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$SHELL $GPS (According to some internal information)
Important Update: Binance Restricts Buying, Only Opens Selling for SHELL & GPS – An Opportunity for Investors to Cut Losses?
Binance Closes One-Way Buying for SHELL & GPS
Recently, Binance announced an important update regarding two cryptocurrencies, MyShell (SHELL) and GoPlus Security (GPS). Accordingly, Binance will temporarily suspend the ability to buy these two coins, only opening sell orders for investors holding (HODL).
This move comes after the exchange detected unusual activities of a Market Maker associated with both projects. Binance has removed this Market Maker from the platform and retrieved the funds obtained from opaque activities to compensate users.
Will Binance “Pump” the Price of SHELL & GPS to Help Investors Offload Losses?
According to some internal information, Binance may conduct a price pump to a necessary level to give investors the opportunity to sell and cut losses instead of being stuck. This means that those holding SHELL & GPS need to closely monitor the price in the coming days to make reasonable exit decisions.
What Do Investors Need to Do?
1. Closely monitor the price of SHELL & GPS on Binance. If there are signs of a price pump, it may be an opportunity to take losses.
2. Wait for detailed announcements from Binance regarding the compensation plan.
Conclusion
This is a rare move by Binance as they directly intervene in the market to protect investors against the price manipulation behaviors of Market Makers. If you are holding SHELL or GPS, keep a close watch on the market in the coming days to make the best decision.
Important Update: Binance Restricts Buying, Only Opens Selling for SHELL & GPS – An Opportunity for Investors to Cut Losses?
Binance Closes One-Way Buying for SHELL & GPS
Recently, Binance announced an important update regarding two cryptocurrencies, MyShell (SHELL) and GoPlus Security (GPS). Accordingly, Binance will temporarily suspend the ability to buy these two coins, only opening sell orders for investors holding (HODL).
This move comes after the exchange detected unusual activities of a Market Maker associated with both projects. Binance has removed this Market Maker from the platform and retrieved the funds obtained from opaque activities to compensate users.
Will Binance “Pump” the Price of SHELL & GPS to Help Investors Offload Losses?
According to some internal information, Binance may conduct a price pump to a necessary level to give investors the opportunity to sell and cut losses instead of being stuck. This means that those holding SHELL & GPS need to closely monitor the price in the coming days to make reasonable exit decisions.
What Do Investors Need to Do?
1. Closely monitor the price of SHELL & GPS on Binance. If there are signs of a price pump, it may be an opportunity to take losses.
2. Wait for detailed announcements from Binance regarding the compensation plan.
Conclusion
This is a rare move by Binance as they directly intervene in the market to protect investors against the price manipulation behaviors of Market Makers. If you are holding SHELL or GPS, keep a close watch on the market in the coming days to make the best decision.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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