The price of Stargate Finance’s token, $STG, skyrocketed by 69.53% in just two hours following its listing on Upbit, South Korea’s largest cryptocurrency exchange.
This surge was fueled by the introduction of the STG/KRW trading pair, which significantly boosted investor interest and trading activity.
With this substantial price increase, Wallet 0x22d, likely belonging to an investor, deposited 10.25 million STG tokens, valued at $8.8 million, to Binance at a price of $0.859 per token.
Notably, these tokens were initially received from the Stargate: Team and Investors Vesting Multisig on April 9, 2024, when the token price was $0.792, amounting to $8.12 million at that time.
The $STG price soared by 73% after #Upbit listed the STG/KRW pair today!
A wallet (likely investor) took the chance to unload 10.25M $STG ($8.8M) to #Binance.
Notably, these tokens were vested from @StargateFinance on April 9, 2024, when the price was $0.792 ($8.12M).
Follow… pic.twitter.com/rqwaigyNtJ
— Spot On Chain (@spotonchain) May 30, 2024
Stargate Finance Trading Volume Hits 2,700% Increase As A Result
The trading volume for Stargate Finance has seen a remarkable surge, increasing by 2700% in the past 24 hours. This dramatic rise underscores the impact of the new listing and the heightened trading activity it has spurred.
This investor’s move highlights the significant profit potential within the volatile cryptocurrency market, especially when timely actions are taken in response to favorable market conditions.
The rapid appreciation of $STG and the strategic actions of investors like the owner of Wallet 0x22d exemplify the dynamic nature of crypto investments and the substantial gains that can be achieved through strategic timing and market awareness.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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