After an address withdrew 8 million STG tokens from the Gate, the STG price surged by over 40%.

CoinFeed reported on June 10th that, according to on-chain analyst Yu Jin, STG surged over 40% after an address withdrew 8 million STG tokens (worth $2.2 million) from the Gate. After STG was acquired by ZRO, it can only be exchanged for ZRO at a fixed ratio of 1 STG = 0.08634 ZRO. With ZRO priced at $0.84, STG should be worth around $0.07 based on this ratio, while the current STG price is $0.36.