Mubarak在Binance列出圍繞CEX上市慣例的重新辯論後的40％下降

這與像果凍這樣的投機性模因硬幣的審查越來越多，最近引發了短暫的擠壓並將炒作拖到

The sharp 40% drop in MUBARAK after its Binance listing has sparked fresh debate around the subject of centralized exchange listing practices and the broader state of the meme coin ecosystem.

穆巴拉克（Mubarak）的二手股份清單後，急劇下降了40％，引發了有關集中式交流列表實踐和模因硬幣生態系統更廣泛狀態的主題的新辯論。

This came alongside growing scrutiny over speculative meme coin launches like JELLY, which recently triggered a short squeeze and dragged HYPE down, sparking fears of deeper structural risks.

這與諸如Jelly之類的投機模因硬幣的審查越來越多。

MUBARAK Dropped 40% After Binance Listing

Binance上市後，Mubarak下降了40％

The steep decline in MUBARAK, which has fallen around 40% since making its debut on Binance, has brought renewed attention to the quality of recent listings on centralized exchanges. Binance recently concluded its first listing vote, seeing Tutorial and BROCCOLI among the frontrunners.

自從首次亮相以來，穆巴拉克（Mubarak）的急劇下降幅度下降了約40％，它引起了人們對集中式交流近期列表的質量的重新關注。 Binance最近結束了首次上市投票，在領先者中看到教程和西蘭花。

However, some argue that these events are eroding trust in both DeFi and CEX platforms, especially as meme coins continue to grab headlines while more stable crypto sectors struggle for visibility.

但是，有人認為這些事件正在侵蝕DEFI和CEX平台的信任，尤其是當Meme硬幣繼續抓住頭條新聞時，而更穩定的加密省則努力尋找可見性。

Still, platforms like Pump.fun are pushing for innovation, introducing features like token burning and revenue sharing in an effort to steer meme coins toward a more sustainable future.

儘管如此，諸如pump.fun之類的平台仍在推動創新，引入了諸如令牌燃燒和收入共享之類的功能，以將模因硬幣轉向更可持續的未來。

These concerns have only grown louder following the listing of speculative meme coins on Binance, including BNB Chain tokens like JELLY, which have contributed to the scrutiny.

在將投機性模因硬幣列出了二元的列表之後，這些擔憂才大聲越來越大，其中包括果凍等BNB鏈令牌，這些代幣造成了審查。

Binance founder Changpeng Zhao (CZ) has acknowledged this criticism, stating that token listings should not dictate long-term price action.

Binance創始人Changpeng Zhao（CZ）承認這一批評，指出令牌清單不應決定長期價格行動。

While listings can offer liquidity and improve market access, CZ emphasized that any price impact should be short-term. In the long run, token value should reflect real fundamentals—such as team commitment, development activity, and network performance.

儘管上市可以提供流動性並提高市場訪問，但CZ強調，任何價格影響都應短期。從長遠來看，令牌價值應反映出真正的基本面，例如團隊承諾，發展活動和網絡性能。

Yet, even as the community pushes for more transparency, Binance Alpha has continued to list controversial tokens, including two Studio Ghibli-themed meme coins.

然而，即使社區推動提高透明度，Binance Alpha仍在繼續列出有爭議的令牌，其中包括兩個吉卜力吉布利主題的模因硬幣。

Hyperliquid Crisis Made Users Question Meme Coins

超流動危機使用戶問模因硬幣

Meanwhile, HYPE also experienced a sharp decline after JELLY triggered a short squeeze, leading to widespread speculation about the role of Hyperliquid and meme coins in the crypto ecosystem.

同時，在果凍引發短暫的擠壓後，炒作也急劇下降，導致人們廣泛猜測了高流動性和模因硬幣在加密生態系統中的作用。

Some users have even questioned if this could be the beginning of an FTX-style collapse as concerns grow over the unchecked volatility tied to meme coin derivatives.

一些用戶甚至質疑這是否可能是FTX式崩潰的開始，因為與模因硬幣衍生品相關的不受檢查的波動性的擔憂增加。

The JELLY controversy has sparked debate about the fragility of emerging platforms and whether enough safeguards are in place to prevent systemic fallout from meme-driven market events. In response to the backlash, Hyperliquid announced it would strengthen its security measures to prevent similar incidents in the future.

