About the YZY token sent by Kanye this morning.
Coinbase director Conor Grogan believes that the token is held internally, with 87% being controlled by a single multisig wallet and then distributed across multiple wallet addresses.
In addition, about 3% of the tokens were instantly bought by multiple wallets at the opening.
Only 7.56% of the tokens are used for on-chain DEX liquidity.
This is why the total market value of the token is unusually high, because there is not much real circulation, it is easy to be bought, and a large number of tokens are suspected to be in the hands of officials.
However, in the past, projects with this kind of structure will have more and more tokens in circulation in the market as the later stage progresses, and token prices will also be under pressure.
By my estimation, at least 94% of the new Kanye token is insider owned
-87% of the new Kanye token was owned by a single multisig (now dispersed to multiple wallets)
-3%+ was bought in a single transaction, with size, by assorted (prepared) wallets at market open
-7%+ in LP
59.75K
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