The launch of the YZY token, linked to Kanye West, has resulted in significant losses for over 70,000 wallets. According to data from Bubblemaps, more than 51,800 addresses suffered losses ranging from $1 to $1,000, while some traders reported losses between $1,000 to $10,000. The total losses for the crowd amount to approximately $8.2 million, contrasting sharply with insider profits, where around 11 addresses made gains of over $1 million. The market cap of the YZY token has fallen to $544.9 million from an initial frenzy valuation of $3 billion. Its launch was part of a broader “YZY Money” ecosystem aimed at integrating payment rails. The structural issues, including 70% of the token supply being locked for insiders and thin liquidity, have led to a concentration of losses among average traders while a few insiders benefitted greatly. This scenario mirrors typical outcomes in high-risk speculative markets, leaving many participants with little more than losses and few rewards.

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