加密货币的嘉年华赌场时代卷土重来

唐纳德·特朗普当选引发了更广泛的比特币投资浪潮。它在创造百万富翁的同时也可能伤害他人

The cryptocurrency market has seen a new wave of interest in memecoins, which are often created quickly and named after viral internet memes. These coins have seen incredible gains, with some rising by 10 times in a matter of hours. However, experts warn that these coins are highly risky and could disappear just as quickly as they appeared.

加密货币市场掀起了人们对模因币的新一轮兴趣，模因币通常会快速创建并以病毒式互联网模因命名。这些代币的涨幅令人难以置信，有的在几个小时内就上涨了 10 倍。然而，专家警告说，这些代币风险很高，可能会像它们出现一样迅速消失。

Memecoins are a recent phenomenon in the cryptocurrency world. They are typically created quickly and named after viral internet memes. Despite having no clear use case or value proposition, these coins have seen incredible gains, with some rising by 10 times in a matter of hours.

Memecoin 是加密货币世界中最近出现的一种现象。它们通常创建得很快，并以病毒式网络迷因命名。尽管没有明确的用例或价值主张，这些代币却取得了令人难以置信的收益，有些代币在几个小时内就上涨了 10 倍。

However, experts warn that these coins are highly risky and could disappear just as quickly as they appeared. They also add that many of these coins appear to be scams, designed to enrich the creators at the expense of unsuspecting traders.

然而，专家警告说，这些代币风险很高，可能会像它们出现一样迅速消失。他们还补充说，其中许多代币似乎都是骗局，旨在以牺牲毫无戒心的交易者为代价来让创造者致富。

One of the most popular memecoins is Fartcoin, which was created after a story about a New York man keeping a squirrel without permission went viral. Named after the Peanut the Squirrel incident, PNUT coin saw gains of up to 90% at one point.

最受欢迎的模因币之一是“屁币”，它是在一名纽约男子未经许可饲养松鼠的故事疯传后创建的。 PNUT 币以松鼠花生事件命名，一度涨幅高达 90%。

According to blockchain data, at least one holder of the coin is sitting on nearly half a billion dollars. However, PNUT coin has also seen a sharp decline from its peak value of $2.47 as the news story has faded from view.

根据区块链数据，至少有一个代币持有者坐拥近 5 亿美元。然而，随着新闻报道的消失，PNUT 币也从 2.47 美元的峰值大幅下跌。

Another memecoin, Hawk coin, was released earlier this month by Haliey Welch, a Tennessee woman who has parlayed a viral lewd street interview into a successful podcast. Over the course of 24 hours, Hawk’s market cap peaked at $500 million before collapsing to $28 million.

另一种模因币——Hawk coin，是由田纳西州女性哈莉·韦尔奇 (Haliey Welch) 于本月早些时候发布的，她将一次病毒式传播的猥亵街头采访变成了一个成功的播客。在 24 小时内，Hawk 的市值达到了 5 亿美元的峰值，然后跌至 2800 万美元。

The dramatic losses in funds led to complaints, which were not independently verified by NBC News. Facing accusations of insider trading, Welch released a statement saying neither she nor anyone on her team had sold the coins.

资金的巨大损失引发了投诉，但 NBC 新闻并未对此进行独立核实。面对内幕交易的指控，韦尔奇发表声明称，她和她团队中的任何人都没有出售这些代币。

She instead blamed “sniper” algorithmic bots, which are designed to sell as prices begin to surge, for the price dump and losses.

相反，她将价格暴跌和损失归咎于“狙击手”算法机器人，这些机器人旨在随着价格开始飙升而出售。

Bautista said that indeed algorithmic trading, which has long been part of mainstream trading on Wall Street, is now routinely deployed in the memecoin space.

Bautista 表示，事实上，算法交易长期以来一直是华尔街主流交易的一部分，现在已经在 memecoin 领域得到常规部署。

He estimates that of the top-20 traded coins in crypto, half are memecoins whose trades are almost entirely driven by bots designed to spot and respond to price movements.

他估计，在加密货币交易量排名前 20 的代币中，有一半是模因币，其交易几乎完全由旨在发现和响应价格变动的机器人驱动。

“It’s gotten to the point where the coins are created, listed, and traded within hours. And because they are worthless, you’re betting on the ‘greater fool,’” said Bautista.

