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- GoPlus Security announces GPS token buyback with Binance collaboration.
- Token value recovery effort after significant price drop.
- Buyback aims to improve market health and transparency.
GoPlus Security announced on March 23, 2025, its initiative to buy back GPS tokens following the transfer of $4.34 million in frozen funds, facilitated by Binance.
This move aims to stabilize the market after the GPS token dropped over 65% on its Binance debut. Weekly updates will share buyback activities, enhancing transparency.
GoPlus and Binance Unveil $4.34 Million Buyback Plan
“We will use these funds to repurchase GPS tokens according to the remediation plan to support the healthy development of the market. We promise that the buyback process will be transparent, with weekly updates on buyback activities, and all repurchased GPS will be transferred to a burn address,” stated a GoPlus Security Spokesperson. The operation aims to mitigate a drastic decline in the token’s value, following its steep fall post-listing. The process will involve transparently monitoring on-chain transactions with community access for oversight.
The intention behind the buyback is to support the market by permanently removing repurchased tokens. All tokens acquired will be transferred to a burn address, ensuring their removal from circulation. The market will be informed weekly, fostering a commitment to market health and transparency.
Market reactions have been mixed, with some seeing this as a necessary step while others remain cautious. Company statements highlighted the intent to improve the volatility experienced since the token’s launch.
Expert Views on Potential GPS Token Stabilization
GoPlus Security’s GPS token, currently traded at $0.04, has seen a 90-day decline of 38.17% according to CoinMarketCap. Its market cap stands at $65.00 million, with a trading volume of $28.92 million, increasing by 31.10% in the past 24 hours. With a circulating supply of 1.81 billion tokens, the plan attempts to correct a 73.48% decline over 30 days.
Experts forecast that successful buyback implementation might stabilize the token’s value but only if market trust is regained. Historical data suggests that volatility could persist unless regulatory frameworks solidify the market’s structure, positioning collaboration with exchanges as a critical factor.
