HashKey Capital deposits $540K in STO to Binance

An address linked to crypto investment firm HashKey Capital deposited 596,000 STO, worth approximately $540,000, to Binance about three hours ago, AmberCN reported. The move comes as StakeStone (STO) experienced a sharp price surge today, climbing from $0.1 to as high as $1.8. Deposits to exchanges are typically interpreted as a precursor to selling. STO reached a peak of $1.86 about 30 minutes ago before falling sharply. It is currently trading near $0.63, down approximately 70% from its high.