Binance Adds Monitoring Tag to GoPlus Security (GPS)
Binance places GoPlus Security (GPS) under monitoring due to post-listing price drop and suspicious market-making activities.
- Binance extends Monitoring Tag to GPS after an immediate price drop.
- Market Maker continuously sold tokens post-listing, raising concerns.
- Binance temporarily suspends the Market Maker’s account.
Binance has announced an update to its Monitoring Tag list, extending it to include GoPlus Security (GPS) as of March 7, 2025. This move follows a notable price drop immediately after GPS was listed on the platform and suspicious Market-making activities that caught Binance’s attention. The decision highlights Binance’s commitment to maintaining a fair trading environment for all users.
Irregular Market Making Activities Detected
According to Binance, the Market Maker associated with GPS engaged in continuous selling right after spot trading commenced. This activity contributed to a rapid decline in the token’s price, raising concerns about potential market manipulation. In response, Binance took swift action and temporarily suspended the Market Maker’s account to investigate the situation further.
Binance will extend the Monitoring Tag to include GoPlus Security (GPS) on 2025-03-07 due to a significant price drop immediately following the spot listing and certain market making behavior. Tokens were continuously sold by the Market Maker right after spot trading opened. The…
— Wu Blockchain (@WuBlockchain) March 7, 2025
Ensuring Market Integrity
The Monitoring Tag system is designed to warn investors about tokens that exhibit abnormal trading behavior, low liquidity, or compliance risks. Tokens placed under this tag are subjected to regular reviews, and users are advised to conduct thorough research before trading them. Binance emphasized that it will continue to enforce strict measures against any manipulative trading practices to safeguard its ecosystem.
