Kanye West Drops YZY: The Solana Meme Coin Shaking Up Crypto
Hip-hop mogul Kanye West just launched his own Solana-based meme coin—and it's already sending shockwaves through the crypto space.
The YZY token dropped without warning, leveraging West's massive cultural influence to instantly capture market attention. Built on Solana's high-speed blockchain, the coin promises lower transaction fees and faster settlements than many legacy networks.
Trading volume exploded within hours of launch, with early adopters scrambling to get in on the action. Social media platforms lit up with discussions, memes, and speculation about the token's potential trajectory.
Of course, traditional finance types are already rolling their eyes—another celebrity-backed asset that'll probably make more headlines than actual returns. But in crypto, hype often writes its own rules.
Whether YZY becomes a lasting innovation or just another flash in the pan, one thing's clear: when Kanye moves into Web3, people pay attention.
Insiders Move Quickly To Cash In On YZY Frenzy
On-chain data showed that insiders moved quickly to profit from the frenzy. Analytics platform Lookonchain reported that one buyer spent 450,000 USDC to acquire 1.89m YZY at $0.24 through two wallets.
The same investor later sold 1.59m tokens for 3.37m USDC at $2.12, securing more than $3.4m in profit, while still holding about $510,000 worth of YZY. One wallet even paid $24,000 in priority fees to ensure an early entry.
An insider spent 450K $USDC to buy 1.89M $YZY at $0.24 via 2 wallets, then sold 1.59M $YZY for 3.37M $USDC at $2.12.
He still holds 303,425 $YZY($510K), with a profit of over $3.4M (+760%).
To ensure he got in first, one wallet even paid 129 $SOL($24K) in priority fees.… pic.twitter.com/HaUeEjcmSC
Speculative Wave In Meme Coins Driven By Political Tokens
Despite the pullback from its peak, trading activity remained intense. YZY recorded more than $386m in 24-hour trading volume and is currently priced at just over $1, with a circulating supply NEAR 130m tokens. Market data also revealed that the top six holder addresses collectively control more than 90% of the token supply.
The launch comes at a time when the wider crypto market is resurgent, with the total market value climbing to $4 trillion. Bitcoin has surged to record highs, and Wall Street institutions are accelerating their exposure to digital assets.
The rise of politically-linked tokens, including Donald Trump’s cryptocurrency, has helped fuel a wave of speculative interest in meme coins.
Fast Transactions And Low Fees Fuel Solana’s Popularity
For West, the MOVE marks his most significant entry into crypto after a string of indirect ties to the industry. In 2022, he was cut off by JPMorgan Chase following his controversial remarks, an episode that coincided with the erosion of his billionaire status. Forbes estimates his net worth now at around $400m, down from $2b.
The YZY launch also points to Solana’s role as a hub for meme tokens. Known for fast transactions and low fees, solana has become the blockchain of choice for speculative trading and viral projects. By choosing Solana, West joins a wave of meme coin issuers capitalizing on the network’s growing popularity.
Meme coins, often created around jokes, internet culture, or celebrity figures, have increasingly crossed into mainstream finance. Their prices tend to reflect attention and HYPE rather than technical fundamentals.
