AI代幣流水：一個完全混亂的市場

2024年，由人工智能支持的加密貨幣的迅速崛起表明，區塊鍊和AI之間的收斂性是決定性的轉折點。

The rapid rise of AI-backed cryptocurrencies in 2024 marked a pivotal moment in the convergence of blockchain and artificial intelligence (AI). Driven by market euphoria and enthusiasm for agentic AIs, these assets attracted massive capital inflows, propelling their valuation to record highs.

2024年，AI支持的加密貨幣的快速崛起標誌著區塊鍊和人工智能（AI）的收斂中的關鍵時刻。在市場欣喜和對代理AIS的熱情的推動下，這些資產吸引了大量資本流入，推動其估值紀錄高高。

However, the fervor quickly dissipated, and within months, some of these tokens lost up to 90% of their value. This collapse raises critical questions about the viability of these projects and the soundness of the market. Are investors simply witnessing a correction following a speculative surge, or could this be the beginning of a sustained disinterest?

但是，熱情很快消失了，在幾個月內，其中一些代幣損失了其價值的90％。這種崩潰引發了有關這些項目的可行性和市場健全性的關鍵問題。投資者是否只是在投機激增之後只是目睹更正，還是這可能是持續不滿的興趣的開始？

AI Tokens Adrift: A Market in Disarray

AI代幣流水：混亂的市場

The dizzying fall of AI tokens took many investors by surprise, given the abruptness of the decline. According to CoinGecko data, AI Rig Complex (ARC), ElizaOS (AI16Z), and Virtuals (VIRTUAL) have seen their market capitalization shrink by 75% to 90% since January. Even Fartcoin, a meme coin AI that garnered attention in 2024, plunged by 65% in 30 days and is now valued at only $430 million.

鑑於衰落的突然，AI代幣的令人眼花tap亂使許多投資者感到驚訝。根據Coingecko Data，AI鑽機綜合體（ARC），Elizaos（AI16Z）和虛擬（虛擬）自1月以來的市值下降了75％至90％。即使是Fartcoin，也是一種模因硬幣AI，在2024年引起了人們的關注，在30天內跌落了65％，現在價值僅為4.3億美元。

This bearish movement is part of a broader trend of contraction in the crypto market, which has lost 16% of its value since the start of the year. "If you look at the charts of AI16Z, ARC, or even Fartcoin, it's clear that the trend is down, and many believe these tokens will never regain their past levels," noted trader Elon Money in a post on the X platform (formerly Twitter) on February 6, 2025. This disillusionment underscores how emerging markets are subject to cycles of exuberance and correction, especially when speculative interest eclipses technological fundamentals.

這種看跌的運動是加密貨幣市場收縮趨勢的一部分，該市場自年初以來損失了其價值的16％。 “如果您查看AI16Z，Arc甚至Fartcoin的圖表，很明顯，趨勢已經下降，許多人認為這些代幣將永遠不會重新獲得過去的水平，” Trader Elon Money在X平台上的帖子（以前是Twitter）於2025年2月6日。這種幻滅強調了新興市場如何受到繁榮和糾正的周期，尤其是當投機性利益黯然失色時。

A Liquidity Shift Amplifying the Blow?

流動性轉移會放大打擊嗎？

Beyond natural market fluctuations, the decline of AI tokens appears to have been exacerbated by a major exogenous event: the launch of the TRUMP meme coin in January. This token, linked to the image of Donald Trump, quickly captured $80 billion in market capitalization within 24 hours. Such an influx drained the liquidity available for other emerging assets.

除了自然市場的波動之外，AI令牌的下降似乎也因重大的外源性事件而加劇了：一月份的特朗普模因硬幣的發射。這個與唐納德·特朗普（Donald Trump）的形象相關的令牌很快在24小時內捕獲了800億美元的市值。這種湧入耗盡了其他新興資產的流動性。

"The reason for this brutal liquidation is clear: liquidity is leaving the AI token market to go elsewhere," highlighted Crypto Stream in a post on social network X on January 31, 2025.

“這種殘酷清算的原因很明確：流動性正在離開AI代幣市場，” Crypto流在2025年1月31日的社交網絡X上的帖子中強調。

Meanwhile, political uncertainty has heightened investor skittishness. Recent statements by Donald Trump, threatening to impose 25% tariffs on Canada and Mexico, have sparked widespread panic in financial markets. In this climate, the most speculative cryptos were the first to feel the selling pressure. While major altcoins held up relatively well, smaller emerging projects, like AI tokens, were "literally massacred," according to Crypto Stream.

同時，政治不確定性增加了投資者的屈服。唐納德·特朗普（Donald Trump）的最新聲明威脅要對加拿大和墨西哥徵收25％的關稅，這引起了金融市場的普遍恐慌。在這種氣候下，最投機性的加密貨幣是第一個感受到銷售壓力的人。 Crypto Stream表示，雖然主要的Altcoins保持相對良好，但較小的新興項目（如AI代幣）被“屠殺”。

Contrasting Perspectives on the Future of AI Tokens

對AI令牌未來的對比的觀點

Despite the severity of the current correction, some experts believe these assets could rebound in the long term. "When you look at protocols like ElizaOS and Rig, you see strong teams, high-level partnerships, and integrations with major blockchains," stated Elon Money. The growing utility of agentic AIs, autonomous intelligences that interact with blockchains, suggests a future where these technologies will play a central role in the digital economy.

儘管目前的更正嚴重程度，但一些專家認為這些資產從長遠來看可以反彈。埃隆·貨幣（Elon Money）說：“當您查看Elizaos和Rig等協議時，您會看到強大的團隊，高級合作夥伴關係以及與主要區塊鏈的集成。”代理AIS，與區塊鏈相互作用的自主智能的效用越來越多，這表明了這些技術將在數字經濟中發揮核心作用的未來。

According to VanEck, the number of active autonomous AIs on blockchains could surpass 1 million by the end of this year, strengthening their impact on the crypto ecosystem. However, these projects must first demonstrate their viability and capacity to generate value beyond speculation to win over investors.

Vaneck認為，到今年年底，主動自主AIS的數量可能會超過100萬，從而增強了它們對加密生態系統的影響。但是，這些項目必須首先證明其生存能力和能力，以產生超出猜測以贏得投資者的價值的能力。

The Implosion of AI Tokens marks a critical juncture for this new class of assets. Some will view it as a necessary purge to cleanse a still-nascent market, while others may see it as a sign of premature enthusiasm. Either way, their future will hinge on their ability to offer concrete applications and prove they are not merely a passing trend.

AI代幣的內爆標誌著這一新資產的關鍵關頭。有些人將其視為清潔仍然暈已經市場的必要清除，而另一些人可能認為它是過早熱情的標誌。無論哪種方式，他們的未來都會取決於他們提供具體應用程序的能力，並證明它們不僅是過去的趨勢。