在2024年，加密貨幣市場在其代幣的價值方面經歷了巨大的波動，尤其是在其完全稀釋的估值（FDV）方面。

假設絕對最大供應正在發揮作用，FDV被理解為代幣的總概念市值，那麼向公眾發布的所有代幣現在都在循環，或者很快就會流通。

In the dynamic cryptocurrency landscape of 2024, tokens have exhibited sharp swings in their worth, particularly when considering their Fully Diluted Valuation (FDV). FDV is defined as the total notional market cap of a token, assuming the absolute maximum supply is in play—meaning all of the tokens released to the public are now, or will shortly be, circulating.

在2024年的動態加密貨幣景觀中，令牌的價值急劇波動，尤其是在考慮其完全稀釋的估值（FDV）時。假設絕對最大供應正在發揮，FDV被定義為代幣的總概念市值，那麼向公眾發布的所有代幣現在都在循環，或者很快就會流通。

Moreover, examining how a token's FDV has changed from its launch to the present moment provides valuable insights into crypto market dynamics. This article will analyze several tokens that debuted in 2024, January to now, on the performance spectrum, some displaying strong upward swings and others encountering downward trends.

此外，研究令牌的FDV從發佈到當下是如何變化的，它為加密市場動態提供了寶貴的見解。本文將分析幾個在2024年1月至現在首次亮相的令牌，在性能範圍內，有些顯示出強烈的向上搖擺，而另一些則遇到了向下趨勢。

High Flyers: Tokens with Strong Demand and Tight Supply

高傳單：需求強勁和供應緊張的令牌

Some tokens have defied the odds, experiencing substantial increases in FDV. These tokens demonstrate how high demand combined with limited supply can propel FDV to new heights.

有些令牌違反了賠率，FDV的大幅增加。這些令牌表明，需求高的需求與供應有限可以將FDV推向新的高度。

1. Hyperliquid ($HYPE)

1。超流動性（$炒作）

– Launch FDV: $6.5B → Current FDV: $15.9B (+2.4x)

- 啟動FDV：$ 6.5B→當前FDV：$ 15.9B（+2.4X）

– Price Change: +145% | Market Cap Change: +120%

- 價格變化： +145％|市值變更： +120％

– Supply Dynamics: In converting demand to growth in FDV, Hyperliquid has managed to control very tightly its circulating supply. It has dropped from 370 million to 333 million circulating tokens only very recently, and in fact, if we might call it that, expect a Maiden Voyage drop into this tokenomics space to happen over the next 1 year.

- 供應動態：在將需求轉換為FDV增長時，Hyproliquid設法控制了其循環供應。它直到最近才從3.7億美元下降到3.33億循環代幣，實際上，如果我們這樣稱呼，預計在接下來的一年中，少女的航行會下降。

– Future Emissions: 11.88% of the circulating supply, valued at $662 million USD at the last check, will unlock over the next year.

- 未來的排放：在上一張支票中，循環供應量的11.88％將在明年上解鎖。

2. Ondo ($ONDO)

2。 ondo（$ ondo）

– Launch FDV: $2.2B → Current FDV: $8.2B (+3.7x)

- 啟動FDV：$ 2.2B→當前FDV：$ 8.2B（+3.7倍）

– Price Change: +273% | Market Cap Change: +728%

- 價格變化： +273％|市值變更： +728％

– Supply Dynamics: Ondo’s circulating supply has more than doubled, from 1.43 billion to 3.17 billion tokens due to large supply unlocks. Despite this, demand has been strong enough to propel the FDV up 3.7 times, showcasing how the market has absorbed the additional supply.

- 供應動態：由於供應大量供應，Ondo的循環供應已翻了一番以上，從14.3億到31.7億代幣。儘管如此，需求仍然足夠強大，可以推動FDV上升3.7倍，展示了市場如何吸收額外的供應。

– Future Emissions: 61.4% of the circulating supply, worth $1.7 billion, will unlock in a cliff event over the next year, which could impact price stability.

