比特币符文崩溃：投机和市场操纵暴露

Runes 是比特币上可替代代币的新协议，在比特币减半期间推出。然而，尽管最初的炒作和高昂的交易费用，许多符文的价格已经开始下降。 DOG GO TO THE MOON 和 RSIC GENESIS RUNE 等领先的 Runes 项目的价值也大幅下降。尽管最初令人兴奋，但符文的长期生存能力仍然不确定。

The Hype and Demise of Bitcoin Runes: A Tale of Speculation and Market Manipulation

比特币符文的炒作和消亡：投机和市场操纵的故事

In a much-anticipated event, the recent Bitcoin halving was heralded as the catalyst for the rise of fungible tokens on the venerable blockchain. Casey Rodarmor, the founder of the Ordinals project, launched Runes, a next-generation protocol touted as the panacea for the shortcomings of existing altcoin standards on Bitcoin.

在一场备受期待的事件中，最近的比特币减半被誉为古老区块链上可替代代币崛起的催化剂。 Ordinals 项目的创始人 Casey Rodarmor 推出了 Runes，这是一种下一代协议，被誉为解决比特币现有山寨币标准缺陷的灵丹妙药。

With promises of professionalism, efficiency, and affordability, Runes garnered significant attention. Hundreds of thousands of wallets minted new Runes, driving Bitcoin transaction fees to all-time highs. $2.4 million was poured into the network by speculators eager to secure a place in the first block following the halving.

凭借其专业性、效率和价格实惠的承诺，Runes 赢得了广泛关注。数十万钱包铸造了新的符文，将比特币交易费用推向历史新高。渴望在减半后的第一个区块中占据一席之地的投机者向网络注入了 240 万美元。

However, the post-launch euphoria was short-lived. Within two days, the prices of many Runes plummeted. Of the top eight Runes listed on Unisat, five suffered significant declines, and 27 of the top 40 on OKX also saw their values dwindle.

然而，发布后的兴奋是短暂的。两天之内，不少符文的价格暴跌。 Unisat 上排名前 8 的符文中，有 5 个出现了大幅下跌，OKX 上排名前 40 的符文中，有 27 个符文的价值也出现了缩水。

Amidst this market turmoil, one individual emerged as a vocal proponent of Runes: Leonidas, an influencer closely associated with Casey Rodarmor. Leonidas orchestrated the launch of his own Rune, DOG GO TO THE MOON, in a manner reminiscent of PulseChain's Richard Heart.

在这场市场动荡中，一个人成为了符文的直言不讳的支持者：列奥尼达斯（Leonidas），一位与凯西·罗达莫（Casey Rodarmor）关系密切的影响者。列奥尼达斯精心策划了自己的符文《DOG GO TO THE MOON》的发布，其方式让人想起 PulseChain 的理查德·哈特 (Richard Heart)。

Leonidas's bullish rhetoric and vague promises of astronomical returns were reminiscent of Heart's own tactics. He predicted a WIF-like surge in the price of DOG GO TO THE MOON, despite the thin market and lack of tangible fundamentals.

列奥尼达斯的乐观言辞和对天文数字回报的模糊承诺让人想起哈特自己的策略。他预测，尽管市场清淡且缺乏切实的基本面，《狗去月球》的价格仍将出现类似 WIF 的飙升。

Runes, by design, have unusually long ticker symbols. Leonidas's DOG GO TO THE MOON Rune, with a 14-character ticker, was marketed by him as simply 'DOG,' a ploy to entice centralized exchanges into listing it using his unofficial, three-character nickname.

根据设计，符文具有异常长的股票符号。列奥尼达斯的 DOG GO TO THE MOON Rune 带有 14 个字符的代码，他在营销时简称为“DOG”，这是一种策略，旨在吸引中心化交易所使用他的非官方三字符昵称将其上市。

Leonidas's claims have yet to materialize, and DOG GO TO THE MOON has traded only a few hundred thousand dollars in the past 24 hours. Unlike Heart, Leonidas has not been accused of wrongdoing, but questions remain about the legitimacy of his donation-based launch.

Leonidas 的说法尚未实现，《DOG GO TO THE MOON》在过去 24 小时内的交易额仅为几十万美元。与 Heart 不同的是，Leonidas 并未被指控有不当行为，但其基于捐赠的启动活动的合法性仍然存在疑问。

The secondary trading landscape for Runes has been dominated by centralized exchanges, with Unisat and Gate.io being the most prominent. Gate.io's listing of SATOSHI NAKAMOTO, a Rune named after Bitcoin's enigmatic creator, boosted its trading volume by $23 million within a single day.

符文的二级交易格局以中心化交易所为主，其中 Unisat 和 Gate.io 最为突出。 Gate.io 上线了以比特币神秘创造者 SATOSHI NAKAMOTO 命名的符文，单日交易量就增加了 2300 万美元。

However, centralized exchanges have also been criticized for their susceptibility to manipulation. The Runes market has been plagued by allegations of wash trading, a practice where participants artificially inflate trading volume to create the illusion of liquidity.

然而，中心化交易所也因容易受到操纵而受到批评。符文市场一直受到虚假交易指控的困扰，这是一种参与者人为夸大交易量以制造流动性假象的做法。

The recent collapse of Runes prices and the questionable practices surrounding their launch have cast doubt on the long-term viability of fungible tokens on Bitcoin. Despite the initial hype and astronomical fees, the market has swiftly corrected itself, leaving speculators with substantial losses.

最近符文价格的暴跌以及围绕其推出的可疑做法让人们对比特币上可替代代币的长期生存能力产生了怀疑。尽管最初有炒作和天文数字的费用，但市场很快就进行了自我修正，给投机者带来了巨大损失。

While it remains to be seen whether Runes will find their footing in the future, the episode serves as a cautionary tale about the perils of excessive speculation and the need for due diligence in the emerging world of digital assets.

虽然符文未来是否能站稳脚跟还有待观察，但这一事件对过度投机的危险以及新兴数字资产领域进行尽职调查的必要性起到了警示作用。