代幣解鎖和比特幣分配導致加密貨幣市場暴跌

由於大量代幣解鎖和比特幣分配，加密貨幣市場面臨下行壓力。未來十週內價值近 20 億美元的代幣解鎖可能會減少山寨幣市場。此外，價值超過 110 億美元的比特幣將分配給 Gemini 和 Mt. Gox 的債權人。這些事件以及恐懼、不確定性和懷疑 (FUD) 正在給市場帶來壓力。同時，即將到來的 FTX 還款可能會為市場注入流動性，從而帶來一些緩解。

Crypto Markets Reel Under Pressure as Unlocks and Distributions Weigh Heavy

由於解鎖和分配的壓力很大，加密貨幣市場面臨壓力

Amidst an ongoing corrective phase, the cryptocurrency market is facing further downward pressure from a barrage of token unlocks and Bitcoin distributions, totaling billions of dollars. These events threaten to prolong any meaningful recovery.

在持續的調整階段，加密貨幣市場正面臨一系列代幣解鎖和比特幣分配的進一步下行壓力，總計數十億美元。這些事件可能會延長任何有意義的復甦。

Token Unlocks: Altcoins Under Siege

代幣解鎖：山寨幣陷入圍攻

10x Research, a crypto analytics firm, warns that nearly $2 billion worth of token unlocks in the next ten weeks could trigger a sell-off in the altcoin market. Token unlocks involve the release of assets previously held in vesting contracts, increasing supply and potentially reducing value.

加密分析公司 10x Research 警告稱，未來十週內價值近 20 億美元的代幣解鎖可能會引發山寨幣市場的拋售。代幣解鎖涉及釋放先前在歸屬合約中持有的資產，增加供應並可能降低價值。

Over the next two months, large token unlocks are expected for various projects, including Aptos (APT), Starkware (STRK), Arbitrum (ARB), Immutable X (IMX), Avalanche (AVAX), Optimism (OP), PRIME, Sui (SUI), Ethena (ENA), Altlayer's ALT, and XAI. These unlocks could flood the market with an additional $97 million to $135 million of each token.

在接下來的兩個月裡，預計各種項目將有大量代幣解鎖，包括Aptos (APT)、Starkware (STRK)、Arbitrum (ARB)、Immutable X (IMX)、Avalanche (AVAX)、Optimism (OP )、PRIME、Sui (SUI)、Ethena (ENA)、Altlayer 的 ALT 和 XAI。這些解鎖可能會為市場帶來額外的 9,700 萬至 1.35 億美元的代幣價值。

10x Research suggests that venture capital investors holding unlocked tokens may face pressure to lock in gains, which could stifle further appreciation of these assets.

10x 研究表明，持有未鎖定代幣的風險資本投資者可能面臨鎖定收益的壓力，這可能會抑制這些資產的進一步升值。

Bitcoin Distribution: Over $11 Billion in Creditor Payouts

比特幣分配：債權人支付超過 110 億美元

In a separate report, K33 Research analyst Velte Lunde raises concerns over the distribution of over $11 billion worth of Bitcoin (BTC) to creditors of crypto exchange Gemini's Earn program and the defunct Mt. Gox marketplace.

在另一份報告中，K33 Research 分析師Velte Lunde 對將價值超過110 億美元的比特幣(BTC) 分配給加密貨幣交易所Gemini 的Earn 計劃和已不復存在的Mt. Gox 市場的債權人表示擔憂。

Lunde warns that these distributions could trigger a surge in "FUD" (fear, uncertainty, and doubt) in the crypto market. However, Arthur Cheong, founder and chief investment officer of DeFiance Capital, offers some optimism.

倫德警告說，這些分佈可能會引發加密市場中「FUD」（恐懼、不確定性和懷疑）的激增。然而，DeFiance Capital 創辦人兼首席投資長 Arthur Cheong 對此表示樂觀。

FTX Repayments: A Potential Lifeline

FTX 還款：潛在的生命線

Cheong believes that the upcoming repayments from FTX's bankruptcy proceedings could provide some relief to the crypto market. Approximately $14-$16 billion in U.S. dollars is expected to be paid out to creditors, and a portion of this may flow back into the crypto space.

Cheong 認為，FTX 破產程序即將償還的款項可能會為加密貨幣市場帶來一些緩解。預計將向債權人支付約 140-160 億美元，其中一部分可能會回流到加密貨幣領域。

Market Performance: Gloomy Wednesday

市集表現：週三悲觀

On Wednesday, the broader CoinDesk 20 Index slumped by 3.4% over the past 24 hours. Bitcoin declined by 2.5% to $61,500, while Ethereum (ETH) shed 3.6%. Bitcoin Cash (BCH) and Solana (SOL) witnessed the steepest losses, plummeting by over 7%.

週三，更廣泛的 CoinDesk 20 指數在過去 24 小時內下跌了 3.4%。比特幣下跌 2.5%，至 61,500 美元，以太幣 (ETH) 下跌 3.6%。比特幣現金 (BCH) 和 Solana (SOL) 的跌幅最大，暴跌超過 7%。

Conclusion

結論

The cryptocurrency market remains under pressure as a wave of token unlocks and Bitcoin distributions looms on the horizon. These events could exacerbate supply and demand imbalances, leading to further price declines. However, the potential injection of liquidity from FTX repayments may provide some respite. For now, caution and risk management are prudent strategies as the market navigates these headwinds.

隨著一波代幣解鎖和比特幣發行浪潮即將到來，加密貨幣市場仍然面臨壓力。這些事件可能會加劇供需失衡，導致價格進一步下跌。然而，FTX 還款帶來的潛在流動性注入可能會帶來一些喘息的機會。目前，隨著市場應對這些逆風，謹慎和風險管理是審慎的策略。