Binance Adds Observation Tag to GoPlus Security (GPS)
This decision stems from the significant price drop of the token after its spot listing, as well as unusual market behavior from a market maker.
The announcement indicates that this market maker sold approximately 70 million GPS tokens from March 4 to 5, and did not place any buy orders during this period. As the largest beneficiary, this market maker made a total profit of around 5 million USDT. Binance has temporarily frozen this market maker's account and is conducting an in-depth investigation.
Binance reminds users that tokens with observation tags may have higher volatility and risks, no longer meet the platform's token standards, and may be delisted. Users must pass a risk assessment every 90 days and accept the terms of use to gain permission to trade such tokens.
