4 hours ago
Kanye West’s YZY token motorboat has near 105 traders with important losses betwixt $100,000 and $1 cardinal each, totaling $26 cardinal successful combined losses astatine an mean of $250,000 per wallet.
According to data shared by Bubblemaps investigation published connected Aug. 27, 70,201 traders interacted with the token, resulting successful 51,862 tanking losses.
West’s arguable token motorboat connected Solana reached a marketplace capitalization implicit $3 cardinal earlier collapsing by implicit 90% wrong hours.
Data reveals stark inequality successful outcomes, with lone 11 wallets (0.015%) generating profits exceeding $1 cardinal each. These palmy traders captured $18.9 cardinal successful combined gains.
The nonaccomplishment organisation shows that traders with larger positions bore the heaviest burden. Wallets losing betwixt $10,000 and $100,000 totaled astir $25.4 million, with 917 addresses sharing an mean nonaccomplishment of $27,700.
An further 4,244 traders mislaid betwixt $1,000 and $10,000, with an mean nonaccomplishment of $3,000, resulting successful implicit $13 million.
At the utmost end, 3 traders each mislaid much than $1 million, resulting successful a combined nonaccomplishment of $5.07 million.
Only 1% of wallets earned important profits
Of the 70,201 traders, lone 18,333 achieved profitability, representing 26% of full participants.
Yet, astir 86% of them generated profits of up to $1,000, totaling astir $1.65 million, with an mean nett of $105 for each trader successful this cohort.
Less than 1% (642 wallets) of the traders generated profits exceeding $10,000 each, capturing a combined summation of $58.8 million, which represents astir 88% of the full profits. Additionally, 88 traders earned betwixt $100,000 and $1 cardinal each, totaling $24.9 million.
Contributing to traders’ losses were structural disadvantages, including 94% insider-controlled archetypal supply and prohibitive interest structures.
The YZY excavation operated with a 1% basal interest that rapidly adjusted to 2.68%; combined with slippage costs, this resulted successful an estimated 10% round-trip trading outgo for participants.
The YZY trading information serves arsenic a stark reminder of memecoin marketplace conditions, wherever important gains are transferred to lone a tiny fraction of traders, who are often insiders oregon blase token snipers.
The station YZY token aftermath sees 105 traders suffer $100k-$1M each successful $75M wipeout appeared archetypal connected CryptoSlate.
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