Kanye West Ignites Crypto Frenzy with YZY Money Launch on Solana Blockchain
Kanye West just dropped YZY Money on Solana—and the market's already spinning.
The Reaction
Traders flooded exchanges within minutes of the announcement. Solana's network saw transaction volume spike 300% as Ye stans and crypto degens collided in a perfect storm of hype and speculation.
Why Solana?
West bypassed Ethereum's gas fees and settled on Solana for speed and scale. The move signals a broader shift—celebrities aren't just launching tokens anymore; they're picking chains that won't buckle under momentum.
Market Impact
Initial trading pushed SOL to a 30-day high as YZY Money briefly trended above legacy memecoins. Of course, the 'fundamental value' here is the same as most celebrity tokens—vibes, promises, and the collective hope that someone else buys later. Classic finance, but with more screenshots and less paperwork.
Love him or hate him—Kanye just turned Solana into a cultural battleground. Again.
Kanye West has unveiled a new cryptocurrency named YZY Money, abbreviated as YZY, on Solana
$184‘s blockchain. After the announcement, YZY’s market capitalization soared to $3 billion within 40 minutes and its price skyrocketed by 6,800%, peaking at $2.10 before retracting due to profit-taking. The rapid interest in the cryptocurrency was fueled by West’s social media activity and a $20,000 launch prize pool. However, during the preparation of this article, YZY coin traded at $0.9890, reflecting a 60% decline.
Centralization Concerns and Liquidity Structure
West announced YZY WOULD be integrated as a payment method in Yeezy’s online fashion store. Yet, concerns about centralization arose with 70% of the total supply under West’s control, leading to fears about price volatility. Intensifying the debate, analysts pointed to the crypto‘s pool architecture, where only YZY was added without pairing with stablecoins like USDC. This setup has faced criticism for allowing developers to manipulate the pool and sell at high prices, thus causing sudden value drops.
Additionally, blockchain researcher Lookonchain identified wallets engaged in early acquisition and large profit withdrawals, with one particular wallet reportedly turning $450,000 into about $1.5 million. Conor Grogan, a Coinbase director, highlighted that 94% of the initial distribution was in the hands of insider wallets, with a single multi-signature wallet holding 87% of the supply.
The Risks of Celebrity-Linked Cryptos
The discussions around YZY coin evoke memories of other celebrity-linked crypto incidents. Argentina’s President Javier Milei’s promoted LIBRA plummeted after reaching a $4 billion market cap, sparking significant backlash. Similarly, Donald Trump’s TRUMP crypto stirred heated debates, shedding more than $7 billion from its peak market value within the year.
YouTuber Logan Paul’s CryptoZoo project, launched in 2021, also faced “rugpull” allegations when promised objectives were not met. Paul initiated partial refunds in 2024, although lawsuits concerning fraud allegations remain unresolved. The swift rise and subsequent fall of YZY, viewed alongside these past events, bring the influence of celebrity endorsements in the market into question.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.