- Ronaldinho launched $STAR10 token on BNB Chain
- Insiders received 35% of the token supply, with 15% going to the team and 20% going to Ronaldinho
- Lookonchain, a crypto analytics firm, alleged that insider buying and selling plagued the $STAR10
On March 2, football legend Ronaldinho Gaúcho became the latest public figure to launch their crypto token. Ronaldinho joined a list of public figures and celebrities who launched their meme coins with the $STAR10 token on BNB Chain.
Announcing the launch of the STAR10 token on X, formerly Twitter, Ronaldinho said, “My new one and ONLY OFFICIAL token is HERE! It’s time to celebrate greatness, passion, and that legendary spirit that NEVER fades 😎Legends are not born… THEY ARE FORGED. And YOU can choose to be a part of it. Get your $STAR10 NOW. Let’s make history together!”
The soccer legend added, “This isn’t just a token — it’s a legacy in the making. $STAR10 is taking it beyond the game and into the future. Designed for those who dream big, holding this token grants you exclusive experiences, real benefits, signed collectibles, and even my own AI Agent—built for those who want to be part of history. Legends don’t fade. They inspire. They build. They leave a mark.”
The token was well received, but not long after, optimism dissipated, and accusations of insider trading began to haunt it. It quickly began with a five-figure market cap and swiftly rose to about $250 million, giving investors who got in early enough to witness the launch gains of more than 50 times.
After a brief sell-off, STAR10's market capitalization dropped to about $160 million before rising above $300 million. With a volume of over $40 million, it was earlier trading between $200 and $250 million, which is an incredible accomplishment for a token that has not even been operational for a full day.
However, according to Coinmarketcap data, at the time of writing, the token had crashed by 38.5% compared to the preceding day. It was trading at $0.2071, 45.95% off the all-time high of $0.3964 it recorded after its launch. The token has garnered a verified market capitalization of $18.02 million, and the 24-hour trading volume has reached $58.55 million.
$STAR10 tokenomics and inside trading allegations
Some people are skeptical about the tokenomics of Ronaldinho's STAR10 token. Since its launch, several cybersecurity experts have expressed their concerns.
Investors had some concerns about the tokenomics of the Star10 meme coin. According to the token’s website, insiders received 35% of the token supply, with 15% going to the team and 20% going to Ronaldinho. Five percent of Star10 fees will go to charitable causes selected by the token's community as part of its tokenomics.
Lookonchain, a crypto analytics firm, alleged that insider buying and selling plagued the $STAR10. In a post on X, it alleged that a team wallet paid $50,000 for over 12% (122 million STAR10) of the supply and provided blockchain data that shows that the wallet has made $270,000 from the sale of one million STAR10 tokens.
Binance executive names Nigerian lawmakers who demanded $150M crypto bribe
Meanwhile, TheRadar earlier reported that the name Tigran Gambaryan rings a bell not just in the crypto space but now in Nigeria and the diplomatic corridors of the United States and the West African country.
Mr Gambaryan became popular in Nigeria’s crypto, news and diplomatic circles for his ordeal in the hands of the country’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC). For several months last year, Mr Gambaryan was arrested and imprisoned in the country in cases of tax evasion and money laundering that have now been quashed. TheRadar followed the events from his arrest to several court appearances, his eventual release, and the controversies that followed.
