GPS, the GoPlus Security native token, is making its Binance debut with an airdrop event prior to its listing. The token has surged more than 15% since its listing announcement.
On March 4, Binance announced it will be distributing GoPlus Security tokens to its BNB (BNB) users one hour before the token’s listing on the exchange platform. The token will be available for trading on March 4 at 13:00 UTC. For GoPlus’ token, Binance will provide open trading for USDT (USDT), USDC (USDC), BNB, FDUSD (FDUSD), and TRY pairs
Binance users who have BNB subscribed to Simple Earn and/or On-Chain Yields products from Feb. 19 until Feb. 24 will receive GPS tokens from the Binance airdrop event.
Shortly after Binance announced its listing, the GoPlus Security token price spiked as high as 15% to $0.16, according to CoinGecko. The last time GPS has reached beyond $0.16 was in February. In the past week the token has gone up by nearly 18%, but in the past month the token has been on a decline streak of 16%.
At press time, the token has gone up 11% and is trading hands at $0.14.
Since its launch on Jan. 16, GoPlus’ native token has accumulated a market cap of over $264 million and a fully diluted valuation of $1.4 billion. The Binance listing also added a significant boost to its daily trading volume. In the past 24 hours, GPS trading volume has gone up by nearly 410% to more than $35 million.
According to the notice, Binance will be adding a seed tag to GPS. The exchange usually applies seed tags to fairly new projects to inform users of the token’s potentially higher trading risk compared to more established tokens. GPS will be available for trading on the Base (BASE) network.
GoPlus Security is a web3 encrypted security project, offering users real-time token security auditing and decentralized data solutions. Its native token, GPS, is designed to be a utility token, enabling users to receive incentives for safeguarding the network by staking GPS to run security nodes or provide security data.
A day before the Binance listing announcement, former Binance chief Changpeng “CZ” Zhao shared a post by GoPlus Security warning users about the “serious security risks” of trading Ronaldinho’s newly launched STAR10 token, available on the Binance Smart Chain.
