Yzy hype machine leaves nursing traders of millions of losses on a token related to Kanye West

The purchase of the Yzy token apparently linked to you, the rapper formerly known as Kanye West, ended in tears for more than 70,000 wallets, Bubblemaps, a tool for visualization of blockchain data, in an article on X.

The beginnings of the same, based in Solana last week, were part of a “Yzy Money” ecosystem plan, which included payment rails and a brand card.

The data on the chain, however, suggests that the wallets and the first portfolios, combined with thin liquidity and rapid speculation, led to a launch where the whales extracted millions, while the crowd experienced almost all the losses.

More than 51,800 addresses seem to have lost between $ 1 and $ 1,000, 5,269 others are down $ 1,000 to $ 10,000 and 1,025 portfolio lose from $ 10,000 to $ 100,000, according to Bubblemaps data.

At the top of the loss curve, 108 portfolios are seated on six -digit titles, while three merchants have lost more than a million dollars each.

On the other side of the calculation, 11 addresses reserved of $ 1 million or more, only 0.015% of the total. It is estimated that 99 portfolios have generated more than $ 100,000, while 2,541 portfolios released at least $ 1,000.

The crowd as a whole is down $ 8.2 million, despite some initiates who affect substantial victories. Thus, while 18,000 wallets technically benefited, the concentration was brutal. The real money was seated with the top 11, while the rest barely moved the needle.

The unbalanced distribution reflects the structural defects reported from the first day, as Coindesk noted in its previous history.

A total of 70% of the offer was reserved for Yeezy Investments LLC, locked in the Jupiter acquisition system, with only 20% sold to the public and 10% used for liquidity.

The swimming pool itself was sown with Yzy tokens alone without a pair of stables – a design that leaves the door open to sudden liquidity prints, a bit like the short -term balance token promoted in Argentina in February.

Chain analysts have identified portfolios with early access. At the time of the show, the address 6MNV8 spent 450,611 USDC for 1.29 million Yzy at $ 0.35, returned 1.04 million tokens for 1.39 million USDC and still holds around 249,907 Yzy of about $ 600,000 to make a quick profit of 1.5 million dollars.

On Thursday, Yzy’s market capitalization was deflated at $ 544.9 million with $ 42.7 million in liquidity and 26,590 holders, down sharply compared to the initial frenzy which briefly saw the evaluations praised up to $ 3 billion.

The daily volume has dropped to $ 1.8 million, show dextool data, a fraction of early activity.

Yzy’s performance closely reflects that of many memecoins based on celebrities, where the chance to hit gains that change life is actually zero unless you are already inside.

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