STO token experienced a dramatic price surge of 2212% over the past week, climbing from $0.08071 to a peak of $1.86666. However, the token's value sharply declined by 73% within an hour. This volatility comes ahead of a scheduled token unlock event tomorrow at 8 AM, where 13.21 million tokens, valued at approximately $7.265 million at current prices, will be released to team members and investors.
The recent price drop also triggered the liquidation of a $7.67 million short position held by Aster, with the liquidation price set at $2.55. The price briefly touched $2.56, causing the position to be liquidated. This market activity raises questions about whether the moves were targeted at large hedgers or retail investors chasing the rally.
STO Token Surges 2212% Before Plummeting 73% Amid Unlock Event
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