Memecoins：數位資產的時尚還是未來？

幣安研究院最近公佈了對模因幣的深入分析，表明儘管這些代幣旨在反映關鍵的加密貨幣價值

Binance Research recently conducted an in-depth analysis on memecoins, revealing that although these tokens are designed to embody key crypto values like fairness, transparency, and decentralization, the vast majority have not stood the test of time.

幣安研究院最近對 memecoin 進行了深入分析，發現雖然這些代幣的設計初衷是體現公平、透明和去中心化等關鍵的加密價值，但絕大多數都沒有經受住時間的考驗。

According to the report, around 75% of all memecoins were created in the last year alone, but 97% of these newly created tokens now have fewer-to-no trades at all, rendering them “dead” coins. Despite garnering a lot of hype, it appears that memecoins have extremely high turnover rates and a high failure rate.

根據該報告，光是去年就創建了大約 75% 的迷因幣，但這些新創建的代幣中 97% 現在的交易量很少甚至根本沒有，這使得它們成為「死」幣。儘管獲得了許多炒作，但模因幣似乎具有極高的周轉率和很高的失敗率。

The instability in memecoins typically stems from “Memecoin Groups” that capitalize on retail traders in a pump-and-dump scheme. They artificially inflate the value of a coin and then cash out, leaving the rest at losses.

模因幣的不穩定性通常源於“模因幣集團”，它們透過拉高拋售計劃利用散戶交易者。他們人為地抬高代幣的價值，然後套現，讓其餘的人蒙受損失。

While blockchain transparency does allow for the ability to track token movement, finding address owners is difficult; clubbing these into one single address is permissible for further exploitation.

雖然區塊鏈透明度確實允許追蹤代幣移動的能力，但找到地址所有者很困難；將這些地址集中到一個地址中可以進行進一步的利用。

The Economic Pull of MemecoinsDespite these pitfalls, the rise of meme coins testifies to one key trend: up 11% from 4% of the altcoin market in 2022. This indicates a heightened interest from the investor community for assets that are perceived to be more fair and accessible, possibly driven by socio-economic factors like inflation and disconnection from traditional finances. With meme coins, it would seem that a large part of humanity prefers a digital-native asset that is more closely tied to modern culture than to legacy financial systems.

Meme 幣的經濟吸引力儘管存在這些陷阱，Meme 幣的崛起證明了一個關鍵趨勢：到2022 年，其在山寨幣市場中的佔比將比4% 增長11%。更公平的資產的興趣日益濃厚且易於獲取，可能是由通貨膨脹和與傳統金融脫節等社會經濟因素所驅動的。對於迷因幣來說，大部分人似乎更喜歡與現代文化比傳統金融系統更緊密聯繫的數位原生資產。

Long-term Prospects: Narratives Over Numbers?This would, in turn, suggest that further and continued success of such memecoin might be contingent essentially on their speculative value and on developing and maintaining special narratives to which users can relate. In fact, as space progresses in maturity, only those types of memecoin capable of creating distinct identities will, at some point, continue to exist and ultimately remain part of the ecosystem.

長期前景：敘事勝於數位？ 這反過來表明，這種迷因幣的進一步和持續成功可能主要取決於它們的投機價值以及開發和維護用戶可以關聯的特殊敘事。事實上，隨著空間的成熟，只有那些能夠創造獨特身份的迷因幣才會在某個時刻繼續存在並最終成為生態系統的一部分。

While technology-driven coins are looking toward innovation, memecoin is placing all its bets on a cultural and social appeal- a strategy that could, in a controlled manner, continuously attract investors who seek meaningful interaction within a decentralized market.

雖然技術驅動的硬幣正在尋求創新，但memecoin 將所有賭注都押在了文化和社會吸引力上——這一策略可以以可控的方式持續吸引那些在去中心化市場中尋求有意義的互動的投資者。

While memecoin is creating some interesting opportunities, it is highly risky and subject to market manipulation, so any participation should be done very carefully and with much information.

雖然 memecoin 正在創造一些有趣的機會，但它風險很高，並且容易受到市場操縱，因此任何參與都應該非常謹慎並提供大量資訊。