$STG onchain activity ahead of unlock

Hello Anon,

Stargate Finance will start unlocking the Team, Investors and Launch Auctions allocation the 18th March

UNLOCK OVERVIEW 

• Unlock structure will be linear

  • 4% of total supply per month until August 2023, which is quite significant (40m tokens and $40mln potential selling pressure)

  • 1% of total supply per month until March 2025

• As a reminder, seed / private sale price is unknown but the IDO price was $0.3

  • Investors would likely obtained tokens at lower prices, therefore they are up significantly given current price is around $1 (>3x)

SUPPLY DISTRIBUTION

• Team and investors hold 35% of supply

• Community 28%

• Distribution on CEXs is 4.5%

• DEXs 3.7%

• Staking pools 1.1%

• Smart money balances have been stable over time in the last few months

ONCHAIN ACTIVITY

Below the most interesting onchain movements on Stargate happened in the last few days. Whales are not selling, most of the transactions are sizable buys (just one exception). Seems smart money is not expecting a dump

1) Whale accumulating big

• On 27th February, a whale bough c.$700k worth of $STG on Binance

• He / She bought other $100k worth of $STG in the 2 weeks before

• https://etherscan.io/tx/0x92818f46ed8597e298738ce15adc635cf27a723a260325790efebade65db7ef5 

2) Wallet who profited a lot in the past on STG trades is buying again

• Wallet 0xdbF39 bought $700k worth of $STG yesterday

• Wallet has already bough big bags of $STG in Jan at avg. price of $0.58, selling the 9th Feb at $0.92 with a profit of $112k

• https://etherscan.io/tx/0x92818f46ed8597e298738ce15adc635cf27a723a260325790efebade65db7ef5

3) Whale with $1.8mln worth of STG increased his position

• On 27th February an STG millionaire with $1.8m worth of STG increased its position with a $500k buy

• Seems he has high conviction

• Bought the dip on 5th Feb and he is up more than 50% on the investment

• https://etherscan.io/tx/0xb0cf890ca402021a2f37cb58c7ffa3eefe134d36f2d135d35e424bf70a8dae9f

4) Fresh wallet bought $500k worth of STG

• On 24th February, a fresh wallet with no other holdings bought $500k worth of STG from Coinbase

• https://etherscan.io/address/0x014349e13e1adeaf787750b4949b05586f6683c1#tokentxns

5) Fresh wallet bought $500k worth of STG in 3 buys

• From 24th February to 27th February, a fresh wallet accumulated $500k worth of STG

• https://etherscan.io/address/0x274d752eaa5abd0ed7ad1ed17e4478dd86294d0c#tokentxns

6) Wallet selling after significant profit

• 5 days ago, wallet 0x94c94c sold on Coinbase all his $STG holding for $1.4mln

• He bough at $0.36 and sold $1.12, with a 3.1x return and $1mln profit

• Not sure if he is preparing for unlock or just taking profit

• https://etherscan.io/tx/0x70392f65ce2c3c8542c0bd94d942f8a485cd1efa0f5047935261e17fa15a272a

• You can see he bought big very early and profited when price went 3x

EXTRA: ONCHAIN DETECTIVES

We expanded product coverage and we are screening the market looking for onchain insights + smart money movements, looking for interesting wallets to follow to anticipate dumps or price increases

If you are interested in onchain alpha, feel free to subscribe to our FREE ONCHAIN NEWSLETTER here https://onchain-detectives.beehiiv.com/