Ronaldinho Launches STAR10 Token Amid Insider Activity
Football legend Ronaldinho launches STAR10 token on BNB Chain, with reports of insider trading raising concerns.
- Ronaldinho launches STAR10 token on BNB Chain.
- Insider reportedly bought 20.79 million STAR10 for 48 BNB.
- The insider still holds over $4.93 million in STAR10 tokens.
Ronaldinho’s STAR10 Token Launch and Insider Concerns
Brazilian football icon Ronaldinho has officially launched his STAR10 token on the BNB Chain. While the project has generated excitement among fans and investors, on-chain analysis has raised concerns over potential insider activity.
Insider Buys Millions of STAR10 Tokens
According to blockchain analytics firm Onchain Lens, an insider wallet (0x4c…12e0) purchased 20.79 million STAR10 tokens for 48 BNB (approximately $29,300). Since then, the insider has only sold a small portion of the tokens and still holds a massive amount, currently valued at $4.93 million.
Former Brazilian football player @10Ronaldinho launched the STAR10 token on BNB Chain. Onchain Lens found that an insider: 0x4c…12e0 spent 48 BNB (about $29,300) to buy 20.79 million STAR10. Currently, the insider has sold a small amount of tokens and still holds tokens worth…
— Wu Blockchain (@WuBlockchain) March 3, 2025
Concerns Over Insider Trading
The presence of early insider purchases raises concerns about token distribution and potential price manipulation. If a few wallets control a significant portion of STAR10, this could lead to volatility and impact retail investors.
Ronaldinho has yet to comment on these findings, and it remains to be seen how the STAR10 token will perform in the long term. Investors are advised to exercise caution and conduct thorough research before engaging with newly launched tokens.
