Hayden Davis Linked to YZY Altcoin Sniping, $12M Profit
Onchain analysis by Bubblemaps suggests Hayden Davis may have orchestrated a $12M profit through rapid buying of the newly launched YZY altcoin. The analysis reveals that Davis’s $57 million fund was unfrozen a day before the launch, with multiple addresses on centralized exchanges funded in time to “snipe” the YZY altcoin immediately upon release. These addresses were linked to Davis via onchain analysis of CCTP transfers, funding transactions, and joint deposits. Bubblemaps identified 14 addresses that executed buys within one minute of the YZY altcoin announcement, netting roughly $12M. While no direct insider ties to the YZY team have been confirmed, Davis’s history of similar sniping operations on LIBRA and MELANIA projects raises fresh concerns over insider trading in altcoin launches. Traders should assess their exposure carefully amid heightened scrutiny of onchain activity in altcoin markets.
Bearish
Revelations of potential insider sniping by Hayden Davis are likely to weigh negatively on market sentiment for newly launched altcoins, making this news bearish. Similar past incidents—such as alleged sniping during the MELANIA and LIBRA launches—triggered rapid sell-offs as investors mistrust projects with suspected insider involvement. In the short term, traders may reduce bidding on new token launches and liquidate positions in tokens with questionable onchain activity. Over the long term, heightened scrutiny and possible regulatory interest could slow altcoin issuance and encourage stricter due diligence, further dampening speculative demand. While established cryptocurrencies may remain unaffected, the broader altcoin market may experience reduced momentum as confidence erodes.