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Kanye West's YZY Token Reaches $2.75 Billion Market Cap

Kanye West's YZY Token Reaches $2.75 Billion Market Cap

YZY token’s valuation has fallen from its peak, now at $1.45 billion with $141 million trading volume, reflecting heightened volatility after its initial $1.98 billion post-announcement surge, according to GMGN market data.

Fact Check
Multiple credible sources, including Forbes, Cointelegraph, and ainvest.com, corroborate that a YZY token associated with Kanye West reached a market capitalization between $2.7 billion and $3 billion shortly after its launch. Source 2 specifically states it reached a '$2.7B market cap', while several others report it peaked at $3B, making the statement that it reached $2.75 billion highly plausible within that reported range.
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Summary

Kanye West's YZY token, which initially reached a market capitalization of $1.98 billion following its launch announcement, has dropped to $1.45 billion. GMGN market data also shows a trading volume of $141 million, down from the earlier reported $186 million when the token reached a $2.75 billion valuation.

Terms & Concepts
  • Market Capitalization: The total market value of a cryptocurrency, calculated by multiplying the current price by the total circulating supply of the coin.
  • Trading Volume: The total amount of a cryptocurrency traded within a specific period, indicating the level of market activity.