Former Brazilian footballer Ronaldinho Gaúcho has unveiled a new cryptocurrency token called STAR10

The token offers holders exclusive benefits, including signed memorabilia and access to an AI-powered assistant.

Former Brazilian footballer Ronaldinho Gaúcho has announced the launch of a new cryptocurrency named STAR10 on the Binance Smart Chain.

The token is designed to offer holders exclusive benefits, such as signed memorabilia and access to an AI-powered assistant. To introduce STAR10 to his fans, Ronaldinho took to social media to invite them to join him on this new journey.

In a post on X, formerly known as Twitter, Ronaldinho shared a promotional video for STAR10, highlighting the benefits that await token holders. These benefits include a unique membership card, a signed football, and the chance to interact directly with Ronaldinho through an AI-powered assistant.

Moreover, Ronaldinho will be hosting regular meet-and-greets with small groups of STAR10 holders at select locations worldwide.

Following its release, STAR10 witnessed an immediate surge in value, climbing over 20% to reach a peak price of $0.2492. Later, the token was trading at $0.23, reflecting a 13% gain since its launch.

With a circulating supply exceeding 82 million tokens, STAR10 has already amassed a market capitalization of nearly $20 million, and its fully diluted valuation stands at $241 million. The trading volume of STAR10 has surpassed $26 million, according to data from CoinGecko.

One of the most significant scandals involving Ronaldinho was the 18kRonaldinho project, a cryptocurrency initiative linked to a pyramid scheme that falsely promised investors daily returns of 2%. The project, which reportedly defrauded around 100,000 people, was shut down by Brazilian authorities in March 2024.

Despite claims of having no involvement in the project, Ronaldinho’s name, image, and signature were used extensively in the scam. A judge later ruled that Ronaldinho was not to blame for the cryptocurrency fraud.

The launch of STAR10 also comes amid a surge in the memecoin sector, with the market cap rising from $20 billion in January 2024 to over $120 billion by December.

However, a security issue arose when a third party maliciously deployed a copy of the token’s contract and attempted to deceive users. This security issue raised red flags among potential investors, especially given recent incidents in the celebrity token space.

Despite the copycat attempt, blockchain security firm SlowMist later reported that the token’s creator had renounced ownership over the contract, effectively eliminating this particular risk.

Onchain Lens, a blockchain analytics firm, has revealed that an individual with close ties to Ronaldinho managed to realize nearly $5 million in profit through early purchases of STAR10 tokens.