加密貨幣的嘉年華賭場時代捲土重來

唐納德·川普當選引發了更廣泛的比特幣投資浪潮。它在創造百萬富翁的同時也可能傷害他人

The cryptocurrency market has seen a new wave of interest in memecoins, which are often created quickly and named after viral internet memes. These coins have seen incredible gains, with some rising by 10 times in a matter of hours. However, experts warn that these coins are highly risky and could disappear just as quickly as they appeared.

加密貨幣市場掀起了對模因幣的新一輪興趣，模因幣通常會快速創建並以病毒式互聯網模因命名。這些代幣的漲幅令人難以置信，有的在幾個小時內就上漲了 10 倍。然而，專家警告說，這些代幣風險很高，可能會像它們出現一樣迅速消失。

Memecoins are a recent phenomenon in the cryptocurrency world. They are typically created quickly and named after viral internet memes. Despite having no clear use case or value proposition, these coins have seen incredible gains, with some rising by 10 times in a matter of hours.

Memecoin 是加密貨幣世界中最近出現的現象。它們通常創建得很快，並以病毒式網路迷因命名。儘管沒有明確的用例或價值主張，這些代幣卻取得了令人難以置信的收益，有些代幣在幾個小時內就上漲了 10 倍。

However, experts warn that these coins are highly risky and could disappear just as quickly as they appeared. They also add that many of these coins appear to be scams, designed to enrich the creators at the expense of unsuspecting traders.

然而，專家警告說，這些代幣風險很高，可能會像它們出現一樣快地消失。他們還補充說，其中許多代幣似乎都是騙局，旨在以犧牲毫無戒心的交易者為代價來讓創造者致富。

One of the most popular memecoins is Fartcoin, which was created after a story about a New York man keeping a squirrel without permission went viral. Named after the Peanut the Squirrel incident, PNUT coin saw gains of up to 90% at one point.

最受歡迎的模因幣之一是“屁幣”，它是在一名紐約男子未經許可飼養松鼠的故事瘋傳後創建的。 PNUT 幣以鬆鼠花生事件命名，一度漲幅高達 90%。

According to blockchain data, at least one holder of the coin is sitting on nearly half a billion dollars. However, PNUT coin has also seen a sharp decline from its peak value of $2.47 as the news story has faded from view.

根據區塊鏈數據，至少有一個代幣持有者坐擁近 5 億美元。然而，隨著新聞報道的消失，PNUT 幣也從 2.47 美元的高峰大幅下跌。

Another memecoin, Hawk coin, was released earlier this month by Haliey Welch, a Tennessee woman who has parlayed a viral lewd street interview into a successful podcast. Over the course of 24 hours, Hawk’s market cap peaked at $500 million before collapsing to $28 million.

另一種模因幣——Hawk coin，是由田納西州女性哈莉·韋爾奇(Haliey Welch) 於本月早些時候發布的，她將一次病毒式傳播的猥褻街頭採訪變成了一個成功的播客。在 24 小時內，Hawk 的市值達到了 5 億美元的峰值，然後跌至 2,800 萬美元。

The dramatic losses in funds led to complaints, which were not independently verified by NBC News. Facing accusations of insider trading, Welch released a statement saying neither she nor anyone on her team had sold the coins.

資金的巨大損失引發了投訴，但 NBC 新聞並未對此進行獨立核實。面對內線交易的指控，韋爾奇發表聲明稱，她和她團隊中的任何人都沒有出售這些代幣。

She instead blamed “sniper” algorithmic bots, which are designed to sell as prices begin to surge, for the price dump and losses.

相反，她將價格暴跌和損失歸咎於「狙擊手」演算法機器人，這些機器人旨在隨著價格開始飆升而出售。

Bautista said that indeed algorithmic trading, which has long been part of mainstream trading on Wall Street, is now routinely deployed in the memecoin space.

Bautista 表示，事實上，演算法交易長期以來一直是華爾街主流交易的一部分，現在已經在 memecoin 領域常規部署。

He estimates that of the top-20 traded coins in crypto, half are memecoins whose trades are almost entirely driven by bots designed to spot and respond to price movements.

他估計，在加密貨幣交易量排名前 20 的代幣中，有一半是迷因幣，其交易幾乎完全由旨在發現和響應價格變動的機器人驅動。

“It’s gotten to the point where the coins are created, listed, and traded within hours. And because they are worthless, you’re betting on the ‘greater fool,’” said Bautista.

