加密戏ter创始人ran neuner：“零售业到这里要长时间

Crypto Banter创始人Ran Neuner表示，最新的加密清算浪潮使散户投资者脱离了数字资产，他将市场的当前状态描述为“最大痛苦”。

Crypto Banter founder Ran Neuner has shared his thoughts on the latest wave of crypto liquidations, which he believes have scared off retail investors from digital assets.

Crypto Banter创始人Ran Neuner分享了他对最新的加密清算浪潮的想法，他认为这已经害怕从数字资产中摆脱零售投资者。

In an interview at Consensus Hong Kong 2025, Neuner told Cointelegraph that when Bitcoin (BTC) reached 60% market dominance, investors quickly pivoted to altcoins, assuming the market would follow the traditional four-year cycle. However, they were met with a massive liquidity flush instead.

Neuner在香港共识2025年的一次采访中告诉Cointelegraph，当比特币（BTC）达到60％的市场优势时，投资者很快就对AltCoins进行了旋转，假设市场将遵循传统的四年周期。但是，他们遇到了大量的流动性冲洗。

The flush was triggered in part by the threat of trade wars between the US, Canada and Mexico, which led to a large market sell-off and at least $2.4 billion liquidated in 24 hours.

冲洗是由美国，加拿大和墨西哥之间的贸易战威胁引发的，这导致了大量市场抛售，并且在24小时内清算了至少24亿美元。

Among the assets that suffered steep declines in price were altcoins, such as Ether (ETH). According to Neuner, no one expected the second-biggest cryptocurrency to crash so hard in one night, and “that put a lot of people off-guard.”

价格急剧下降的资产中有AltCoins，例如Ether（Eth）。根据诺纳（Neuner）的说法，没有人期望在一个晚上如此艰难的第二大加密货币，“这使很多人避免了守护者”。

This situation may have scared off YouTube’s crypto retail audience. Neuner mentioned that good-quality Crypto Banter videos are getting between a quarter to one-third fewer views than they did during the 2021 crypto bull market. But he quickly added that “where there’s money to be made, retail will arrive.”

这种情况可能吓到了YouTube的加密零售观众。诺纳（Neuner）提到，高质量的加密戏banter视频比2021年加密牛市中的观点少了四分之一至三分之一。但是他很快补充说：“在有钱的地方，零售将到来。”

While he is bullish on memecoins, he added that they may have been a hindrance to onboarding retail, as new investors “walked into the most corrupt casino in the world, just filled with insiders, snipe bots and whatever else. So, I think it’s going to be a long time before retail gets here, but they will come.”

当他看好Memecoins时，他补充说，他们可能是造成零售业的障碍，因为新投资者“走进了世界上最腐败的赌场，刚刚充满了内部人士，狙击机器人和其他任何东西。因此，我认为零售业要到这里需要很长时间，但它们会来的。”

Memecoins have been a particular lightning rod of controversy in the past week due to the LIBRA rug pull scandal. According to Nansen, investors saw a combined loss of around $251 million. Argentine President Javier Milei has been drawn into the controversy due to his role in posting about the LIBRA token on X.

由于天秤座地毯拉丑闻，在过去一周中，Memecoins是一个特殊的避雷针。据南森（Nansen）称，投资者的总损失约为2.51亿美元。阿根廷总统哈维尔·米利（Javier Milei）因在X上发布天秤座令牌的作用而引起了争议。

As Cointelegraph reported on Feb. 21, Solana token launches are slowing significantly, with Pump.fun, a Solana memecoin launcher, posting its weakest revenue since early November 2024.

正如CoIntelegraph在2月21日报道的那样，Solana Memecoin发射器Pump.Fun发行了Solana令牌发射，自2024年11月初以来的收入最低。

Neuner is expecting a much tamer cycle and much more protracted ones later. In his view, the four-year cryptocurrency cycle is dead. “I think the reason is because the rate of emission now is so small relative to the market capital of Bitcoin. And it’s, like, not really significant in the big scheme of things.”

Neuner期望有很多驯服的循环，后来又持久了。他认为，四年的加密货币周期已经死了。 “我认为原因是因为现在的排放速率相对于比特币的市值很小。而且，这在大计划中并不重要。”