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 line with knowledge shared by Bubblemaps evaluation printed 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.
Information reveals stark inequality in outcomes, with solely 11 wallets (0.015%) producing earnings exceeding $1 million every. These profitable merchants captured $18.9 million in mixed beneficial properties.
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 earnings
Of the 70,201 merchants, solely 18,333 achieved profitability, representing 26% of complete contributors.
But, practically 86% of them generated earnings 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 earnings exceeding $10,000 every, capturing a mixed achieve of $58.8 million, which represents practically 88% of the overall earnings. 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 payment constructions.
The YZY pool operated with a 1% base payment that rapidly adjusted to 2.68%; mixed with slippage prices, this resulted in an estimated 10% round-trip buying and selling value for contributors.
The YZY buying and selling knowledge serves as a stark reminder of memecoin market circumstances, the place substantial beneficial properties are transferred to solely a small fraction of merchants, who are sometimes insiders or refined token snipers.
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