On March 23, 2025, GoPlus Security announced its plans for a buyback of GPS tokens following the transfer of $4.34 million in frozen funds with Binance's support.
GoPlus and Binance Unveil $4.34 Million Buyback Plan
GoPlus Security has announced the buyback of GPS tokens in collaboration with Binance to stabilize the market after the token's price dropped more than 65% upon its debut. Weekly updates on the buyback process are anticipated, contributing to increased transparency.
Expert Views on Potential GPS Token Stabilization
According to CoinMarketCap, GoPlus Security's GPS token is currently valued at $0.04 and has seen a 38.17% decline over the past 90 days. Its market cap is $65.00 million, with trading volume increasing by 31.10% over the past 24 hours to $28.92 million. Experts suggest that the successful implementation of the buyback could stabilize the token's price, but only if trust in the market is restored.
Market Reactions and Outlook
Market reactions to the buyback are mixed, with some viewing this as a necessary step while others remain cautious. Company statements highlighted the intent to improve the volatility observed since the token's launch. Historical data suggests that volatility might persist unless regulatory frameworks solidify the market.
The buyback of GPS tokens represents a significant step towards market recovery, but its success depends on regaining investor trust and stabilizing regulatory settings.
