Stakestone (STO) captured the market's attention by surging 755% in just two days. However, on-chain data raises more questions about "massive volume movements" than the reasons behind the rise.
According to on-chain analyst LookOnChain, a newly created wallet (0x5e2E) deposited approximately 28 million STOs, worth about $10.12 million (about 15.2 billion KRW), into the Gate exchange in a single transaction. This represents 12.43% of the total circulating supply. This move occurred immediately after 25.5 million STOs (about $4.85 million, about 7.3 billion KRW) were withdrawn from Binance over the previous 20 hours.
This effectively means that a massive volume of tokens was reallocated between major exchanges in less than a day. While such patterns are generally interpreted as "pre-distribution settlements" or "liquidity shifts," it is difficult to conclude either based solely on the current data. What is clear is that the surge in Stakestone (STO) tokens was not an isolated event, but rather coincided with the trend of increased altcoin volatility amidst recent heightened geopolitical tensions.
Log in to TokenPost and read the remaining content.
You can enjoy all of TokenPost's free content.
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
