Recent findings from Crypto Twitter researchers reveal that insiders possess a significant portion of Andrew Tate’s cryptocurrency, DADDY. At the launch, these insiders reportedly secured 30% of the token’s initial supply, aligning this acquisition with Tate’s promotional efforts on social media. Currently, insiders allegedly hold tokens valued at approximately $45 million.
The deployment address linked to DADDy initially transferred 40% of the token to Tate, who has publicly burned $10,000 of the asset. Despite this, he still retains a substantial amount, now worth around $64 million, which he has vowed not to sell.
Tate’s recent statements on social media underline his commitment, where he claimed a forthcoming live burn of tokens valued at over $100 million.
Additional Market Dynamics Observed
Analysis by Bubblemaps noted suspicious activity on June 9th, involving 11 wallets that bought up 20% of DADDY through simultaneous transactions. These wallets, possibly connected and funded via Binance, currently hold 19% of the total supply, valued at $30 million.Â
The potential sale from any of these wallets poses a significant liquidity risk. Moreover, two other clusters of wallets acquired 10% of the supply before Tate’s promotional tweets and are now valued at $16 million.
This layered insider activity casts shadows over the DADDy token’s market stability and raises concerns about potential manipulative practices that could affect ordinary traders.
