Former Brazilian football star Ronaldinho has officially launched his STAR10 token on the BNB Chain, marking his entry into the Web3 world. While the project promises unique fan features, it is surrounded by controversy over its integrity.
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, AI-powered insights for fans, and community-driven initiatives. Ronaldinho emphasized that STAR10 is not a typical meme coin but a long-term vision designed to provide real-world value.
Insider Trading Allegations
Following its launch, STAR10’s market cap skyrocketed to $300 million and then quickly dropped, raising concerns among investors. Blockchain analytics platforms, including Onchain Lens and Lookonchain, reported suspicious transactions linked to the token. The data reveals that an insider closely linked to Ronaldinho turned a $29,247 investment into a $4.94 million profit. Price manipulation was conducted through high-value transactions.
Risks and Opportunities for Investors
Ronaldinho has previously been caught up in crypto-related controversies. In 2023, his name was linked to the '18kRonaldinho' scam. Despite denying involvement, the incident damaged his credibility in the blockchain community. Meme coins gained popularity in 2024, but many of them were scams. Given Ronaldinho’s past controversies and the insider trading allegations surrounding STAR10, investor confidence could be fragile.
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.
