$3 billion in 40 minutes

Yesterday, the American rapper Kanye West launched his token $YZY on the Solana blockchain. The event immediately attracted the attention of the markets and crypto enthusiasts, with a skyrocketing market capitalization reaching 3 billion dollars in just 40 minutes from the debut. 

However, the volatility did not take long to appear: the market value then settled at 1.13 billion dollars, confirming the speculative and unpredictable nature of these digital assets.

An explosive debut for $YZY: Kanye West’s new token on Solana

According to the data provided by the on-chain analysis company Nansen, the first hours of trading of $YZY have generated million-dollar gains and losses among holders. The analysis of the top 500 wallets shows an overall balance of 50.4 million dollars in realized profits against 21.4 million in losses. The highest single profit recorded amounts to 3 million dollars, while the most significant loss reaches 1.3 million.

On the front of positions not yet closed, the largest unrealized profit is 164,000 dollars, while the highest potential loss is 561,000 dollars. These numbers reflect the speed with which capital has moved and the strong speculative component that characterizes the trading of new tokens linked to public figures.

Earnings for the team and user participation

The pool of $YZY has generated 10 million dollars in total earnings since its creation, a figure that has been distributed among participants based on their involvement in the early stages of the project. Investor interest is also evidenced by the number of wallets involved: there are 62,465 addresses that have made at least one transaction with $YZY.

Among these, 9,413 wallets have made profits exceeding 10 dollars, while 15,999 wallets have incurred losses of at least 10 dollars. These data highlight the strong polarization between those who managed to capitalize on the initial hype and those who, on the other hand, suffered the consequences of volatility.

The main holders of $YZY

Among the major current holders of $YZY stands out the wallet KING, with a value of 26,000 dollars in tokens. Other known addresses follow such as 0xRiver, xPeaceLandBread, Michael3 on OpenSea, and Alex Masmej, the latter with a position of 1,260 dollars. The presence of recognizable figures in the crypto world contributes to fueling interest and discussion around the token.

The comparison with $TRUMP: volumes and visibility

To better understand the scope of the launch of $YZY on Solana, it is useful to compare it with another recent case of a memecoin linked to a public figure: $TRUMP. Despite the great media attention, the public exposure of $YZY is still significantly lower compared to that of $TRUMP. In terms of volumes, $YZY recorded 724 million dollars in trades in the first hours, while $TRUMP had reached 29.5 billion dollars in the first 24 hours from the launch.

This comparison highlights how, despite being a debut of great impact, Kanye West’s token has not yet reached the levels of engagement and liquidity seen with $TRUMP. However, it should be considered that $YZY has not yet completed its first 24 hours of life, leaving open the possibility of further developments.

Monitoring and analysis tools

The company Nansen continues to closely monitor the performance of $YZY through its dashboard, offering investors the opportunity to follow the main market metrics in real-time. Additionally, thanks to the new AI Research Agent available on Telegram, it is possible to investigate the activities related to the token quickly and in detail, thus providing valuable support for those who wish to stay updated on market developments.

A rapidly evolving phenomenon

The launch of $YZY represents a new example of how celebrities are leveraging the popularity of cryptocurrencies to engage their communities and generate new forms of value. The association with a prominent name like Kanye West has certainly helped to capture attention, but the data also shows how volatility and risk remain central elements in this type of operation.

Nansen analysts will continue to closely monitor the performance of $YZY, ready to provide further updates as new data emerges. In the meantime, the debut of the token once again confirms the crypto sector’s ability to reinvent itself and attract capital and interest, also thanks to the involvement of prominent public figures.

Final considerations and current data

The $YZY case demonstrates how the combination of blockchain, celebrities, and speculation can generate market phenomena of great magnitude, but also extremely volatile. Investors are called to move with caution, aware of the opportunities but also of the risks that characterize these assets.

It remains to be seen whether Kanye West’s token will be able to consolidate its value over time or if it will follow the fate of many other memecoins, destined to experience bursts of popularity followed by rapid corrections.

For now, it seems to be going just like this for Kanye West’s new token: after just over 24 hours from the launch, $YZY has already lost more than 75% of its value.

Certainly, $YZY confirms itself as one of the most discussed and followed events of the moment in the world of cryptocurrencies.