The launch of Kanye West’s YZY token on Solana
$203.26
became a payday for a handful of merchants.
Information from Nansen confirmed that 13 wallets every earned over $1 million, which collected a mixed $24.5 million earlier than exiting their positions.
The token first appeared on August 21 and peaked at $3, which represented a 1,400% improve in its first hour. It then dropped round 74% to $0.77 inside a day.
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Greater than 56,000 wallets engaged with the token, in keeping with Dune Analytics. But Nansen reported that solely 27,000 wallets nonetheless held at the least $1 price after the crash. Out of the primary 99 addresses that entered, solely 9 nonetheless had tokens in a while.
Nevertheless, one deal with misplaced about $1.8 million, whereas one other dropped $1.2 million. A 3rd dealer remains to be holding tokens price a lot lower than their buy, with an unrealized lack of over $800,000.
Bubblemaps famous that the primary YZY purchaser was the identical pockets that profited from sniping the Trump token. The group additionally mentioned it had proof of one other sniper working in coordination with the primary.
Bubblemaps wrote:
There’s an elite group of snipers who don’t compete however coordinate, making tens of millions destroying charts.
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