Trading data shows that Ye’s new cryptocurrency project, YZY, reportedly produced one of the most explosive launches of the year.
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Within minutes of going live, the Solana-based token soared nearly one thousand percent and briefly reached a market capitalization of three billion dollars before collapsing to about $137 million, according to CoinGecko.
Despite the sharp fall, activity did not slow, with YZY recording more than $386 million in daily trading volume. The token now trades just above one dollar with roughly 130 million in circulation.
The concentration of ownership has already raised concerns. Market trackers revealed that the six largest wallets together hold over ninety percent of all YZY tokens, suggesting a high level of control among a small number of investors.
Insiders were quick to capitalize on the rapid rise.
In a post, Lookonchain summarized, “An insider spent 450K to buy 1.89M at $0.24 via 2 wallets, then sold 1.59M for 3.37M at $2.12. He still holds 303,425 ($510K), with a profit of over $3.4M (+760%). To ensure he got in first, one wallet even paid 129 ($24K) in priority fees.”
Ye formally announced the coin’s release in a video on his Twitter account, stating, “The official Yeezy token just dropped,” while promoting Yeezy Money, a website described as a “concept to put you in control, free from centralized authority.”
The platform not only introduced the token but also highlighted plans for Ye Pay, a crypto payment processor, and the YZY Card, a debit card designed for direct integration with the project.
For Ye, the launch represents his first major step into cryptocurrency, a move that has already attracted global attention and positioned YZY at the center of debate over the risks and rewards of celebrity-backed tokens.
