Fake DeepSeek token hits $48M market cap amid Chinese AI app hype
A Solana token carrying Chinese AI star DeepSeek’s name briefly rises to $48 million in market cap, but the company denies ever launching a cryptocurrency.
A Solana-based token named after the Chinese AI app DeepSeek briefly surged past a $48 million market capitalization on Jan. 27, fueled by $150 million in trading volume, according to Solana token data aggregator Birdeye.
Blockchain records show the token was created on Jan. 4, weeks before DeepSeek’s app made headlines by topping the US Apple App Store rankings.
The token’s valuation quickly cooled to $30 million at the time of writing despite efforts by its creators to link it to DeepSeek’s official X account and website. Over 22,000 wallets are still holding the token.
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Author: Yohan Yun
