Kanye West’s YZY token launch has left 105 merchants with vital losses between $100,000 and $1 million every, totaling $26 million in mixed losses at a median of $250,000 per pockets.
In accordance with information shared by Bubblemaps evaluation revealed on Aug. 27, 70,201 merchants interacted with the token, leading to 51,862 tanking losses.
West’s controversial token launch on Solana reached a market capitalization over $3 billion earlier than collapsing by over 90% inside hours.
Knowledge reveals stark inequality in outcomes, with solely 11 wallets (0.015%) producing income exceeding $1 million every. These profitable merchants captured $18.9 million in mixed positive factors.
The loss distribution reveals that merchants with bigger positions bore the heaviest burden. Wallets shedding between $10,000 and $100,000 totaled roughly $25.4 million, with 917 addresses sharing a median lack of $27,700.
A further 4,244 merchants misplaced between $1,000 and $10,000, with a median lack of $3,000, leading to over $13 million.
On the excessive finish, three merchants every misplaced greater than $1 million, leading to a mixed lack of $5.07 million.
Just one% of wallets earned substantial income
Of the 70,201 merchants, solely 18,333 achieved profitability, representing 26% of complete individuals.
But, practically 86% of them generated income of as much as $1,000, totaling round $1.65 million, with a median revenue of $105 for every dealer on this cohort.
Lower than 1% (642 wallets) of the merchants generated income exceeding $10,000 every, capturing a mixed achieve of $58.8 million, which represents practically 88% of the overall income. Moreover, 88 merchants earned between $100,000 and $1 million every, totaling $24.9 million.
Contributing to merchants’ losses have been structural disadvantages, together with 94% insider-controlled preliminary provide and prohibitive price constructions.
The YZY pool operated with a 1% base price that shortly adjusted to 2.68%; mixed with slippage prices, this resulted in an estimated 10% round-trip buying and selling price for individuals.
The YZY buying and selling information serves as a stark reminder of memecoin market situations, the place substantial positive factors are transferred to solely a small fraction of merchants, who are sometimes insiders or refined token snipers.