FTX還款向債權人開始，但加密市場反應負面反應

經過幾個月的等待，FTX還清債權人終於開始了。然而，儘管人們普遍認為這將是看漲的信號，但加密貨幣市場如今仍處於紅色狀態。

Months after the major crypto exchange FTX collapsed and filed for bankruptcy, its creditors have finally begun receiving their long-awaited repayments. However, despite expectations that this would be a bullish signal for the crypto markets, digital assets are broadly down on the day.

主要加密交易所FTX倒閉併申請破產幾個月後，其債權人終於開始收到期待已久的還款。但是，儘管期望這對加密貨幣市場來說是看漲的信號，但當天數字資產大致下降。

The exchange’s defunct FTT token did briefly spike, continuing to gain in conjunction with the major repayment announcement. However, the token fell sharply as analysts struggled to make a clear prediction for the future direction of the بازار.

該交易所已解決的ftt代幣確實短暫地飆升，並繼續與重大還款公告一起獲得。然而，隨著分析師努力為بزز援者的未來方向做出明確的預測，代幣急劇下降。

FTX Repayments Finally Arrive

FTX還款終於到達

When FTX collapsed in 2022, it sent shockwaves throughout the entire industry and caused billions of dollars in losses for its users.

當FTX在2022年倒閉時，它在整個行業中派出了衝擊波，並為其用戶造成了數十億美元的損失。

The fallout from the crash itself has largely subsided, but one key issue that has remained throughout the entire process is the matter of creditor reimbursements.

墜機本身的後果在很大程度上消退了，但是在整個過程中仍然存在的一個關鍵問題是債權人報銷的問題。

After months of waiting, a development on this front has finally been realized. Former FTX users have begun reporting that their repayments are finally arriving.

經過幾個月的等待，這方面的發展終於實現了。前FTX用戶已經開始報告他們的還款終於到了。

However, a concerning trend may be forming in the markets today. Most members of the crypto community assumed that, as FTX began the process of issuing repayments, this would serve as a bullish incentive.

但是，當今市場可能會形成有關趨勢。加密社區的大多數成員都認為，隨著FTX開始發行還款的過程，這將是看漲的激勵措施。

In essence, this initial phase of repayments would be injecting roughly $1.2 billion in liquidity into the بازار, and it would be going directly into the hands of veteran traders. By all accounts, this should help to bolster asset prices.

從本質上講，最初的還款階段將向ززز援者註入大約12億美元的流動性，它將直接落入資深商人的手中。從所有人的角度來看，這應該有助於提高資產價格。

The FTX repayments have begun, but the بازار is showing anything but bullish price action. The platform’s defunct token, FTT, recently bucked the بازار by gaining while the largest assets declined.

FTX還款已經開始，但是除了看漲的價格行動外，其他任何東西都顯示出任何東西。該平台已通知的令牌FTT最近通過獲得的，而最大資產下降，從而震驚了這些平台。

FTT briefly spiked in accordance with this trend, but it already sank back down. Meanwhile, the largest crypto assets are posting uniformly negative returns.

FTT根據這一趨勢短暫地峰值，但它已經沉沒了。同時，最大的加密資產正在發布統一的負回報。

Several prominent industry analysts have already reacted with alarm to this development. Theoretically, the FTX repayments were supposed to herald an altcoin season.

幾位著名的行業分析師已經對這一發展感到驚訝。從理論上講，FTX還款本來應該為Altcoin季節預示。

Users were being repaid based on the value of their tokens in 2022, with an attached interest rate. This would generally be lower than their rate of growth, encouraging future investment.

用戶根據其代幣的價值在2022年的價值償還，並附有利率。這通常低於其增長率，鼓勵未來的投資。

“These are some of the trickiest conditions to navigate in a long, long time,” the analyst Miles Deutscher said in a series of social media posts.

分析師Miles Deutscher在一系列社交媒體帖子中說：“這些是在很長一段時間內導航的最棘手條件。”

“This feels more like a paradigm shift than a capitulation bottom. The amount of bullish news we’re getting right now is insane. A few months ago we’d be flying on headlines like these. But it can’t even budge markets. Just shows how demand has dried up.”

“這感覺更像是范式的轉移，而不是投降底部。我們現在得到的看漲新聞是瘋狂的。幾個月前，我們將登上這樣的頭條新聞。但這甚至無法放鬆市場。只是說明需求如何干燥。”

A few factors might explain this lack of momentum. First of all, the crypto markets are very chaotic at the moment, and existing bearish momentum hasn’t helped anything.

一些因素可能解釋了這種缺乏動力。首先，加密貨幣市場目前非常混亂，現有的看跌勢頭並沒有任何幫助。

Second, meme coins have swallowed a lot of altcoin demand, dampening enthusiasm for many token projects. Investors that may have chosen these altcoins in 2022 have other plans today.

其次，Meme硬幣吞沒了許多Altcoin需求，對許多令牌項目造成了損害的熱情。可能在2022年選擇這些Altcoins的投資者今天還有其他計劃。

Above all, however, we’re in an unprecedented moment. Last year, the Bitcoin ETFs caused the halving to break trends present in all prior halvings.

但是，最重要的是，我們處於空前的時刻。去年，比特幣ETF導致在所有先前的過度中間的趨勢中的一半打破趨勢。

Since then, institutional investment in crypto has flown to all-time highs, and we live in a world of billion-dollar scams. The FTX repayments didn’t cause the desired effect, and nobody knows their actual impact. It’s all in the air.

從那時起，對加密貨幣的機構投資已飛向歷史最高點，我們生活在十億美元的騙局中。 FTX還款並沒有引起預期的效果，沒有人知道它們的實際影響。一切都在空中。