The rapper Kanye West (Ye) surprised the market with the launch of his YZY token on the Solana network. Within minutes, it reached a market capitalization of nearly 3 billion dollars, although it later stabilized around 1 billion.
The problem is that most of the coins are concentrated in very few hands. More than 70% would be controlled by Kanye, and another large part is in insider wallets. Only a small percentage entered liquidity, which raises questions about decentralization and risks of manipulation.
