On August 21, Beijing time, Kanye West officially released his personal meme token YZY, triggering a wave of interest in the cryptocurrency market.
Launch of the Meme Token YZY
The YZY token was created on August 17 and initially surged in price, reaching $3.078, with a market capitalization of about $3.078 billion. However, the price later fell to $0.827 and is currently valued at $827 million.
Trader Naseem and His Earnings
According to the tracking protocol Bubblemaps, the first user to actually trade YZY was likely the anonymous trader Naseem, who previously earned $100 million by trading tokens, including TRUMP and LIBRA. His first YZY purchase amounted to $250,000, and he has since sold $800,000 of that amount.
Community Reacts to Naseem's Methods
The cryptocurrency community is questioning Naseem's abilities. How did he become the first trader of YZY? There are suspicions of collaboration with other traders in token sniping. After publication of the investigation, Bubblemaps indicated a possible connection between Naseem and another group of traders.
The situation surrounding the YZY token and the anonymous trader Naseem is drawing public attention. While the profits are high, questions about the legality of their methods arise, indicating the need for careful analysis of such scenarios in the future.
