2025年的10個表現最差的山寨幣

更廣泛的加密貨幣市場面臨近期下行風險。這些情緒是由摩根大通（JPMorgan）的分析師回應的，因為人們越來越擔心需求減弱和勢頭放緩將引起重大回調。

The broader cryptocurrency market faces near-term downside risks, according to analysts at JPMorgan, amid concerns that weakening demand and slowing momentum will trigger a significant pullback in the market.

根據摩根大通的分析師的說法，由於擔心需求減弱和勢頭放緩將引發市場的重大回調，因此更廣泛的加密貨幣市場面臨的近期下行風險。

Those sentiments come on the heels of flagship cryptocurrency Bitcoin pulling back by about 10% from recent all-time highs. After reaching record highs of $3.72 trillion in the broader cryptocurrency market late last year, the market has since pulled back by about 15%, according to JPMorgan analysts, signaling a significant decline in investor confidence.

這些情緒緊隨旗艦加密貨幣比特幣的延伸，從最近有史以來的高點降低了約10％。根據摩根大通（JPMorgan）分析師的數據，該市場在去年年底達到了更廣泛的加密貨幣市場上達到創紀錄的最高水平3.72萬億美元之後，該市場已撤退約15％，這表明投資者信心的大幅下降。

“The correction over the past couple of months saw both bitcoin and ethereum futures approaching backwardation. This is a negative development and indicative of demand weakness by those institutional investors that use regulated CME futures contracts to gain exposure into these two cryptocurrencies,” JPMorgan wrote in a recent research note.

“在過去的幾個月中，比特幣和以太坊期貨都接近落後。這是一個負面的發展，並表明了那些使用監管的CME期貨合約來獲得這兩種加密貨幣的機構投資者的需求疲軟。”摩根大通在最近的一份研究報告中寫道。

One of the primary reasons for the weakening demand in the crypto market is the lack of short-term catalysts to push prices higher. As noted by JPMorgan in a recent research note to investors, institutional investors have been booking profits after cryptocurrencies rallied to record highs following the reelection of Donald Trump as the US president.

加密市場需求減弱的主要原因之一是缺乏短期催化劑來提高價格。正如摩根大通在最近對投資者的一份研究票據中指出的那樣，在加密貨幣集結以記錄唐納德·特朗普（Donald Trump）擔任美國總統之後，機構投資者一直在預訂利潤。

While there are growing expectations that the new US administration will pass positive regulations that foster the nascent industry’s growth, most are only expected in the second half of the year.

儘管越來越多的期望，即新的美國政府將通過積極的法規來促進新生產業的增長，但大多數僅在下半年才預計。

“As we argued in our recent publication, crypto initiatives by the new US administration are more likely to take place in the second half of the year. Until then, weakening demand poses downside risk to crypto markets,” stated JPMorgan.

“正如我們在最近的出版物中所說的那樣，新美國政府的加密計劃在下半年更有可能發生。在此之前，削弱需求對加密貨幣市場構成下行風險。”摩根大通說。

According to JPMorgan analysts, the lack of fresh catalysts in the short term could trigger further downside pressure in the crypto markets. The post-Federal Reserve Chair Jerome Powell inflation warning on December 18 saw the post-election cryptocurrency rally fizzle out towards the end of 2024. Bitcoin saw even more severe losses as investors dumped growth-oriented risk assets due to a spike in bond yields.

根據摩根大通分析師的說法，短期內缺乏新鮮催化劑可能會引發加密貨幣市場的進一步下行壓力。前衛隊儲備主席杰羅姆·鮑威爾（Jerome Powell）的通貨膨脹警告於12月18日在2024年底看到選舉後加密貨幣集會彈力。由於投資者傾倒了由於債券收益率飆升而拋棄了面向增長的風險資產，比特幣造成了更嚴重的損失。

Stock market strategist and head of research at Fundstrat Global Advisors Tom Lee believes Bitcoin will be one of the best-performing asset classes in 2027 despite the recent deep pullback.

