Key Takeaways
- NYC Token, endorsed by ex-mayor Eric Adams, noticed an 80% worth drop shortly after its launch.
- The token’s preliminary valuation of $730 million plunged to $111 million in hours.
Share this text
NYC Token, a Solana-based crypto token launched by ex-New York mayor Eric Adams, misplaced over 80% of its worth shortly after it hit the market.
In accordance with GeckoTerminal knowledge, the NYC Token soared to a $730 million valuation however plummeted to $90 million in lower than an hour. It has now recovered previous $110 million.
Adams unveiled the coin throughout a press convention in Instances Sq. on Monday, describing it as a “commemorative asset.”
Proud to launch @buynyctoken, a brand new token constructed to battle the fast unfold of antisemitism and anti-Americanism throughout this nation and now in New York Metropolis.
Now dwell at 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 challenge embodying New York Metropolis’s innovation, variety, and drive. The token has a complete provide of 1 billion tokens, with 80 million tradeable at launch, and plans to develop to 300 million in circulation.
In accordance with the challenge’s said mission, a portion of proceeds can be earmarked for youth crypto schooling, anti-hate packages, and scholarships for underserved college students.
Nonetheless, key particulars just like the challenge’s companions and its whitepaper are lacking from the challenge web site, and critics have raised moral considerations.
BubbleMaps has flagged uncommon liquidity pool exercise tied to the NYC Token challenge, together with $1 million cycled out and in and an unexplained $2.5 million USDC elimination on the peak.
Analysts word that this habits is paying homage to the LIBRA launch, the place liquidity was closely manipulated.
4/ There was no rationalization for these liquidity strikes.
That is sadly paying homage to the $LIBRA launch, the place liquidity was additionally closely manipulatedhttps://t.co/8Ufc7sIYNB
— Bubblemaps (@bubblemaps) January 13, 2026
Adams, generally known as the “Bitcoin Mayor” for his advocacy of digital belongings and blockchain, final yr established town’s Workplace of Digital Belongings and Blockchain, a first-of-its-kind initiative to advertise adoption, funding, and schooling within the sector and strengthen NYC’s position within the world crypto ecosystem.
His tenure ended on December 31, 2025, and he was succeeded by Zohran Mamdani. One in all Mamdani’s early actions was to restructure a number of of Adams’ initiatives, together with the digital belongings workplace.
