Popular rapper Kanye West has launched a new memecoin called YZY earlier today and it has taken over the crypto industry by a storm. Deployed on Solana, YZY token is currently talk of the town with the rapper describing project as the start of a “new economy, built on chain.”
The launch drew swift attention from investors with YZY’s valuation climbing as high as $3.2 billion at its peak before cooling to around $1.3 billion. These sharp moves showed how quickly celebrity-backed tokens can rise and fall.
Source: X
Building a New Economy with YZY Money
YZY token is positioned as the base of YZY Money project. Its ecosystem includes Ye Pay, a crypto payment service, and YZY Card, a global spending tool that works with both YZY and USD Coin. The project calls itself the start of “a new economy” built on-chain. It focuses on payments, commerce, and wider use of digital assets.
The token will be shared through public allocations and liquidity reserves. A portion is locked in long-term vesting under Yeezy Investments LLC to show commitment and transparency. Its vesting is carried out on-chain through Jupiter Lock, an audited protocol on Solana.
The launch also introduced an anti-sniping method, with the team deployed 25 contract addresses and picked one at random as the official YZY token. It was meant to block bots and give retail buyers a fair chance.
Suspicious Trading Movements on YZY Meme Coin
Analysts at Lookonchain highlighted wallets that seemed to know the real contract in advance. One wallet bought YZY before launch and later sold most of its holdings for a profit of more than $1.5 million, raising doubts about equal access.
YZY can be traded on Meteora on Solana. Early trading showed sharp price swings, underlining both excitement and risk. YZY shows how a celebrity launch can draw instant market attention. Its lasting value, however, will depend on Ye’s ability to deliver real payment and commerce tools beyond the early hype.
Also Read: Sonic Labs Proposes Token Issuance to Enter U.S. TradFi Markets
