Social media personality Andrew Tate has opened a significant new Bitcoin futures long position worth $3.76 million, despite a documented history of 107 previous liquidations. According to data from the on-chain monitoring resource Lookonchain, the position is highly leveraged and faces a liquidation price perilously close to current trading levels. Tate also launched a meme coin named DADDY, which has lost 97% of its value from its peak.
Social media figure Andrew Tate has initiated another major Bitcoin futures long. Data from Lookonchain indicates the position is for 57.36 BTC, valued at approximately $3.76 million.
The analysts noted Tate has been liquidated 107 times in the past. His new trade has a potential liquidation price of $65,216.
Bitcoin currently trades around $65,500. A dip of just $300 could trigger liquidation unless further collateral is added.
“Andrew Tate (@Cobratate), who’s been liquidated 107 times, is back! He opened a 40x long on 57.36 $BTC($3.76M). Liquidation price: $65,215.87,” the Lookonchain post stated. His trading history includes being wiped out within an hour of opening a prior BTC long.
Tate has a controversial history in cryptocurrency beyond futures trading. He previously launched a meme coin called DADDY as direct competition to Iggy Azalea’s MOTHER token.
Reports at the time suggested many of Tate’s claims about the token were incorrect and hinted at potential insider trading. Current data shows DADDY trades at $0.0085, down 97% from its all-time high.
