ALPACA Experiences Significant Price Drop Amid Market Volatility

According to BlockBeats, ALPACA experienced a sharp decline of 53% earlier today, with its current price at $0.1781. Data from Coinglass reveals that in the past 12 hours, ALPACA faced liquidations totaling $5.89 million across the network. This includes $2.05 million in long positions and $3.84 million in short positions. During the same period, Bitcoin (BTC) liquidations amounted to $7.11 million. The funding rate for ALPACA contracts on major centralized exchanges (CEX) continues to indicate a bearish market sentiment. The total open interest for ALPACA contracts stands at $47.21 million, while the 24-hour trading volume for ALPACA contracts across the network reached $3.188 billion.