Cryptocurrency

STG price surges 45%, insider trading suspected

According to Lookonchain, four wallets bought Stargate Finance (STG) tokens before recording a 45% increase on Jan. 22 and sold all of their holdings shortly thereafter.

Overall, investors spent $131,462 to buy 266,200 STG tokens and sold them all for $181,416, making a total profit of $49,954.

transaction

Address “0x6127” exhaustion 20,000 USD Coins (USDC) purchased 40,498 STG at 02:40 UTC on January 22nd.About 8 hours later, the address sold All STG holdings of 27,596 USDC — profit of 7,596 USDC, according to to look-on-chain.

Second address denz.eth exchanged 20,000 USDC for 40,269 STG tokens on January 22nd.wallet sold All bought STG for 28,039 USDC after 5 hours and earned 8,039 USDC from the trade.

Third address “0x27ae” exhaustion Purchase of 84,322 STG tokens on January 22nd at 02:25 UTC for a total of 41,462 USDC coins.and he sold All of that turned out to be 58,194 USDC after 6 hours — I kept 16,732 USDC for myself.

4th address “0xcfea” exhaustion 50,000 USDC to buy 101,111 STG on January 22nd at 02:40 UTC. Like his other 3 addresses, this address sold all his STG tokens about 8 hours later for 67,587 USDC. Scoop A profit of 17,587 USDC.

With four separate wallet transactions going on in parallel, Lookonchain suggested the exchange may be an “insider trader.”

STG token

The STG token surged 45% on January 22nd, rising from $0.4840 to $0.7031, according to. crypto slate data. The token was trading around $0.6476 at the time of writing.

STGUSD
STG/USD – (Source: Glassnode)
Posted In: Tokens, Trading

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