#whalesmarket

Key Takeaways:Binance has extended its Monitoring Tag to GoPlus Security (GPS) due to suspicious market-making behavior following its spot listing.A market maker offloaded 70 million GPS tokens between March 4 and March 5, 2025, while placing no buy orders, causing a significant price drop.The market maker earned approximately 5 million USDT, raising concerns about manipulative trading practices.Binance has temporarily suspended the market maker’s account and is conducting a follow-up investigation.GPS traders must now pass a risk quiz every 90 days to continue trading it on Binance Spot and Binance Margin.Why GPS Was Added to Binance’s Monitoring Tag ListBinance has flagged GoPlus Security (GPS) under its Monitoring Tag system, signaling higher volatility and risk for the token. The decision follows concerns over a mass sell-off by a market maker, who offloaded 70 million GPS tokens immediately after trading opened.Key irregularities include:The market maker placed no buy orders while aggressively selling GPS tokens.Continuous selling pressure led to a sharp decline in GPS price.The market maker’s Binance account has been suspended pending an investigation.“Tokens with the Monitoring Tag exhibit notably higher volatility and risks. These tokens are closely monitored and could be delisted if they fail to meet our listing criteria,” Binance stated in its announcement.