Ye Launches $YZY Token: Market Cap Soars Before Crashing Amid Concerns

Rapper Ye (formerly Kanye West) launched his first major blockchain venture with the release of the YZY token, a Solana-based cryptocurrency. The token’s market cap reached $3 billion within 40 minutes, fueled by rapid transactions and excitement. However, concerns surrounding insider holdings led to a sharp decline in value as the market grapples with the impact of celebrity-backed tokens.