Binance blocked the market makers of two tokens
The cryptocurrency exchange Binance has blocked the market maker servicing the GoPlus Security (GPS) and MyShell (SHELL) projects after violations were discovered in its activity. This was reported by the platform's press service.
The corresponding actions were taken due to manipulations with orders or liquidity. To protect clients, Binance banned the market maker from operating on the exchange and confiscated its funds, which will be directed towards compensating affected GPS and SHELL users.
Market makers are organizations that place buy and sell orders to ensure continuous trading and reduce the volatility of cryptocurrency prices.
After the organizations were blocked, the price of GPS fell by 8%, reaching $0.03962. In turn, SHELL quickly recovered from the drop and rose by 10% to $0.2990.
