Ronaldinho's token, STAR10, is facing near-total devaluation, while the former footballer is criticized for a lack of transparency and technical issues with his project.
Ronaldinho, one of the world's most famous soccer players, launched his STAR10 cryptocurrency in March of this year, promising a "bridge" to connect with his fan base in innovative ways. The STAR10 token launched on the BNB Chain blockchain and quickly reached a market capitalization close to $100 million. This was achieved in less than 12 hours, according to market data, sparking significant interest among users in the crypto world.
Trade trusted cryptocurrencies – buy bitcoin at Bit2MeFrom boom to bust: The STAR10 token roller coaster
Upon its debut, STAR10 managed to generate quick profits for some investors who rushed in amid the frenzy surrounding its launch. However, hours later, suffered a sharp fall, losing nearly 97% of its value and leaving thousands of investors with significant losses. Market data shows that STAR10 went from trading at $0,334 per token on March 3 to less than $0,047 within 48 hours.
On the other hand, although its price recently reached $0,00038 per token, its value fell sharply again within a few hours and It remains quoted at around $0,00020 dollars. This current value of STAR10 continues to show a near-total loss from its all-time high recorded in early March, with the price falling 99,4% since then.
Source: CoinMarketCap
In addition, trading volume and market capitalization have also suffered a significant impact, with reports of dramatic drops in the project's overall valuation, leaving thousands of investors with losses and generating an environment of uncertainty and scrutiny, including for possible fraudulent practices. insider trading.
The signs that anticipated the fall of the token
Experts point out that Ronaldinho's cryptocurrency project generated multiple warning signs since its launch, which predicted its abrupt fall. The token allocated 35% of the total supply to insiders, including 20% for Ronaldinho and 15% for the team, which raised suspicions of possible manipulation and insider trading.
Additionally, some internal wallets were found to have sold tokens shortly after launch, while others added liquidity, contributing to extreme price volatility.
BUY SOLANA FAST AND SAFELY WITH BIT2MEAll of this, coupled with the lack of clear and transparent communication from the team behind the project, contributed to its collapse. Experts also point to technical problems in the token's smart contract as a factor in its downfall. Blockchain analysts discovered serious vulnerabilities that put users' funds at direct risk. For example, there was a possibility that developers could withdraw or "burn" tokens from any holder without prior notice, violating the minimum security expected for this type of digital asset. This technical weakness significantly affected the token's value and generated a domino effect of distrust in the community.
The bridge to Solana and exclusive privileges do not stop the fall
Aware of the problems and the declining price of STAR10, the token's development team has attempted various strategies to regain trust and lost value. One such initiative was to create a bridge to the Solana blockchain, known for its fast speed and low transaction costs, seeking to expand the token's reach to more users and networks. Additionally, an official token-linked store was launched, promising that STAR10 holders could enjoy certain privileges and exclusive products.
However, these initiatives came too late and have failed to stem the decline. The combination of crypto market volatility, technical issues, and the lack of a functioning ecosystem are weighing heavily. The bridge to Solana was not yet operational at the time of writing, and the store appears to be insufficient to generate a real impact that would consolidate user confidence.
The project's developers have also announced the launch of a Solana-based memecoin as part of efforts to revive community interest in STAR10.
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Ronaldinho under the scrutiny of crypto investors
The collapse of the STAR10 token not only dealt a severe financial blow to thousands of investors, but also tarnished Ronaldinho's reputation in the cryptocurrency spaceSTAR10 has become the epicenter of a controversy that goes beyond the typical volatility of the crypto market, raising alarms about the risks of associating celebrities with digital investments without the necessary transparency and technical support.
For the market, this development is further proof that the mere endorsement of a public figure does not guarantee success or security.
STAR10 provides an example of how fame can be used to attract investors, but without a solid and reliable ecosystem, trust quickly fades. Furthermore, reports suggesting that Ronaldinho may have breached multimillion-dollar contracts and that the token was involved in suspicious market movements, including possible "pump and dump" practices that artificially inflated its price and then collapsed, continue to undermine the trust of its followers.
Use your cryptocurrencies safely and easily – BIT2ME CARDIn short, Ronaldinho attempted to capitalize on his sporting legacy in the digital world, but the lack of adequate support has resulted in significant damage to his image and to the investors who trusted his project. And trust, once lost, is difficult to regain, especially in the crypto market, where investor protection must be the top priority.
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