GoPlus Security responds to GPS token’s 60% plunge as Binance points to market makers

The web security company, Goplus Security, launched an investigation after its token lost 60% in a single day, noting that he was not informed of the list beforehand.

Goplus Security (GPS)), a web 3 company that says that it works on the “first decentralized safety layer”, is a survey, a price drop in its indigenous GPS token, which suddenly lost more than 65% of its value following the registration on the cryptocurrency exchange.

In a thread x On March 7, the firm refused rumors of landfill, adding that it was not informed in advance on the list, which took place on March 4. According to Goplus Security, the team only learned from the list when the public announcement was made. In response to the drop in prices, which saw the value of the token plunging more than half within 24 hours, the company trained an investigation team to explore the cause of fluctuations.

“Everything happened quickly, and our team only learned from the list only when the public announcement was made, after which we immediately worked to cooperate with Binance to facilitate any additional requirement on our side.”

Goplus security

The native token of Goplus Security, GPS, is designed to be a utility token, allowing users to receive incentives for the backup of the network by punctuating GPS to execute security nodes or provide security data, as Crypto.News explained it previously.

In addition to launching his investigation, Goplus Security also revealed that on the day of the list, he had transferred 500 million GPS tokens to Binance, 300 million of which have already been distributed in rewards for the BNB Hodler program in Binance. The remaining 200 million tokens will be used for future marketing efforts, the firm said.

After lower prices, Binance said It would extend the surveillance label to include GPS due to a “significant drop in prices after the occasional list and certain manufacturers of the market market manufacturers”.

Goplus Security assured the public that he was investigating the problem with Binance and will provide other updates as more information becomes available. At the time of the press, GPS is negotiated at $ 0.061, according to data from cryptographic price aggregators.