Meteora Records $16 Million From YZY Meme Coin Frenzy

Kanye West’s YZY meme token launch has had a seismic impact on the cryptocurrency market, with decentralized exchange Meteora profiting a massive $16 million in fees within a single day. This surge, coupled with record trading volumes of $1.183 billion, highlights both the potential and risks of celebrity-driven projects in DeFi. 🤯 📈 Concerns about insider trading and market manipulation have surged, prompting calls for regulatory action and stricter measures to protect against volatility.