Across a series of posts on X, formerly Twitter, Ye announced that he has a meme coin on the Solana blockchain. The Yeezy crypto token, YZY, unceremoniously launched on Wednesday (August 20), with Ye offering his followers a link to get involved. "Yeezy money is here," he wrote. "A new economy, built on chain."

The surge toward Ethereum Price $5,000 is showing signs of gathering steam, offering a backdrop to a meme coin frenzy. Amid that buzz, Kanye West’s YZY Coin launch captured headlines, drawing wild speculation.

Kanye West’s YZY meme coin launched on Aug. 21 and quickly hit a $3 billion market cap, but the hype was short-lived — the token has since dropped nearly 80%, with most traders now in the red. Over 60% of YZY traders lost money,