GPS went live on Binance yesterday and dropped by about 50%. Currently, there is quite a bit of FUD, and as someone who started promoting it early with $GPS , many fans are asking me if I still have faith in it, so I feel it's necessary to respond today.
First, the conclusion: I remain optimistic because I support projects with real users. The project team and Binance are aware of the large chip sell-off incident, and I will share results as soon as I have them.
Since my wallet was hacked in 2022, I have been paying attention to on-chain security products for end-users. I have tried countless products in between until GPS appeared. Every week, Goplus scans my wallet for vulnerabilities and sends diagnostic reports through a TG bot, which is very useful for someone like me who doesn't check the chain daily. Currently, GoPlus has surpassed 28 million total users, with 273k monthly active users, an increase of 314%.
Many friends who trade cryptocurrencies might want to ask themselves: the altcoins you hold, are you really using their products? I dare say I am using all the ones I heavily invest in. If you are heavily invested in a coin you don't understand, I've always said you shouldn't buy it, because you won't hold onto it. I dare say that among those who sold off GPS today, 99% have not used their products.
Secondly, GPS had its TGE back on January 16; you don't have to wait for a Binance announcement to buy, right? When I was promoting it in January, no one paid attention. It rose to 1.3, and many rushed in, and now they tell me it has halved. Just yesterday in a live stream, someone mentioned shorting it upon launch. I observed the funding rate, which at one point reached -1% during the launch, indicating that shorting it upon landing on Binance has become a consensus among everyone... I mentioned a long time ago that this is an issue of passive market-making, which has no short-term solution.
The lesson here is that in the future, if you are optimistic about a project, you may need to buy in earlier to achieve good returns.