Binance, Goplus Security (GPS) and Myshell (Shell) projects have carried out irregular transactions of the market maker (Market Maker). In order to protect its users, the stock market has removed this market maker from the platform and announced that the marketmaker will use the revenues of GPS and Shell users to meet the damages.

Market -making activities of Binance Projects Stopped

Binance, due to market manipulation due to the relevant market maker from the stock exchange forbidden to do any transaction. The stock market, GPS and Shell investors to protect the market maker’s earnings, said it will be used for the elimination of grievances. The compensation plan will be announced by the relevant projects.

Binance reminded that authorized market makers should comply with the following rules:

• Supporting market liquidity by entering purchase and sale orders,
• Ensuring sufficient order size at the specified depth levels,
• A healthy and stable price difference (SPREAD) Protection,
• Avoiding transactions that will disrupt the market with excessive order cancellation.

It was emphasized that market makers who do not comply with the rules will face more sanctions.

Shell price fell after the Binance statement

After Binance announced that a market maker removed from the platform due to market manipulation, Myshell (Shell) decreased. In the last 24 hours, Shell’s depreciation has approached 5 %.

According to the latest data, Shell price decreased by 3.07 %within 24 hours and started to be traded for $ 0.2672. After the Binance announcement, price fluctuations increased with market reaction. From a wider time period, Shell suffered a loss of 41.31 %in the last 30, 60 and 90 days. While the long -term decline trend continues, the latest developments are seen to put pressure on investor confidence.

Emphasis on transparency from Binance

Binance said that they would depend on the principle of transparency to ensure the long -term and sustainable growth of the crypto ecosystem. The Borsa announced that it will continue to take harsh measures against market violations to protect its investors.

As we have quoted as Kriptokoin.com, Binance now leaves the decision in the community vote during the listing process. Pi NWORK Token is currently one of the most important listing plans of the stock market.