股票市場策略師兼FundStrat全球顧問研究負責人湯姆·李（Tom Lee）認為，儘管最近有深層的回調，但比特幣將是2027年表現最好的資產類別之一。

“But I think that there is still an argument that in the short term bitcoin is a risk-on asset so as the market liquidates, which happened over the weekend, bitcoin takes a hit so I’d say February is not looking great for bitcoin in the near term ” Lee said

“但是我認為仍然有一個論點是，在短期內比特幣是一種風險的資產，所以在周末發生的市場上，比特幣受到了打擊，所以我說2月對於比特幣來說並不好在短期內，”李說

Lee believes Bitcoin could drop to $70,000 before rebounding. Current levels are “probably not the floor for this month so it could visit much lower levels, even 70, but of course that’ll end up being a buying opportunity,” said Lee.

李認為比特幣在籃板之前可能會降至70,000美元。李說，目前的水平“可能不是本月的地板，因此它可能會訪問更低的水平，甚至70個，但當然，這最終會成為購買機會。”

Our Methodology

我們的方法論

To make the 10 worst performing Altcoins in 2015, we scanned the cryptocurrency market, focusing on the top 100 alternative coins by market cap. We then trimmed the list and focused on the top ten coins that have shed significant market value year to date. Finally, we ranked them in ascending order based on the percentage loss that the alternative coins have incurred year to date.

為了使2015年表現最差的山寨幣表現最差，我們掃描了加密貨幣市場，重點是市場上限的前100個替代硬幣。然後，我們修剪了清單，並專注於迄今為止迄今為止散發出大量市場價值的前十枚硬幣。最後，我們根據替代硬幣迄今已產生的百分比損失的百分比損失對它們進行了排名。

At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

在Insider Monkey，我們沉迷於對沖基金堆積的股票。原因很簡單：我們的研究表明，我們可以通過模仿最佳對沖基金的最高股票來勝過市場。我們的季度新聞通訊的策略每季度選擇14個小型股和大型股票，自2014年5月以來已返回275％，超過了其基準點150個百分點（請參見此處的更多詳細信息）。

10 Worst Performing Altcoins in 2025

2025年的10個表現最差的山寨幣

10. Algorand (ALGO)

10。Algorand（某物）

Market Cap as of February 21 2025: $2.32 Billion

截至2025年2月21日的市值：23.2億美元

Year to Date Drop: 18.90%

一年至今：18.90％

The Algorand ALGO is the native token of the Algorand blockchain. It primarily facilitates transactions, pays transaction fees, and incentivizes network validators to secure the platform. Being a public blockchain platform, people can build decentralized applications on top of it. On the other hand, the native token ALGO has been under pressure ever since it peaked in 2025.

Algorand Algo是Algorand區塊鏈的本地令牌。它主要促進交易，支付交易費用，並激勵網絡驗證器確保平台。作為一個公共區塊鏈平台，人們可以在其中構建分散的應用程序。另一方面，自2025年達到頂峰以來，天然令牌算法一直處於壓力下。

The coin has tumbled significantly and has fallen by about 18.90% in the year to date. The sell-off has coincided with a correction in the overall cryptocurrency market. Algorand’s long-term prospects and competitive edge stem from its ability to solve the inefficiencies of ledgers in any blockchain, be it Ethereum, Bitcoin, or any other. These issues include high transaction costs, energy waste, and scalability. Algorand utilizes the benefits of both centralized and decentralized blockchain projects. It is practical and efficient, like a centralized platform and a governance model for decentralized projects, to guarantee accountability.

迄今為止，硬幣已經大幅下跌，並且在一年中下降了約18.90％。拋售與整個加密貨幣市場的更正相吻合。阿爾戈蘭（Algorand）的長期前景和競爭優勢源於其解決任何區塊鏈中的分類帳效率低下的能力，無論是以太坊，比特幣還是其他任何區塊鏈。這些問題包括高交易成本，能源浪費和可擴展性。 Algorand利用集中和分散的區塊鏈項目的好處。它是實用和高效的，例如集中式平台和分散項目的治理模型，以確保問責制。

9. Hedera (HBAR)

9。Hedera（HBAR）

Market Cap as of February 21 2025: $9.44 Billion

截至2025年2月21日的市值：94.4億美元

Year to

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