加密貨幣市場最近充滿了波動性，尤其是一個令牌是令人不安的趨勢的核心：$ Melania。

Melania曾經被稱為加密球體的新興象徵，後來經歷了一種著名且看似不可逆轉的轉變

A recent sale and major losses by significant holders of $MELANIA offer a sobering glimpse of the volatility and unpredictability associated with the crypto market.

$ Melania $ Melania的近期銷售和重大損失使人們對加密市場相關的波動性和不可預測性令人醒目。

While $MELANIA was once a celebrated token in the crypto sphere, it has, as of late, undergone a notable and seemingly irreversible shift in sentiment, with big holders of the token reducing their positions and selling off significant amounts at considerable losses. Investor confidence has taken a nosedive, and that’s got the broader marketplace worried, particularly those who had poured considerable amounts of capital into $MELANIA. Two particularly noteworthy trades among $MELANIA investors have opened the eyes of market observers to how fast and how far fortunes can fall when something as fundamental as investor confidence goes off the rails. These events spotlight how precarious the current market is for any set of collective tokens—let alone set using a novel, unproven mechanism like the one underpinning $MELANIA.

儘管$ Melania曾經是加密貨幣領域中著名的令牌，但最近它經歷了一種著名且看似不可逆轉的情感轉變，代幣的大持有人減少了他們的位置並以相當大的損失出售。投資者的信心使人們感到卑鄙，這使得更廣泛的市場感到擔憂，尤其是那些將大量資本投入$ Melania的人。 $ Melania投資者中的兩項特別值得注意的交易使市場觀察家的目光睜開了，因為當投資者信心脫離軌道上的基本基礎時，財富的速度和貨物能夠下降多遠。這些事件聚焦於當前市場對任何集體代幣的不穩定 - 單獨使用一種尚未實現的機制（如$ Melania的基礎）設置。

Significant Losses From Major Wallets

主要錢包的重大損失

One of the downturn’s most striking examples comes from the wallet address DNTpoX…LN2A, which had bought 13.97 million $MELANIA tokens for an incredible $30 million in USDC just one month ago. However, this position was sold off just yesterday for $14.32 million, resulting in a staggering loss of $15.68 million. This sharp drop reflects the broader trend of investors fleeing the token as it continues to underperform in the market.

經濟低迷的最引人注目的例子之一來自錢包地址dntpox…LN2A，它在一個月前就購買了1397萬美元的梅拉尼亞代幣，以令人難以置信的3000萬美元的價格購買了3000萬美元。但是，該職位僅昨天以1432萬美元的價格被賣掉，導致了1568萬美元的驚人損失。這種急劇下降反映了投資者在市場表現不佳的情況下逃離代幣的更廣泛趨勢。

The enormous size of the loss highlights how fast things can change in the unstable world of cryptocurrency. An investment position of $30 million was reduced to only $14.32 million over just one month—a truly awful result for the investor. And we are left to wonder what might happen next: Can the token come back from this loss, or is it starting to trend down over the longer term, a decline that will impact others holding $MELANIA?

損失的巨大尺寸突出了不穩定世界中的速度可以改變的速度。在短短一個月內，投資頭寸的3000萬美元僅減少到1432萬美元，這對投資者來說是一個真正可怕的結果。我們要想知道接下來會發生什麼：代幣可以從這種損失中恢復過來，還是從長遠來看會開始趨勢，這會影響其他持有$ Melania的人？

In a comparable situation, wallet Gu2bnm…xmni acquired 6.69 million $MELANIA tokens for $10 million in USDC only 22 days ago. But in the past two days, the same investor has sold off 6.27 million of those tokens, returning just $6.27 million for them. That means the investor took a $3.73 million loss as part of the transaction. Another way to look at it is that the offloading has resulted in the $MELANIA token now appearing to be on life support.

