US EditionYZY Hype Machine Leaves Traders Nursing Millions in Losses on Kanye West-Linked Token
8 Articles
8 Articles
YZY Hype Machine Leaves Traders Nursing Millions in Losses on Kanye West-Linked Token
Buying the YZY token apparently linked to Ye, the rapper formerly known as Kanye West, ended in tears for more than 70,000 wallets, Bubblemaps, a blockchain data visualization tool, said in a post on X.The Solana-based memecoin's debut last week was part of a “YZY Money” ecosystem plan, which included payment rails and a branded card.On-chain data, however, suggests that insider and early wallets, combined with thin liquidity and rapid speculati…
Over 51,000 Wallets Lost $74.8M in Kanye West’s YZY Celebrity Memecoin Crash
Recent data has shown that over 73% of traders suffered losses following Kanye West’s Solana-based YZY memecoin's 81% crash. It's been a little over a week since Kanye West launched his celebrity memecoin, and the token has already lost a staggering 83% of its value. The token, promoted on the American rapper’s X account on August 20, quickly gained traction, surging to an all-time high of $3.16 in 24 hours. Expectedly, the token came crashing a…
Kanye West’s YZY Token Crash Wipes Out Majority of Investors’ Gains!
Surprisingly, in the history of celebrities launching cryptos, the YZY token attributed to Kanye West has collapsed in price, with 74% of investors losing their money, and some making big gains, based on new Bubblemaps data. Rising on Hype, Crashing on Reality The YZY token was introduced in the Solana blockchain and it created much speculation. During the initial hour, the price rose by approximately 1,400% to approximately $3. It may have a va…
While the vast majority of investors lost, 11 wallets received 30% of all profits, each pocketing more than $1 million, according to data shared by Bubblemaps. *** Kanye West's YZY memecoin left 51,862 operators with millionaire losses. 74% of the wallets incurred losses, with 100 suffering losses of up to $1 million. While most are in red numbers, 11 earned more than $1 million each. The rapper launched YZY last week, quickly attracting attenti…
Key Points of the News More than 74% of traders who bought the YZY token in Solana from Kanye West suffered losses, according to data in the blockchain. Despite the big promotion, nearly 75 million dollars were lost in more than 50,000 wallets. A small group of 11 wallets captured almost a third of all profits, generating concerns about internal dominance. Although most lost, the episode highlights the growing role of celebrity tokens in crypto …
More than 74% of the YZY token investors in Kanye West are in losses, or 51,862 portfolios, for a total of $74.8 million stolen. Only a handful of traders took advantage of the launch, including 11 portfolios capturing almost 30% of the profits, illustrating a system dominated by insiders and bots. Already known figures such as Naseem and Hayden Davis are pointed at by Bubblemaps, reinforcing the image of recurring manipulations in the mecoins. …
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