- 未來的排放：循環供應量的61.4％，價值17億美元，將在明年的懸崖活動中解鎖，這可能會影響價格穩定性。

3. Celestia ($TIA)

3。 Celestia（$ tia）

– Initial FDV: $2.3B → Current FDV: $3.9B (+70%)

- 初始FDV：$ 2.3B→當前FDV：$ 3.9B（+70％）

– Price Change: +52% | Market Cap Change: +206%

- 價格變化： +52％|市值變更： +206％

– Supply Dynamics: The supply of Celestia has increased steadily, with controlled releases and consistent demand that have driven growth in the fair value to decentralize. The supply grew from 267 million tokens to 537 million tokens over time. This unlocks gradually and steadily, which seems like a ‘slow-release’ supply. But we don’t see any sign so far of it being a supply problem (with price). So actually, the release and the price seem okay.

- 供應動態：Celestia的供應穩步增長，受控發行和一致的需求促使公允價值的增長以分散。隨著時間的推移，供應從2.67億個代幣增加到5.37億個令牌。這逐漸穩定地解鎖，這似乎是“緩慢釋放”的供應。但是，到目前為止，我們看不到任何跡像是一個供應問題（帶有價格）。因此，實際上，發布和價格似乎還可以。

– Price Outlook: Over the next year, a little more than half of the currently circulating tokens will unlock in a linear fashion. That could be a problem for the price of Celestia. But will it be? Who knows?

- 價格前景：在明年，目前流通的代幣中有一半以上將以線性方式解鎖。這可能是Celestia價格的問題。但是會嗎？誰知道？

The Plungers: When Supply Exceeds Demand

柱塞：當供應超過需求時

In contrast to the performance of some tokens, others have seen their Fully Diluted Valuation (FDV) suffer due to an oversupply that has outstripped demand. These tokens demonstrate the dangers of overissuance and the difficulty of maintaining post-hype market interest.

與某些令牌的性能相反，其他人則看到其完全稀釋的估值（FDV）由於超出需求的過度供應而遭受的損失。這些令牌表明了過度發電的危險和保持後型市場興趣的困難。

4. Dymension ($DYM)

4。 dymension（$ dym）

– Launch FDV: $4.7B → Current FDV: $364M (-92%)

- 啟動FDV：$ 4.7B→當前FDV：3.64億美元（-92％）

– Price Change: -92% | Market Cap Change: -86%

- 價格變化：-92％|市值變更：-86％

– Supply Dynamics: Dymension’s circulating supply increased rapidly, from 146 million to 258 million tokens. This excessive unlock of tokens has crushed demand, leading to a dramatic 92% drop in price and a corresponding 86% fall in market cap.

- 供應動態：Dymension的循環供應迅速增加，從1.46億個令牌增加到2.58億個令牌。過度解鎖令牌的需求破壞了需求，導致價格下降了92％，市值下降了86％。

– Future Emissions: Dymension faces a significant linear unlock of 83.42% of the circulating supply over the next year, which could further pressure its price.

- 未來的排放：同意在明年的循環供應量的83.42％面臨著顯著的線性解鎖，這可能會進一步向其價格施加壓力。

5. Wormhole ($W)

5。蟲洞（$ W）

– Launch FDV: $13.3B → Current FDV: $1.1B (-92%)

- 啟動FDV：$ 13.3B→當前FDV：$ 1.1B（-92％）

– Price Change: -92% | Market Cap Change: -87%

- 價格變化：-92％|市值變更：-87％

– Supply Dynamics: Wormhole’s circulating supply grew by 61%, from 1.8 billion to 2.9 billion tokens. Despite initial hype, the oversupply led to a

- 供應動態：蟲洞的循環供應增長了61％，從18億到29億代幣。儘管最初炒作，但供過於求的導致了