💞 #Gate Square Qixi Celebration# 💞
Couples showcase love / Singles celebrate self-love — gifts for everyone this Qixi!
📅 Event Period
August 26 — August 31, 2025
✨ How to Participate
Romantic Teams 💑
Form a “Heartbeat Squad” with one friend and submit the registration form 👉 https://www.gate.com/questionnaire/7012
Post original content on Gate Square (images, videos, hand-drawn art, digital creations, or copywriting) featuring Qixi romance + Gate elements. Include the hashtag #GateSquareQixiCelebration#
The top 5 squads with the highest total posts will win a Valentine's Day Gift Box + $1
Recently, both the music industry and the Crypto Assets world were shocked by a dramatic turn of events. The rap superstar Kanye, who had publicly criticized encryption projects, suddenly launched his own Token YZY. This move not only triggered significant Fluctuation in the market but also led to numerous speculations about his motives.
Kanye's attitude shift can be described as a 180-degree turn. He has transitioned from previously criticizing crypto projects as scams to now becoming a token issuer, which is a striking contrast. When questioned, he responded in a humorous way: "The previous line is lyrics, this line is the highlight," showcasing his consistently controversial personality.
The market performance of the YZY Token can be described as breathtaking. Within just 40 minutes of its launch, its market value skyrocketed to $3 billion, and the trading volume exceeded $5 billion within 24 hours. However, this frenzied growth did not last long. Within a mere 3 hours, the token's value plummeted by two-thirds, leading many investors to suffer losses.
Analyzing Kanye's motives for this move, we can see multiple layers of consideration. Firstly, this could be his attempt to fight against the traditional music industry system. By utilizing blockchain technology and tokenization, he aims to bypass record companies and financial intermediaries, directly connecting with fans to gain greater creative autonomy. Secondly, after the value of the Yeezy shoe brand has been impacted, issuing tokens could be a strategy for him to reshape the brand image. Furthermore, Kanye has always been adept at leveraging controversy to create topics, and the high fluctuation of the Crypto Assets market provides him with an ideal stage for performance.
However, as we delve into the on-chain data of the YZY Token, some unsettling truths come to light. The token supply is highly concentrated, with the top 20 wallets controlling over 70% of the tokens. This means that a few individuals can easily manipulate the market. More notably, large amounts of funds entered the market within the first minute of the token's launch, and just a few hours later, someone cashed out millions of dollars. This pattern raises suspicions that the so-called 'improvisation' was actually premeditated.
Essentially, the YZY Token is more like a high-risk "sentiment derivative". It lacks a clear application scenario, and the token supply is highly concentrated in Kanye's hands, leaving investors with almost no autonomy. This design not only increases investment risk but also raises doubts about the project's long-term sustainability.
Kanye's "crypto assets journey" undoubtedly presented us with a spectacular market drama. It not only showcased the madness and uncertainty of the crypto assets market but also highlighted the tremendous influence of celebrity effects on financial markets. However, for ordinary investors, such highly speculative projects are undoubtedly a dangerous game. Before participating in any investment decisions, one should carefully assess the risks rather than blindly follow in the footsteps of celebrities.