As a researcher with a background in financial markets and blockchain technology, I find the recent revelations from Bubblemaps regarding insider activity in the DADDY cryptocurrency project quite concerning. The significant holdings of insiders, who reportedly secured 30% of the token’s initial supply, aligning with Tate’s promotional efforts on social media, is a red flag for potential manipulative practices.
New information from Bubblemaps indicates that a substantial portion of the cryptocurrency DADDY, founded by Andrew Tate, is owned by insiders. It’s believed they obtained 30% of the currency’s initial supply during its launch. This acquisition coincided with Tate’s active promotion of the token on social media platforms. Presently, these insiders control tokens worth around $45 million in value.
Initially, the deployment address associated with DADDy sent 40% of the tokens to Tate. He subsequently burned $10,000 worth of the asset in public. However, despite this, Tate continues to hold a significant amount, currently valued at approximately $64 million, which he has pledged not to sell.
Tate’s latest social media posts underscore his dedication, as he announced plans for a live destruction of tokens worth more than $100 million.
I am the one with a $200 million market cap. Previously, I burned 37 million dollars live on Rumble. However, from now on, I will only burn at least $100 million in one go. No more small-scale burns for me. I’m the top dog, built differently.
— Andrew Tate (@Cobratate) June 12, 2024
Additional Market Dynamics Observed
As a crypto investor, I’ve been closely monitoring the market and recently came across some concerning activity regarding DADDY token. Based on further analysis by Bubblemaps, I noticed that on June 9th, eleven wallets collectively purchased approximately 20% of the DADDY supply through simultaneous transactions. These wallets, which may be connected and funded via Binance, currently control around 19% of the total token supply, valued at roughly $30 million. This sudden increase in ownership raises some questions about potential manipulation or insider trading. I’ll continue to keep a close eye on this situation and update my investment strategy accordingly.
1/ We found huge insider activity on $DADDY 🚨
Insiders bought 30% of the supply at launch, before Andrew Tate (@Cobratate) started to promote it on X, and are currently sitting on $45M+
A thread 🧵 ↓
— Bubblemaps (@bubblemaps) June 12, 2024
Any sale from these wallets could represent a substantial financial risk due to their potential liquidity. Additionally, two groups of wallets obtained 10% of the available supply prior to Tate’s promotional tweets and now hold a combined value of $16 million.
As a researcher examining the DADDy token market, I’ve noticed some concerning behavior. The complex web of interconnected activities among insiders raises doubts about the token’s market stability. These actions could potentially involve manipulation that might impact unsuspecting traders.
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2024-06-12 23:32