在可比的情況下，Wallet Gue2BNM…XMNI僅22天前以1000萬美元的價格收購了669萬美元的Melania代幣。但是在過去的兩天中，同一投資者已經賣出了627萬個代幣，僅返還了627萬美元。這意味著投資者在交易的一部分中損失了373萬美元。另一種看待它的方法是，卸載導致了現在的$ Melania代幣，現在似乎正在享受生命支持。

Big losses for these traders—seems like confidence in #MELANIA is fading.Recently, major holders have offloaded their $MELANIA positions, taking heavy losses: pic.twitter.com/CrYE4Z4pvc

這些交易員的巨大損失 - 似乎對#Melania的信心正在消失。絕對，主要持有人已經卸載了他們的$ Melania職位，承擔了沉重的損失：pic.twitter.com/cryee4z4pvc

— EyeOnChain 🔶 (@EyeOnChain) February 26, 2025

- 眼鏈🔶（@eyeonchain）2025年2月26日

While this loss is not as big as the first case, it still reflects a significant decrease in value over a very short period. Here is what our token holders are grappling with: They had hoped for a quick return on their investment in MELANIA, and now they’re dealing with the news that our coin is not a stable investment and, much to our chagrin, is losing value a lot faster than we wanted or expected.

儘管這種損失不如第一種情況大，但它仍然反映出在很短的時間內價值的顯著下降。這是我們的代幣持有人正在努力的努力：他們希望快速對梅拉尼亞的投資回報，現在他們正在處理這樣的消息，即我們的硬幣不是穩定的投資，而且對於我們的cha惱而造成的價值比我們想要或期望的要快得多。

The Erosion of Confidence in $MELANIA

對$ Melania的信心侵蝕

These considerable losses are a mirror of a larger trend of dwindling confidence in $MELANIA. The token’s not coming near what it initially promised has probably sent many investors running for the hills. The early investors and the large-sum investors likely being the first in line, spooked by the returns we’ve seen to this point.

這些巨大的損失是對$ Melania信心減少的更大趨勢的鏡子。代幣並沒有接近它最初承諾的，這可能會使許多投資者奔跑於山丘上。早期的投資者和大型投資者可能是第一個排隊的人，這是我們到目前為止所看到的回報所嚇到的。

And yes, while it’s no surprise that our old friends risk and tolerance are prevalent in the crypto space, some fairly lasting sentiment impacts should also be mentioned when talking about what these losses might do to morale going forward.

是的，雖然我們的老朋友的風險和寬容在加密貨幣空間中普遍存在也就不足為奇了，但在談論這些損失可能對士氣造成什麼影響時，也應提及一些相當持久的情感影響。

The sales’ timing strongly suggests that a number of traders were counting on a short-term uptick in prices. When that didn’t happen—when, instead, prices seemed destined to keep falling—these traders, across the two aforementioned wallets, cut their losses. In the long run, the $26.4 million worth of Bitcoin sold across those two wallets won’t make much of a difference to the overall price of Bitcoin. But their price-recovery hopes recently suggest a not-so-rosy picture for crypto traders.

銷售的時機強烈表明，許多交易者正在依靠價格上漲。當這種情況沒有發生時（相反，當價格注定要一直在下跌時），這些交易員，遍布上述兩個錢包，削減了損失。從長遠來看，在這兩個錢包中售出的價值2640萬美元的比特幣與比特幣的整體價格沒有太大影響。但是他們的價格恢復希望最近向加密貨幣交易者展示了一幅不太艱難的情況。

Moreover, the market’s response to these divestitures may be causing $MELANIA’s price to drop even more steeply. When significant holders of a token announce that they are liquidating a large portion of their holdings, it tends to instill fear in other investors. This fear can lead to a broad sell-off, with more and more investors opting to get out of the token as the price appears to be in free fall. If the token hasn’t already lost most of its market momentum, this scenario tends to accelerate the downward price movement and create a tough-to-reverse

此外，市場對這些剝離的反應可能導致梅拉尼亞的價格更加陡峭。當一個代幣的重要持有人宣布他們正在清算其大部分股份時，它往往會向其他投資者灌輸恐懼。這種恐懼會導致廣泛的拋售，越來越多的投資者選擇擺脫代幣，因為價格似乎是自由跌倒的。如果令牌尚未失去大部分市場動力，則這種情況往往會加速下降價格的轉移，並創造出很難反向的情況