The recent launch of the YZY meme coin by American rapper Kanye West has drawn the attention of Andrew Tate, who despite his controversial image, attempted to profit from this asset.
Success on the YZY Short Position
According to Lookonchain data, Andrew Tate opened a 3x short position on YZY at $0.8524, netting him a $16,000 profit at the time of the post. Despite YZY's slight rebound to $0.70, he remains in profit.
Tate's History with Meme Coins
Previously, Andrew Tate faced criticism for his involvement in dubious meme coins. Despite earlier claims of not supporting cryptocurrencies, he began actively promoting various tokens on the Solana platform. Many of them, such as GER and 'Fuck Madonna', quickly lost value after significant spikes.
Overall Assessment of Tate's Trading Successes
Tate's trading statistics raise questions: out of 80 trades on Hyperliquid, only 29 were profitable, representing a win rate of 36.25%. His total losses amass to $699,000, indicating potential issues with his trading strategy.
In conclusion, while Andrew Tate managed to profit from a short position on YZY, his overall trading activities do not inspire confidence. His interest in meme coins appears dubious, especially considering his past failures.
