The launch of Kanye West’s YZY token on Solana
$206.95
changed into a payday for a handful of merchants.
Knowledge 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, based on Dune Analytics. But Nansen reported that solely 27,000 wallets nonetheless held no less than $1 value after the crash. Out of the primary 99 addresses that entered, solely 9 nonetheless had tokens afterward.
Nonetheless, one handle misplaced about $1.8 million, whereas one other dropped $1.2 million. A 3rd dealer remains to be holding tokens value 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 stated 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 thousands and thousands destroying charts.
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