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13 Traders Score $24 Million From Kanye West’s YZY Token Crash on Solana

Key Takeaways

  • ​13 wallets made a combined $24.5 million from Kanye West’s YZY token before exiting;
  • YZY surged 1,400% to $3 in an hour, then dropped 74% to $0.77 within a day;
  • Bubblemaps tied the first buyer to known "snipers", which claimed coordinated activity.

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13 Traders Score $24 Million From Kanye West’s YZY Token Crash on Solana

The launch of Kanye West’s YZY token on Solana SOL $238.57 turned into a payday for a handful of traders.

Data from Nansen showed that 13 wallets each earned over $1 million, which collected a combined $24.5 million before exiting their positions.

The token first appeared on August 21 and peaked at $3, which represented a 1,400% increase in its first hour. It then dropped around 74% to $0.77 within a day.

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More than 56,000 wallets engaged with the token, according to Dune Analytics. Yet Nansen reported that only 27,000 wallets still held at least $1 worth after the crash. Out of the first 99 addresses that entered, only nine still had tokens later on.

However, one address lost about $1.8 million, while another dropped $1.2 million. A third trader is still holding tokens worth much less than their purchase, with an unrealized loss of over $800,000.

Bubblemaps noted that the first YZY buyer was the same wallet that profited from sniping the Trump token. The group also said it had evidence of another sniper working in coordination with the first.

Bubblemaps wrote:

There’s an elite group of snipers who don’t compete but coordinate, making millions destroying charts.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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