人工智慧代理商的炒作尚未結束

近期，AI代理板塊代幣普遍回調。根據GMGN數據，Base生態中主流的AI Agent代幣

Author: Odaily Planet Daily, Golem

作者：Odaily星球日報、Golem

Recently, the tokens in the AI Agent sector have generally retraced.

近期，AI代理板塊代幣普遍回調。

According to GMGN data, the mainstream AI Agent tokens in the Base ecosystem, VIRTUAL, have seen a 7-day decline of over 39%, AIXBT over 20%, GAME over 30%, and LUNA over 50%; in the Solana ecosystem, the mainstream AI Agent tokens ai16z have seen a 7-day decline of over 45%, ELIZA over 48%, and swarms and ARC over 38%.

GMGN數據顯示，Base生態中主流AI代理代幣VIRTUAL連續7天跌幅超39%，AIXBT超20%，GAME超30%，LUNA超50%； Solana 生態中，主流 AI Agent 代幣 ai16z 7 天跌幅超過 45%，ELIZA 跌幅超過 48%，Swarms 和 ARC 跌幅超過 38%。

Since GOAT initiated a new model combining AI and Crypto, and with ai16z and Virtuals promoting the narrative of crypto AI Agents, more than three months have passed. Therefore, many opinions in the market suggest that the hype around AI Agents has ended, and those who have not yet liquidated their positions have become the payers of this "feast," with some even comparing this round of AI Agent hype to a "faster-paced inscription craze."

自從 GOAT 發起人工智慧與加密貨幣結合的新模式，並透過 ai16z 和 Virtuals 推動加密人工智慧代理的敘述以來，已經過去了三個多月。因此，市場上不少觀點認為，圍繞AI Agent的炒作已經結束，那些尚未平倉的人成為了這場“盛宴”的買單者，甚至有人將本輪AI Agent炒作比作“更快”。節奏銘文熱潮。

Is the AI Agent hype nearing its end? The answer is not so.

AI Agent 的炒作是否已接近尾聲？答案並非如此。

What Stage Have AI Agents Reached?

AI智能體已經發展到什麼階段了？

It is undeniable that in investing, we must respect cycles, entering the market before it peaks and exiting gracefully before the hype fades. Currently, AI Agents are in a deep squat phase before a powerful jump.

不可否認，投資必須尊重週期，在市場見頂之前入場，在炒作消退之前優雅退出。目前，人工智慧代理正處於強力跳躍之前的深蹲階段。

The Impact of CEX on Prices Continues to Diminish

CEX對價格的影響持續減弱

From the perspective of market sentiment and liquidity, people generally view the listing of tokens on "the universe's largest exchange," Binance, as the endpoint for on-chain assets. When Binance lists a popular token from a sector, it signifies a dual peak in market sentiment and liquidity for that sector, and after a period of FOMO, the market will return to calm. However, in this round of AI Agent narratives, the impact of CEX listings on tokens may not be as significant as imagined.

從市場情緒和流動性的角度來看，人們普遍將代幣在「全球最大交易所」幣安的上市視為鏈上資產的端點。當幣安上線某個行業的熱門代幣時，意味著該行業的市場情緒和流動性達到雙高峰，經過一段時間的“FOMO”之後，市場將回歸平靜。然而，在這一輪AI Agent的敘述中，CEX上市對代幣的影響可能並沒有想像中的那麼大。

According to public information, Binance has launched perpetual contract trading for ai16z and swarms, and only listed AIXBT for spot trading on January 10. Although the listing of ai16z and swarms contracts initially caused market FUD leading to price drops, both subsequently rebounded; similarly, even after Binance announced the listing of AIXBT for spot trading, the price returned to normal levels after a brief period of FOMO.

公開資料顯示，幣安已上線ai16z和swarms永續合約交易，並於1月10日才上線AIXBT進行現貨交易。同樣，即使在幣安宣布 AIXBT 上線現貨交易後，價格在短暫的 FOMO 期後也恢復到正常水平。

According to Cointelegraph statistics, on January 7, the proportion of spot cryptocurrency trading volume on DEX exceeded 20% for the first time. As more people engage in on-chain trading, the influence of CEX on the prices of on-chain assets will continue to diminish.

