
土澳大狮兄BroLeon|Mar 07, 2025 10:28
At least part of the truth behind the GPS tragedy has been uncovered, and the abnormal selling pressure on GPS that day was caused by one of the market makers.
Although 5 million dollars is not the sole reason for the day's decline, it certainly contributed to the situation, as GPS trading volume on that day was several times higher than 5 million dollars. But this market maker did not provide the depth of the market that MM should normally provide, instead, it continued to make profits by smashing the market. Whether it's "active market making" or other considerations, before the profitable U is repurchased into GPS, such a MM performs no differently from other big sellers.
I agree that Binance should freeze profits before things become clear, and not let them escape. I also want to commend @ Binance for starting to face some obvious abnormal performances, combined with the suspension of Red last night, which can be considered as more actively protecting the market and users. Even though the suspension of Red's listing caused me to lose money, at least some people will not dare to act so recklessly in the future.
@I think it's a bit unfair that GoPlusSecurity has been added with an "observation tag". The team has always been reliable and different from many poorly observed projects in the past. The biggest problem was the supernatural crash that day, but I still feel that there are other forces at play.
For example, a few minutes before the announcement of "Observation" on Binance today, a huge number of short positions suddenly appeared in the market, and someone predicted it ahead? I hope @ heyibintance and Binance friends can continue to take a look at this kind of mouse warehouse.
Actually, now I think GPS should have a bit of a bottom meaning. At present, the profit margin of this market maker is likely to be bought as chips, otherwise it may be named and everyone will stay away.
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