“现在已经到了代币在数小时内创建、上市和交易的地步。因为它们毫无价值，所以你把赌注押在‘更大的傻瓜’身上，”包蒂斯塔说。

“You’re thinking, ‘I’m early to this, someone will buy the bags.’ But there’s no underlying driver of its value.”

“你会想，‘我来得太早了，有人会买这些包的。’”但其价值没有根本驱动因素。”

According to Bautista, some memecoins are also not legally able to be purchased from U.S. soil on most of the crypto exchanges that offer them.

根据 Bautista 的说法，一些 memecoin 也无法在大多数提供这些 memecoin 的加密货币交易所合法地从美国境内购买。

Many of the memecoins are also created on a website called Pump.fun, which allows users to “launch a coin that is instantly tradeable in one click for free.”

许多 memecoin 也是在一个名为 Pump.fun 的网站上创建的，该网站允许用户“推出一种只需点击一下即可立即免费交易的硬币”。

Launched in January 2024, the site has generated over $288.4 million in revenue since its inception, according to analytics data cited by CoinTelegraph, a crypto industry publication.

根据加密行业出版物 CoinTelegraph 引用的分析数据，该网站于 2024 年 1 月推出，自成立以来已产生超过 2.884 亿美元的收入。

Earlier this month, the United Kingdom’s Financial Conduct Authority said the website was not authorized in the country and warned anyone who interacted with a product or service associated with the site had no investor protections.

本月早些时候，英国金融行为监管局表示，该网站未经该国授权，并警告任何与该网站相关产品或服务互动的人都没有投资者保护。

Despite this, the site's terms and conditions state that its provisions are governed by “the laws of England.” A spokesperson for the website was not immediately available for comment.

尽管如此，该网站的条款和条件规定其规定受“英格兰法律”管辖。未能立即联系到该网站发言人发表评论。

It may be the digital Wild West, but some tools have been developed to help nonsavvy memecoin participants avoid outright scams.

这可能是数字狂野西部，但已经开发了一些工具来帮助不精明的模因币参与者避免彻底的骗局。

A site called Rugcheck.xyz bills itself as capable of scanning memecoin ownership data to determine whether an actor or small group of actors are capable of putting their thumb on the scale of the market.

一个名为 Rugcheck.xyz 的网站自称能够扫描 memecoin 所有权数据，以确定一个参与者或一小群参与者是否有能力对市场规模做出判断。

Pump.fun itself says it prevents “rugs,” or sudden price dumps, by making sure that any tokens it launches have no presales or small-batch allocations that would benefit insiders.

Pump.fun 本身表示，它通过确保其推出的任何代币不进行有利于内部人士的预售或小批量分配来防止“地毯”或突然的价格暴跌。

It is not clear how much longer the current crypto “bull” cycle will last, but at least one analyst believes it is still in relatively early innings given likely developments next year.

目前尚不清楚当前的加密货币“牛市”周期将持续多久，但至少一位分析师认为，鉴于明年可能的发展，目前仍处于相对较早的阶段。

These include potentially further reductions in interest rates by the Federal Reserve and the implementation of more crypto-friendly policies by the Trump administration.

其中包括美联储可能进一步降低利率以及特朗普政府实施更加有利于加密货币的政策。

“There are lots of events in 2025 that can help drive bitcoin and crypto prices up further,” said Gracy Chen, CEO of crypto group Bitget, in an interview with NBC News.

加密货币集团 Bitget 首席执行官 Gracy Chen 在接受 NBC 新闻采访时表示：“2025 年有很多事件可以帮助推动比特币和加密货币价格进一步上涨。”

“In fact, Trump world has already shown signs of accelerating its embrace of cryptocurrencies. Bloomberg News reported on Friday that World Liberty Financial, a crypto project ‘inspired by Trump,’ has been buying millions of dollars worth of tokens beyond bitcoin, a sign that the decentralized finance lending platform could launch soon.”

事实上，特朗普世界已经显示出加速拥抱加密货币的迹象。彭博新闻周五报道称，“受特朗普启发”的加密货币项目 World Liberty Financial 一直在购买比特币以外价值数百万美元的代币，这表明去中心化金融借贷平台可能很快就会推出。

Trump has been named as an eventual “financial beneficiary

特朗普被指定为最终的“经济受益人”