The token $YZY from Kanye West is preparing for its largest-ever unlock, after its price fell approximately 90 percent from its all-time high.
According to data from OnchainLens, a total of 120.83 million $YZY tokens will be unlocked on August 16. This amount, equivalent to roughly $35.26 million, represents 12.08% of the total $YZY supply, which is 1 billion tokens.
This transaction will be the largest token release in the history of $YZY. The introduction of such a large volume of new supply raises concerns that it could increase selling pressure on the token, especially given current liquidity and demand.
It is claimed that the increase in $YZY token supply will not be limited to the August 16 unlock. According to the current schedule, approximately $8.51 million worth of $YZY tokens are expected to be unlocked monthly until July 2027.
On the other hand, the price of $YZY has lost approximately 89.9% of its value compared to its previous all-time high of $2.95. According to current data, the project's market valuation is approximately $87 million.
*This is not investment advice.
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