- Blockchain analytics platform Bubblemaps has raised red flags surrounding Andrew Tate’s “Daddy” token (DADDY) launch.
- Insiders allegedly purchased 30% of the token’s supply before official promotion, spurring market manipulation fears.
- Tate’s subsequent actions and blocked responses have intensified cautionary advice to investors about the token.
Discover the potential risks of Andrew Tate’s new “Daddy” token amid suspicions of market manipulation and large insider purchases.
Concerns Over the “Daddy” Token’s Market Manipulation Potential
Bubblemaps, a renowned blockchain analytics firm, has sounded alarms about the suspicious activities surrounding Andrew Tate’s “Daddy” token. The findings note that insiders managed to acquire a significant portion of the tokens free of follow-up revelations to the public. In total, 30% of the entire token supply was in the hands of insiders before Tate began his promotional efforts.
Questionable Insider Transactions Unveiled
According to Bubblemaps, these insiders are now sitting on Daddy tokens worth an estimated $45 million. In light of these developments, Andrew Tate blocked Bubblemaps on the X platform shortly after these concerns were publicized. Information from blockchain data revealed that the deployer address had transferred an astonishing 40% of the total Daddy token supply to Tate’s wallet at around 21:42 UTC on June 9. Additionally, Tate bought and then burned tokens worth $10,000 but has not sold any.
Wallet Clusters and Potential Impact
Prior to any public promotion of Daddy Token on June 9, eleven wallets managed to acquire 20% of the token’s total supply. Blockchain data showed these wallets made these simultaneous purchases through the Binance platform within a ten-minute window. While the ownership of these wallets remains unverified, Bubblemaps highlighted that the timing and amounts involved suggest coordinated actions by a single group. These wallets currently hold around 19% ($30 million) of the token’s supply, raising the stakes on the token’s market liquidity.
Additional Token Holdings and Market Influence
Solscan data has also exposed two more wallet clusters linked through wallet “4SfQWh,” holding an additional 10% of the Daddy token’s total supply, worth about $16 million. These wallets made their substantial purchases before Tate’s initial social media post about Daddy token. Meanwhile, Tate still controls a noteworthy 40% of Daddy tokens, valued at $64 million, which he has yet to burn or sell, adding another unpredictable element to the token’s market.
Conclusion
The emerging data from Bubblemaps and Solscan has underscored substantial concerns about potential market manipulation surrounding the “Daddy” token. With insiders holding significant portions of the token supply and Andrew Tate’s actions casting doubt, investors are urged to exercise considerable caution. The stakes are high, and a major sell-off by any of these wallets could severely impact the token’s liquidity, jeopardizing investments. The insights presented should serve as a critical guide for current and prospective investors navigating the volatile waters of the crypto market.
