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Kanye West introduced a Solana-based meme coin named “YZY” on Thursday, instantly triggering erratic trading that caused its market capitalization to rise and fall within hours.
The token experienced a nearly 1,000% increase shortly after its launch, briefly reaching a market cap of approximately $3 billion before declining to around $137 million, as reported by CoinGecko.
“The official Yeezy token has just launched,” West stated in a video shared on his X account, directing viewers to Yeezy Money, a platform described as a “concept to empower you, free from centralized control.”
In addition to YZY, the project’s website unveiled a cryptocurrency payment processor named Ye Pay and a debit card referred to as YZY Card.
Insiders Act Swiftly To Capitalize On YZY Excitement
On-chain analytics indicated that insiders acted quickly to benefit from the excitement. The analytics platform Lookonchain reported that one buyer invested 450,000 USDC to purchase 1.89 million YZY at $0.24 through two wallets.
This same investor subsequently sold 1.59 million tokens for 3.37 million USDC at $2.12, realizing over $3.4 million in profit, while still retaining approximately $510,000 worth of YZY. One wallet even incurred $24,000 in priority fees to secure an early entry.
An insider invested 450K $USDC to acquire 1.89M $YZY at $0.24 via 2 wallets, then sold 1.59M $YZY for 3.37M $USDC at $2.12.
He still holds 303,425 $YZY($510K), with a profit exceeding $3.4M (+760%).
To ensure he got in first, one wallet even paid 129 $SOL($24K) in priority fees.… pic.twitter.com/HaUeEjcmSC— Lookonchain (@lookonchain) August 21, 2025
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Speculative Surge In Meme Coins Fueled By Political Tokens
Despite the decline from its peak, trading activity remained robust. YZY recorded over $386 million in trading volume within 24 hours and is currently valued at just above $1, with a circulating supply nearing 130 million tokens. Market data also indicated that the top six holder addresses collectively possess more than 90% of the token supply.
The launch occurs during a period of resurgence in the broader crypto market, with the total market capitalization rising to $4 trillion. Bitcoin has reached all-time highs, and Wall Street institutions are increasing their investments in digital assets.
The emergence of politically-linked tokens, including Donald Trump’s cryptocurrency, has contributed to a surge of speculative interest in meme coins.
Rapid Transactions And Low Fees Enhance Solana’s Appeal
For West, this move represents his most significant foray into cryptocurrency following a series of indirect connections to the sector. In 2022, he was severed by JPMorgan Chase after his controversial statements, an incident that coincided with the decline of his billionaire status. Forbes currently estimates his net worth to be around $400 million, down from $2 billion.
The YZY launch also highlights Solana’s position as a center for meme tokens. Renowned for its rapid transactions and low fees, Solana has emerged as the preferred blockchain for speculative trading and viral projects. By selecting Solana, West aligns himself with a trend of meme coin creators leveraging the network’s increasing popularity.
Meme coins, often generated around humor, internet culture, or celebrity personas, have progressively entered mainstream finance. Their values typically reflect attention and hype rather than technical fundamentals.
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