Binance, the largest cryptocurrency exchange in the world, has announced that it will delist four tokens. These tokens include Alpaca Finance (ALPACA), PlayDapp (PDA), Wing Finance (WING), and Viberate (VIB). PDA, WING, and VIB have seen significant declines in value following the announcement. However, ALPACA has gone against the trend, spiking despite being set to be removed from the platform.

Binance Delists ALPACA, PDA, WING, and VIB

According to the official announcement, the delisting will take effect on May 2 at 03:00 UTC. After May 3, users will no longer be able to deposit these tokens.

Moreover, withdrawals will not be available after July 4. Finally, open positions in Binance Futures related to this token will close on April 30.

This decision aligns with Binance's periodic review process, evaluating tokens based on factors such as volume, liquidity, project team activity, compliance with legal requirements, etc. The exchange stated that these tokens did not meet the mandatory criteria, leading to their removal.

"When a coin or token no longer meets these standards or the industry context changes, we will conduct a deeper assessment and may delist. Our priority is to ensure the best services and protections for users while continuing to adapt to changing market dynamics," Binance noted.

This move comes right after Binance concluded the second round of the "Vote to Delist" campaign. 8.2% of the total votes supported the delisting of PDA. Meanwhile, ALPACA came in second with 6.3% of the votes, and WING garnered 3.8%. VIB was not among the 17 tokens voted on by the community.

Interestingly, although FTX Token (FTT) led the voting with 11.1%, Binance removed FTX Token from the latest list of tokens that will be delisted from the platform.

The rise of ALPACA in the context of Binance delisting raises concerns.

Following the news, PDA, WING, and VIB dropped sharply by double digits. BeInCrypto data shows that WING experienced the largest decrease. The token lost 31.8% of its value. VIB closely followed with a 29.7% drop. Additionally, the value of PDA decreased by 17.0%.

However, right after the announcement, the price of ALPACA surged by 71.3%. Furthermore, its trading volume increased by 417.2%. This increase is not typical for a token about to be delisted, raising concerns.

In most cases, delisting announcements will cause significant price drops, as seen in previous cases.

In the latest post on X (formerly Twitter), an analyst highlighted ALPACA's unusual reaction, which he suggested might have been manipulated.

"ALPACA after a major sell-off has shown a tremendous squeeze. It rose over 100%; liquidating some large short sellers, heavily manipulated there," the post stated.

The analyst advised users to be cautious and avoid falling into potential "exit scam" traps, where prices are artificially inflated for the benefit of manipulators at the expense of unsuspecting investors.