Controversial Phenomenon Introduced This Chest Coin: Warning Came!

Controversial social media influencer Andrew Tate has now announced his support for another chest coin. Tate vowed to burn $100 million worth of cryptocurrency during a live broadcast. Additionally, Tate claims that he will not make any money through chest coins. However, Blockchain data shows ‘insider trading’ activities.

Andrew Tate explained his basis for this chest coin, but…

Tate’s involvement with DADDY stands in stark contrast to rapper Iggy Azalea’s MOTHER chest coin. Tate said, “I heard about a cryptocurrency called MOTHER. “Now I support a cryptocurrency called DADDY for patriarchy,” he said. However, this premise raised eyebrows. Bubblemaps, a Blockchain data analysis firm, detected questionable insider activity surrounding the launch of DADDY.

Blockchain data analysis company warned!

Bubblemaps reported that prior to Tate’s launch, insiders purchased 30% of the coin’s supply. These holders currently have assets exceeding $45 million. The intrigue deepened on June 9, when DaddyTateCTO transferred 40% of DADDY supply to Tate. Tate subsequently purchased $10,000 worth of tokens and burned them. Although he claimed that he was not selling any tokens at random, other suspicious processes emerged.

According to Bubblemaps, 11 wallets funded to almost the same extent through Binance purchased 20% of DADDY on June 9, before DaddyTateCTO’s first tweet. These crypto wallets currently control approximately 19% of the total supply worth $30 million. For this reason, Bubblemaps issued the following warning:

Since they are funded through Binance, we cannot 100% confirm that they belong to the same cluster. But the timing and measurements show that they belong to the same cluster. A wallet sale could collapse liquidity.

11 Wallets Controlling 20% ​​of DADDY Chest Coin Supply. Source: Bubblemaps

Chest coin history and strange criticisms of the phenomenon!

Additionally, two additional clusters holding 10% of the total supply are connected through a crypto wallet called 4sfQW. These clusters also made purchases before Tate’s promotional activities. Additionally, they currently own $16 million worth of tokens. Andrew Tate’s history with chest coin projects is remarkable. He had previously introduced coins such as Real Nigger Tate (RNT) and TOPG.

After his reinforcement, RNT rose to a market cap of $61.1 million. Another coin, TOPG, reached $38.01 million. However, there have been significant declines in these coins in the last 24 hours. RNT lost over 45% and TOPG lost 35%. Ironically, in a 17-minute appearance, Tate openly criticized the crypto community. In this regard, Tate said:

You are all losers. If I write a quote on Twitter, millions of dollars go into tickers based on that quote. If I say some things on camera, millions of dollars move. (…) What I learned about the crypto market is that you are all soulless cowards. Because it turns out you will buy anything, you will buy anything if you think you can make some money.