Kanye West launches YZY token on Solana: Surges to $3 billion then crashes within hours

The famous rapper #KANYEWEST has officially entered the crypto world with the YZY token on Solana, promoted on his personal X account on the evening of August 14. Less than an hour after listing, YZY's market capitalization surged to over $3 billion, but quickly fell below $1 billion, showing the extreme volatility of the celebrity-branded token.

According to on-chain data, 70% of the supply #YZY is held in a single wallet, raising concerns about the level of concentration and potential manipulation. Meanwhile, the public allocation is only about 20%, with the remainder belonging to Yeezy Investments LLC. Experts warn that with a thin liquidity structure, even a moderate sell order could cause the price to free-fall.

The project's website describes YZY as part of the "YZY Money" ecosystem, aimed at building a new financial system on the blockchain. Plans include Ye Pay (a payment solution that reduces fees for merchants) and YZY Card (a global spending card for YZY and USDC). However, no specific timeline or technical details have been announced.

Despite creating a strong media effect and a surge in trading volume on Solana, YZY is considered riskier than previous celebrity tokens due to its extremely high level of control concentration. Many experts warn: YZY could simply be a "marketing story," and in reality, remains a risky gamble for retail investors. #anhbacong