GoPlus Security’s native token, GPS, gained over 50% in value during the day, drawing close attention to on-chain movements and the positions of large investors. In particular, a large-scale token transfer, reportedly linked to OKX Ventures, fueled speculation that selling pressure might follow the surge.
According to on-chain data, OKX Ventures transferred 48.61 million GPS to Binance about an hour ago, worth approximately $750,000.
OKX Ventures is among the investors in GoPlus Security. It is stated that these tokens originated from key unlocks that occurred as part of the investment agreement.
The fact that the transfer was made to Binance also attracted attention. One of the main reasons for this is thought to be that GPS is not traded on the OKX spot market. However, while transfers to exchanges do not directly mean sales, they are monitored as an indicator of potential selling pressure in the market.
Another notable activity on the GPS side came from the wallet with the address 0x8B6E…c6a3.
The wallet in question reportedly accumulated GPS tokens on Binance and Bybit for the past two weeks, with no tokens withdrawn during this period. With the rise in GPS prices, the account’s unrealized profit is said to have exceeded $800,000.
In contrast, it appears that sales and distribution transactions are continuing from some wallets allegedly linked to the team.
Futures data also points to a divergence in the GPS market. According to the shared data, approximately 67% of large investors are in long positions, while 56% of individual investors are in short positions.
*This is not investment advice.