果凍的爭議引發了有關新興平台的脆弱性以及是否有足夠的保障措施來防止模因驅動市場事件的系統性後果。為了應對反彈，Hyperliquid宣布將加強其安全措施，以防止將來發生類似事件。

Jean Rausis, co-founder of the decentralized finance ecosystem SMARDEX, told BeInCrypto that the DeFi ecosystem needs to think about the image it sends to the market:

分散的金融生態系統Smardex的聯合創始人讓·勞西斯（Jean Rausis）告訴Beincrypto，Defi生態系統需要考慮它發送給市場的形象：

“If we want DeFi to be adopted, the ecosystem needs to gain trust not only with its existing users but also in terms of the image it presents in the news. And it’s clear that with projects wrongly labelling themselves as ‘decentralized’, more incidents like this will happen.”

“如果我們希望採用Defi，那么生態系統不僅需要與現有用戶，而且還需要在新聞中呈現的圖像方面獲得信任。而且很明顯，隨著項目錯誤地將自己標記為“分散的”，會發生更多的事件。”

Sectors Like RWA Could Help To Grow Crypto Credibility

像RWA這樣的部門可以幫助增強加密信譽

Kevin Rusher, founder of the decentralized lending protocol RAAC, described the situation as a major blow to DeFi’s credibility. “This is another setback for DeFi adoption, but it’s not a surprise,” he said, noting that meme coins had reignited retail greed and diverted liquidity away from more sustainable sectors of the ecosystem.

分散貸款協議RAAC的創始人凱文·拉什（Kevin Rusher）將這種情況描述為對Defi信譽的重大打擊。他說：“這是Defi採用的又一次挫折，但這並不奇怪。”他指出，Meme硬幣已重新點燃了零售貪婪，並將流動性從生態系統的更可持續性部門轉移了出來。

He warned that tokens like TRUMP and MELANIA had captured too much mindshare during the last market surge, leaving DeFi vulnerable to speculative chaos.

他警告說，像特朗普和梅拉尼亞這樣的代幣在最後一次市場湧現中捕捉到了太多的思維方式，使Defi很容易受到投機性混亂的影響。

Still, Rusher pointed to the growing involvement of institutions like BlackRock as a sign of hope:

儘管如此，Rusher仍指出，貝萊德等機構的參與日益增加，這是希望的標誌：

“But it looks like institutions and big players like BlackRock also understand this need for stability in crypto, which is why they are now seriously focused on the tokenization of Real World Assets (RWAs). The unfortunate reality is that memecoins are likely here to stay, and they will be a real obstacle for DeFi growth in the short term. However, with RWAs bringing huge liquidity into the system from traditional finance, this sector will finally have the opportunity to grow without memecoin frenzies putting the whole ecosystem in danger.” – Rusher told BeInCrypto.

“But it looks like institutions and big players like BlackRock also understand this need for stability in crypto, which is why they are now seriously focused on the tokenization of Real World Assets (RWAs). The unfortunate reality is that memecoins are likely here to stay, and they will be a real obstacle for DeFi growth in the short term. However, with RWAs bringing huge liquidity into the system from traditional finance, this sector will finally have the opportunity to grow without Memecoin瘋狂使整個生態系統處於危險之中。” - 衝刺者告訴Beincrypto。

In a recent conversation with Bankless, PumpFun co-founder Alon Cohen shared insights about the meme coins market, highlighting PumpFun’s 4Chan-inspired aesthetic, bonding curve pricing model, and new creator-focused initiatives.

在與Bankless的最近對話中，Pumpfun聯合創始人Alon Cohen分享了有關Meme Coins市場的見解，強調了Pumpfun的4chan啟發的美學，結合曲線定價模型和新的以創造者為中心的計劃。

Pump.fun has generated over 8.8 million tokens and once peaked with a record $14 million in daily revenue, collecting a total of $600 million since launch.

Pump.Fun產生了超過880萬個令牌，曾經以創紀錄的1400萬美元的每日收入達到頂峰，自推出以來，總計6億美元。

Alon emphasized that while the meme coin market is cooling—down nearly 49% from its $125 billion peak in December 2024—Pump.fun remains committed to supporting creative and community-driven projects.

Alon強調，儘管Meme Coin市場正在冷卻 - 從2024年12月的1.25億美元高峰降低了近49％，但Pump.Fun仍致力於支持創意和社區驅動的項目。

To boost long-term sustainability, the team is now introducing revenue-sharing mechanisms for token creators, a transparent fee structure, and token-burning features to reduce the extractive nature of meme coin launches.

為了提高長期可持續性，該團隊現在正在為代幣創建者，透明的費用結構以及燃燒令牌的功能引入收入共享機制，以減少模因硬幣發射的提取性質。

With new mechanisms like this

有這樣的新機制