Kanye West’s $YZY token is preparing for its biggest token unlock to date, after its price dropped by approximately 90 percent from its all-time high.
According to OnchainLens data, a total of 120.83 million $YZY tokens will be unlocked on August 16th. This amount, worth approximately $35.26 million, corresponds to 12.08% of $YZY’s total supply of 1 billion tokens.
This transaction will be the largest token unlocking ever for $YZY. The introduction of such a large new supply raises concerns that it could increase selling pressure on the token, especially given current liquidity and demand conditions.
It is stated that the supply increase in $YZY will not be limited to the unlocking on August 16th. According to the current schedule, approximately $8.51 million worth of $YZY tokens are expected to be unlocked each month until July 2027.
On the other hand, the $YZY price 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 value is approximately $87 million.
*This is not investment advice.