Former New York City Mayor Eric Adams publicly promoted the NYC Token as part of a broader blockchain and digital asset initiative, though details about the token’s co-founders and governance have not been disclosed. The token launched with notable attention, and after listing on-chain data showed unusual liquidity movements, drawing scrutiny from market observers. Analysts warned that the project’s centralized structure could increase investor risk.
On-chain visualization firm Bubblemaps reported that wallets linked to the token deployer withdrew about $2.5 million in USDC near price highs, then redeployed roughly $1.5 million after the price fell more than 60 percent. LookOnChain likewise found that near price highs, about $3.18 million in USDC was removed from the liquidity pool, fueling panic selling and substantial intraday losses for at least one trader.
Solana-based NYC Token has a total supply of 1 billion tokens. About 70% of that supply is designated as the NYC Token Reserve and excluded from initial circulating supply.
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