Former Brazilian football star Ronaldinho has officially introduced his STAR10 token on BNB Chain, marking his entry into the Web3 world.
What is STAR10?
STAR10 is Ronaldinho’s official crypto token, blending football, Web3, and fan engagement. The token offers signed memorabilia and digital collectibles, exclusive VIP experiences, and community-driven initiatives.
Insider Trading Allegations
Following its launch, STAR10’s market cap soared to $300 million but quickly dropped to $200 million, raising suspicions. Blockchain analytics platforms reported suspicious transactions linked to the token, sparking speculation about market manipulation. For instance, an insider turned a $29,247 investment into a $4.94 million profit.
Trust Issues with STAR10
Ronaldinho has faced crypto-related scandals before, including the '18kRonaldinho' scam in 2023. These past controversies, coupled with the current allegations of manipulation, could undermine investor confidence. While STAR10 could offer unique fan engagement opportunities, investors should proceed with caution and monitor the project's transparency.
While STAR10 has the potential to revolutionize fan engagement through Web3, the early red flags cannot be ignored. Investors should proceed with caution and closely monitor the project’s transparency and execution.
