STBL has lost 80% of its value from its peak, plunging the token into a significant decline. Additionally, the token is now mired in controversy as the founding team faces accusations of selling off millions of dollars’ worth of tokens.

Meanwhile, the project is moving forward with plans to mint 100 million USST and launch a repurchase program by the end of October. This development has divided the market between hopes of recovery and fears of collapsing trust.

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Who Sold — and Why Did the Market React So Sharply?

Within just a month of its launch, STBL, the token of the stablecoin protocol of the same name, has plunged more than 80% in value. Data from BeInCrypto shows that STBL hit an all-time high around $0.60, then dropped to a low of about $0.0797 before recovering slightly to $0.11478. At this price, STBL’s market cap hovers near $58 million.

According to Bubblemaps, on-chain data revealed that at least five large addresses sold all of their STBL holdings, pocketing roughly $17 million in profits. Notably, these same five addresses were linked to early STBL trading activity in September — when they collectively earned over $10 million during the token’s launch phase.

This pattern has sparked speculation within the crypto community about potential Go to Source to See Full Article
Author: Linh Bùi