「現在已經到了代幣在數小時內創建、上市和交易的地步。因為它們毫無價值，所以你把賭注押在『更大的傻瓜』身上，」包蒂斯塔說。

“You’re thinking, ‘I’m early to this, someone will buy the bags.’ But there’s no underlying driver of its value.”

“你會想，’我來得太早了，有人會買這些包的。’”但其價值沒有根本驅動因素。

According to Bautista, some memecoins are also not legally able to be purchased from U.S. soil on most of the crypto exchanges that offer them.

根據 Bautista 的說法，一些 memecoin 也無法在大多數提供這些 memecoin 的加密貨幣交易所合法地從美國境內購買。

Many of the memecoins are also created on a website called Pump.fun, which allows users to “launch a coin that is instantly tradeable in one click for free.”

許多 memecoin 也是在一個名為 Pump.fun 的網站上創建的，該網站允許用戶「推出一種只需點擊一下即可立即免費交易的硬幣」。

Launched in January 2024, the site has generated over $288.4 million in revenue since its inception, according to analytics data cited by CoinTelegraph, a crypto industry publication.

根據加密行業出版物 CoinTelegraph 引用的分析數據，該網站於 2024 年 1 月推出，自成立以來已產生超過 2.884 億美元的收入。

Earlier this month, the United Kingdom’s Financial Conduct Authority said the website was not authorized in the country and warned anyone who interacted with a product or service associated with the site had no investor protections.

本月早些時候，英國金融行為監理局表示，該網站未經該國授權，並警告任何與該網站相關產品或服務互動的人都沒有投資者保護。

Despite this, the site's terms and conditions state that its provisions are governed by “the laws of England.” A spokesperson for the website was not immediately available for comment.

儘管如此，該網站的條款和條件規定其規定受“英格蘭法律”管轄。未能立即聯繫到該網站發言人發表評論。

It may be the digital Wild West, but some tools have been developed to help nonsavvy memecoin participants avoid outright scams.

這可能是數位狂野西部，但已經開發了一些工具來幫助不精明的模因幣參與者避免徹底的騙局。

A site called Rugcheck.xyz bills itself as capable of scanning memecoin ownership data to determine whether an actor or small group of actors are capable of putting their thumb on the scale of the market.

一個名為 Rugcheck.xyz 的網站自稱能夠掃描 memecoin 所有權數據，以確定一個參與者或一小群參與者是否有能力對市場規模做出判斷。

Pump.fun itself says it prevents “rugs,” or sudden price dumps, by making sure that any tokens it launches have no presales or small-batch allocations that would benefit insiders.

Pump.fun 本身表示，它透過確保其推出的任何代幣不進行有利於內部人士的預售或小批量分配來防止「地毯」或突然的價格暴跌。

It is not clear how much longer the current crypto “bull” cycle will last, but at least one analyst believes it is still in relatively early innings given likely developments next year.

目前尚不清楚目前的加密貨幣「多頭市場」週期將持續多久，但至少一位分析師認為，鑑於明年可能的發展，目前仍處於相對較早的階段。

These include potentially further reductions in interest rates by the Federal Reserve and the implementation of more crypto-friendly policies by the Trump administration.

其中包括聯準會可能進一步降低利率以及川普政府實施更加有利於加密貨幣的政策。

“There are lots of events in 2025 that can help drive bitcoin and crypto prices up further,” said Gracy Chen, CEO of crypto group Bitget, in an interview with NBC News.

加密貨幣集團 Bitget 執行長 Gracy Chen 在接受 NBC 新聞採訪時表示：“2025 年有很多事件可以幫助推動比特幣和加密貨幣價格進一步上漲。”

“In fact, Trump world has already shown signs of accelerating its embrace of cryptocurrencies. Bloomberg News reported on Friday that World Liberty Financial, a crypto project ‘inspired by Trump,’ has been buying millions of dollars worth of tokens beyond bitcoin, a sign that the decentralized finance lending platform could launch soon.”

事實上，川普世界已經顯示出加速擁抱加密貨幣的跡象。彭博新聞週五報導稱，「受川普啟發」的加密貨幣項目World Liberty Financial 一直在購買比特幣以外價值數百萬美元的代幣，這表明去中心化金融借貸平台可能很快就會推出。

Trump has been named as an eventual “financial beneficiary

川普被指定為最終的“經濟受益者”