SoSo Daily Mar 9 | Binance Takes Action Against Misconduct by Market Makers in GPS and SHELL

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 17:50 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Neiro on ETH. As of 17:50 today, its market cap is 416.52K, with a coin price of 0.00041652 USD, witnessing a 24-hour increase of 435%.
The second is Metronome. As of 17:50 today, its coin price is 0.79500 USD, with a 24-hour increase of 355%.
The third is SuperRare. As of 17:50 today, its coin price is 0.080900 USD, showing a 24-hour increase of 68.9%.
In fourth place is Omega Network. As of 17:50 today, its coin price is 0.00033540 USD, with a 24-hour rise of 60.8%.
In fifth place is ChainX. As of 17:50 today, its coin price is 0.058650 USD, increasing by 27.7% over the last 24 hours.




Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to Wu, Binance announced that after investigating the misconduct of GoPlus Security (GPS) as a market maker, it found that this market maker was also responsible for market making for the MyShell (SHELL) project. To protect users, Binance has delisted this market maker and prohibited it from further market-making activities on the platform. Furthermore, Binance has confiscated its related earnings and plans to use them to compensate users of the GPS and SHELL projects.

Next news:
Next news:Bitcoin falls below 85,000 USDT
Next news:

According to Foresight News, monitoring by OnchainLens shows that a certain whale address has pledged 5,472.8 $ETH (worth approximately $11.92 million) on Compound, which is facing liquidation risk. The current health factor is 1.17, and the liquidation price is $1,863. This whale staked these $ETH 8 to 9 months ago when they were worth around $18.47 million. Compared to the price of $ETH 8 to 9 months ago, this whale has already incurred a loss of approximately $6.65 million.

According to Foresight News, monitoring by OnchainLens shows that a certain whale address has pledged 5,472.8 $ETH (worth approximately $11.92 million) on Compound, which is facing liquidation risk. The current health factor is 1.17, and the liquidation price is $1,863. This whale staked these $ETH 8 to 9 months ago when they were worth around $18.47 million. Compared to the price of $ETH 8 to 9 months ago, this whale has already incurred a loss of approximately $6.65 million.

Next news:

According to Wu, Meow, co-founder of Jupiter, tweeted that they will launch a new token verification system that allows the community to play a key role in the verification process. Previously, the team focused on a data-driven algorithmic system to address a significant amount of feedback regarding automated verification. After substantial improvements over the past few weeks, the system has now matured and entered the next phase.

Next news:

According to a report from 深潮 TechFlow on March 9, analysis by Ai Yi indicates that TradingView data shows Bitcoin's market dominance (BTC.D) currently stands at 61.25%. It has remained above 60% since returning on February 2, lasting over a month, during which altcoins have underperformed, the popularity of meme coins has declined, and newly launched coins are facing price collapses, leading to an overall low market sentiment.

Historically, after Bitcoin's market dominance surpassed 60% in November last year, altcoins entered a brief bull market. In both 2019 and 2021, Bitcoin's market dominance reached highs of 70%, after which the market experienced significant upward trends.

Next news:

According to Wu, the Myriad Foundation, established by Decrypt and its affiliated company MYRIAD, announced that it will launch the token MYR in 2025. This token will be adopted by multiple projects including MYRIAD, Decrypt Media, Rug Radio, Lucky Trader, and Degenz NFT.

Next news:Wu Shuo learned that the blockchain data platform Bubblemaps posted on X, hinting that its token BMT will be launched on March 11. Previously, Bubblemaps officially announced the issuance of the platform token BMT, with a total supply of 1 billion tokens, which will be issued on the Solana network. https://t.co/cqL7V8fvcY
Next news:

According to Foresight News, Zhao Changpeng retweeted a disclosure tweet from Kuai Dong (@_FORAB) regarding the market maker Web3Port. The tweet stated, "The GoPlus and Myshell incidents have uncovered a complete arbitrage pipeline established by May Liu (Piaopiao) and her team, which goes from Spark Digital Capital to Web3Port, and then to Whisper. Initially, Spark operated in the name of a VC, but actually relied on off-market outsourcing + FA business, allowing VCs to invest in projects while obtaining free tokens for themselves. After the industry became overly saturated in 2021 and 2022, project parties were no longer willing to give tokens for free, prompting them to shift to an incubator model and establish Web3Port, which provides project packaging and VC connections in exchange for 1-3% of tokens. However, relying solely on the incubator model was insufficient for monetization, leading to the creation of the market maker Whisper, which, under the guise of market-making, actually created a sales window for their free tokens. Ultimately, this system became a complete pipeline from packaging financing to exit, with retail investors on Binance becoming the ones ultimately footing the bill."

Next news:

According to Deep Tide TechFlow, on March 9, multiple important economic data will be released next week, with the U.S. February CPI data receiving the most market attention. On Wednesday, the U.S. will announce the unadjusted year-on-year CPI for February, the seasonally adjusted month-on-month CPI, the seasonally adjusted core CPI month-on-month, and the unadjusted core CPI year-on-year. These data will directly impact the Federal Reserve's policy decisions at the meeting on March 18-19.

In addition, this week, U.S. President Trump will meet with U.S. tech leaders, including executives from companies such as HP, Intel, IBM, and Qualcomm, as well as important events like the Bank of Canada's interest rate decision and a speech by European Central Bank President Lagarde.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.