Token yzy of Kanye West collapses 75% after launch, and even Andrew Tate loses

By Hannah Pérez

Of financial promise to disaster in 24 hours. The cryptocurrency Yzy of rapper Kanye West collapsed 75% hours after its launch, with investors accumulating losses while Insiders benefit.

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The cryptocurrency yzy of rapper Kanye West collapsed 75% hours after its launch
Of financial promise to a crypto disaster in a matter of 24 hours.
Investors accumulate losses while Insiders invoice millions of earnings.
Andrew Tate among investors who lost to bet on Yzy.

Rapper and producer Kanye West, now known as Ye, has broken into the world of cryptocurrencies with the launch of your Token Yzy in the Blockchain of Solariumbut what promised to be a “New economy”It quickly became a financial chaos.

Announced on Thursday through its X account, the Token experienced a meteoric rise of almost 6,800% in its price, reaching a peak of USD $ 3.16 and a market capitalization of USD $ 3 billion in a matter of hours. However, in less than 24 hours, Yzy sank 75%, quoting around USD $ 0.73according to platform data such as GMGN.AI and Nansen.

This collapse has left thousands of retail investors with millionaire losses, while an elite group “Snipers”E. Insiders Apparently coordinated exorbitant profits were pocketed.

Yzy: Financial promise at 24 hours

The Yzy project was presented as a simple Memecoin. According to its official website, it includes a call processor Ye pay and a card for global transactions with Yzy and USDC.

Yeezy Money (Yzy) is a “Concept for a new financial system” that empowers users without centralized authorities, designed to be a “Expression of support“To the ideals of the artist’s brand, and not as a speculative investment, says its official page.

The launch immediately called the attention of the community due to the drastic turn in the artist’s position, who in February of this year had publicly and emphatically rejected the memecoins, calling them “Scams that take advantage of fans with exaggerated hype“At that time, he even revealed that he was offered USD $ 2 million to promote a false crypt called Ye.

Rapid ascent and loud fall: manipulation of Insiders?

Yzy’s debut was highly volatile, typical of Memecoins of celebrities and Tokens without foundation in networks such as Solarium.

According to analysis of Lookonchainseveral internal wallets bought the Token immediately after the launch, with one in particular generating more than USD $ 1.5 million in profits by selling tokens acquired with privileged information. Lookonchain He pointed out that this wallet “knew the direction of the contract in advance”And he even tried to buy the day before.

In addition, he criticized the Liquidity Fund, which only included Yzy without pairing with USDC, facilitating developers or large holders withdrawing funds – a configuration similar to the controversial Token Libra.

Data from Nansen They reveal an even more gloomy panorama: 13 main wallets extracted a total of USD $ 24.5 million when selling during the initial peak. More than 56,000 wallets interacted with Yzy, but only nine of the first 99 still maintain positions. Bublemaps described the stage as “worse than we thought “identifying the first buyers as part of a “Snipers elite group that coordinate instead of competing“

One of the buyers had pursued a similar strategy with Token Trump, winning millions, analysts said. Conor Grogan de Coinbase estimated that more than 94% of the initial supply was in the hands of Insiderswith a single purse controlling 87%.

Andrew Tate among Yzy’s losers

Even controversial figures such as Andrew Tate, former Kickboxing and influencer Of social networks, they do not escape from the bloodbath. The reports revealed that a purse linked to Tate opened a short position leveraged 3x in Yzy to USD $ 0.85, accumulating a loss of USD $ 16,000 in that single operation.

According to LookonchainTate has made 80 shops in Hyperliquidwith only 36.25% success, and their accumulated losses approach the USD $ 700,000. “It doesn’t seem good to perps trading“, Ironized the account. This adds to the previous accusations against Tate for privileged trade in his own Daddy memecoin, where Insiders They monopolized 30% of the supply before their promotion.

The risky Memecoins of celebrities

Yzy’s case is not isolated. Waves of celebrities such as 50 Cent, Caitlyn Jenner, Iggy Azalea and Ronaldinho launched Memecoins in Solariummost collapsing shortly after their debut. This last episode highlights the inherent risks in the Memecoins Fosate by celebrities: extreme volatility, possible manipulation and supply concentration.

With a negotiation volume of USD $ 31 million in 24 hours and a current capitalization of around USD $ 734 million (according to GMGG.AI), Yzy continues to attract attention, but doubts about transparency persist.

Ye has not responded to the accusations, and the future of the project – including the unlock of 70% of the supply controlled by Yeezy Investments LLC– It could trigger more volatility.

Article written with the help of AI, edited by Diariobitcoin

Image generated with AI tool, under free use license

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