Ronaldinho's STAR10 Token Reaches $300 Million Market Cap in First Day

Soccer legend Ronaldinho Gaúcho launched his own cryptocurrency on the BNB Chain Sunday. His STAR10 token joins a growing list of celebrity-backed digital assets in the crypto market.

The World Cup winner announced the token on social media platform X. "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," Ronaldinho wrote.

STAR10's market capitalization surged from a five-figure launch to approximately $250 million within hours. Early investors saw gains exceeding 50 times their initial investment. The token briefly sold off to $160 million before rebounding above $300 million.

The token now fluctuates between $200-250 million with over $40 million in trading volume. This performance stands out in a market wary of celebrity token launches.

Investor confidence remains fragile following recent high-profile failures. The collapse of Libra (LIBRA), a token endorsed by Argentine President Javier Milei, saw $4 billion in value evaporate after insider wallets withdrew $107 million in liquidity shortly after launch.

STAR10's tokenomics have drawn scrutiny from cybersecurity professionals. According to the token's website, 35% of the supply was allocated to insiders — 20% for Ronaldinho and 15% for the team. The token designates 5% of fees for social causes chosen by the community.

Blockchain analytics account @lookonchain reported that a wallet related to the team purchased over 12% of the supply (122 million STAR10) for $50,000. Data shows this wallet sold 1 million tokens for $270,000, while retaining holdings now valued at approximately $30 million.

Initial concerns arose when Web3 security firm GoPlus Security warned that the contract allowed its creator to burn tokens at will. The contract has since been renounced, eliminating this specific risk. However, the concentration of tokens in team-connected wallets continues to worry investors.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.