to the "elitist" route 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 hotspots.

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 in complex rules, it is better to choose platforms like Gate.io that act as "hotspot radars"—where not only is there the fastest listing speed, but also a full chain of tools from spot trading, contracts to wealth management, allowing every market upheaval to potentially become a springboard for wealth reconstruction.

Related: Beyond Binance? The "Long Tail Strategy" Behind Gate.io's Surge in Spot Trading Volume

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