Vital factors
- The NYC token, championed by former Mayor Eric Adams, misplaced 80% in worth shortly after its launch.
- The preliminary valuation of the token was $730 million, but it surely plummeted to $111 million inside hours.
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NYC Token, a Solana-based crypto token launched by former New York Metropolis Mayor Eric Adams, misplaced over 80% of its worth shortly after hitting the market.
Based on Gecko terminal datathe NYC token’s valuation soared to $730 million, however plummeted to $90 million inside an hour. To this point, greater than $110 million has been recovered.
Adams introduced the coin at a press convention in Instances Sq. on Monday, describing it as a “commemorative asset.”
I am proud to launch @buynyctokena brand new token constructed to fight the speedy unfold of anti-Semitism and anti-Americanism throughout this nation and now in New York Metropolis.
At the moment residing in https://t.co/zowY9Ri3aK pic.twitter.com/qBMzV88Tmj
— Eric Adams (@ericadamsfornyc) January 12, 2026
NYC Token is described on its web site as a community-driven undertaking that embodies New York Metropolis’s innovation, variety, and drive. The overall provide of this token is 1 billion tokens, with 80 million tokens out there for buying and selling at launch, and the circulation will enhance to 300 million tokens.
Based on the undertaking’s acknowledged mission, a portion of the proceeds will go towards youth cryptocurrency training, anti-hate packages, and scholarships for underserved college students.
Nonetheless, vital particulars corresponding to undertaking companions and whitepapers usually are not listed on the undertaking web site, and critics have raised moral issues.
BubbleMaps reported uncommon liquidity pool exercise associated to the NYC token undertaking, together with $1 million out and in and unexplained $2.5 million USDC removals at peak occasions.
Analysts say this motion is harking back to the launch of LIBRA, the place liquidity was closely manipulated.
4/ No rationalization is offered for these liquidity actions.
This sadly jogs my memory $Libra Launch the place liquidity was additionally closely manipulatedhttps://t.co/8Ufc7sIYNB
— Bubblemaps (@bubblemaps) January 13, 2026
Adams, referred to as the “Bitcoin Mayor” for his advocacy for digital property and blockchain, established the town’s Workplace of Digital Property final 12 months. blockchain, It is a first-of-its-kind initiative to foster adoption, funding, and training within the area and strengthen New York Metropolis’s position within the international cryptocurrency ecosystem.
His time period ended on December 31, 2025, and he was changed by Zoran Mamdani. One among Mamdani’s early actions was to restructure some organizations. Adams’ Initiatives together with the Digital Asset Workplace.
