OKX Ventures moves 48.611 million GPS to Binance after token jumps over 50%

GPS rose more than 50% on the day before OKX Ventures transferred 48.611 million tokens, worth about $750,000, to Binance roughly an hour later. The tokens were said to come from unlocked investment allocations, and the move drew attention because transfers to exchanges are often watched for possible selling pressure even though they do not necessarily indicate an imminent sale. GPS is not traded on the OKX spot market, which may explain why the tokens were sent to Binance. Separate on-chain activity showed a wallet identified as 0x8B6E…c6a3 accumulating GPS on Binance and Bybit over the past two weeks without withdrawing tokens, with unrealized profit reportedly exceeding $800,000 after the price rally. At the same time, some wallets allegedly linked to the team appeared to be continuing sales and distribution, while futures data showed about 67% of large investors in long positions and 56% of individual investors in short positions.

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