根據Cointelegraph統計，1月7日，DEX上的現貨加密貨幣交易量佔首次超過20%。隨著越來越多的人參與鏈上交易，CEX對鏈上資產價格的影響力將持續減弱。

AI Agents Are the Metaverse of 2025

AI 代理是 2025 年的虛擬世界

The world went crazy for the metaverse in 2021, and in 2025, the world will go crazy for AI Agents.

2021 年，世界為虛擬宇宙而瘋狂，2025 年，世界將為人工智慧代理而瘋狂。

The metaverse in 2021 not only thrived in the web3 space but also sparked a wave in web2 internet companies, with the most notable event being social media giant Facebook rebranding to Meta, going all-in on the metaverse. In 2025, Nvidia resembles Meta of that year, attracting attention in the AI Agent wave. Nvidia's founder, Jensen Huang, mentioned in his keynote speech at CES 2025 that "over 30 million developers worldwide will have their own software assistants in the future, or they will fall behind their peers. Moreover, AI Agents are expected to become the next robotics industry, with an industry scale reaching trillions of dollars."

2021年的元宇宙不僅在web3領域蓬勃發展，也引發了web2網路公司的熱潮，其中最引人注目的事件是社群媒體巨頭Facebook更名為Meta，全力進軍元宇宙。 2025年，Nvidia就像當年的Meta一樣，在AI Agent浪潮中引起關注。英偉達創辦人黃仁勳在 CES 2025 的主題演講中提到，「未來全球超過 3,000 萬開發者將擁有自己的軟體助手，否則就會落後於同行。而且，AI Agent 有望成為下一個機器人」產業，產業規模達到萬億美元。

Web3 has always enjoyed combining with "hot narratives," from major tech industry trends to a squirrel killed in the U.S. The metaverse craze in 2021 gave birth to companies like Decentraland in web3, which, excluding derivative assets, had a peak token market cap exceeding $10 billion. However, neither ai16z nor virtuals have yet reached a market cap of $10 billion.

Web3 一直喜歡與「熱門敘事」結合，從重大科技產業趨勢到美國被殺的松鼠。幣市值高峰超過了100 億美元。然而，ai16z 和 virtuals 的市值都還沒有達到 100 億美元。

2025 is the year of the AI Agent explosion, and the traditional web2 tech industry's enthusiasm for it has not yet ended; web3 is just getting started.

2025年是AI Agent爆發年，傳統web2科技產業對其的熱情尚未結束； web3 才剛開始。

Are AI Agents a Faster-Paced Version of Inscriptions?

AI 代理是銘文的更快節奏版本嗎？

Additionally, there is a viewpoint in the market that understands AI Agents as a faster-paced version of inscriptions. There are indeed some similarities between the two, such as AI Agents being fairly distributed through the pump.fun model, similar to the fair minting of inscriptions; the framework competition among AI Agents resembles the asset issuance protocol competition in the Bitcoin ecosystem, where overall, there are not many significant differences between the frameworks, but there are subtle differences; and the quicker launch of better-narrative assets is akin to the rapid minting of popular inscription assets back in the day.

此外，市場上有一種觀點將人工智慧代理理解為更快節奏的銘文版本。兩者確實有一些相似之處，例如AI Agent透過pump.fun模型公平分配，類似於銘文的公平鑄造； AI Agent之間的框架競爭類似於比特幣生態中的資產發行協議競爭，總體而言，框架之間沒有太多顯著差異，但存在細微差別；更快地推出更好的敘事資產類似於當時流行的銘文資產的快速鑄造。

However, there are also differences between the two:

然而，兩者之間也存在差異：

Frankly speaking, Web3 indeed does not have an unchanging narrative; the AI Agent craze may fade, but at least

坦白說，Web3確實沒有一成不變的敘事；人工智慧代理熱潮可能會消退，但至少