周二晚些时候，随着特朗普总统将赢得选举，加密货币市场开始活跃起来

任何一位候选人都可能对加密行业有利，这导致今年加密货币价值上涨

The crypto market finally reacted on Tuesday night as it became clear that President Trump would win the election. It was likely that either candidate would have been good for the crypto industry, which has led to a rise in crypto values this year, but this may have been a best-case scenario for policy changes.

随着特朗普总统明显将赢得大选，加密货币市场终于在周二晚上做出了反应。任何一位候选人都可能对加密行业有利，这导致了今年加密货币价值的上涨，但这可能是政策变化的最佳情况。

Bitcoin (CRYPTO: BTC) was the biggest winner from a valuation perspective, climbing 11.3% in the past week as of 3 p.m. ET to a $1.52 trillion market cap. But Ethereum (CRYPTO: ETH) was up 18%, and Dogecoin (CRYPTO: DOGE) jumped 22.6% in that time, according to data provided by S&P Global Market Intelligence.

从估值角度来看，比特币（CRYPTO：BTC）是最大赢家，截至美国东部时间下午 3 点，过去一周上涨 11.3%，市值达到 1.52 万亿美元。但根据标准普尔全球市场情报提供的数据，以太坊（加密货币：ETH）上涨了 18％，狗狗币（加密货币：DOGE）同期上涨了 22.6％。

Here's a look at what happened in crypto this week and what's next.

以下是本周加密货币领域发生的事情以及接下来的事情。

The election and policy changes ahead: The last four years have been frustrating for cryptocurrency enthusiasts and developers because the regulatory environment has been uncertain, at best. Instead of outlining clear rules, both Congress and the U.S. Securities and Exchange Commission (SEC) have left rules in a gray area and only enforced with legal charges once companies release products.

未来的选举和政策变化：过去四年对于加密货币爱好者和开发商来说是令人沮丧的，因为监管环境充其量是不确定的。国会和美国证券交易委员会 (SEC) 没有制定明确的规则，而是将规则置于灰色地带，只有在公司发布产品后才会通过法律指控来强制执行。

That's the lack of clarity companies have been talking about, and it's possible that changes. On the SEC level, Chair Gary Gensler will likely be replaced quickly after Trump takes office, and that will change the enforcement environment almost immediately. Rule changes will take time, but that will also follow.

这就是公司一直在谈论的缺乏清晰度的问题，而且这种情况可能会发生变化。在 SEC 层面，主席加里·詹斯勒 (Gary Gensler) 可能会在特朗普上任后很快被替换，这将几乎立即改变执法环境。规则的改变需要时间，但这也会随之而来。

It also looks like Republicans will control both houses of Congress, which means both political appointments and laws can be passed that may favor the industry. We don't know what that looks like yet, but innovation won't happen without some kind of clarity.

共和党人似乎还将控制国会两院，这意味着可以通过可能有利于该行业的政治任命和法律。我们还不知道那是什么样子，但如果没有某种清晰度，创新就不会发生。

Investors bet big on crypto: The SEC did allow Bitcoin and Ethereum ETFs earlier this year, and in less than 36 hours, the Bitcoin ETFs alone saw $1.3 billion of inflows after the election. Those inflows were part of the price increase through simple supply and demand.

投资者在加密货币上押下重注：今年早些时候，美国证券交易委员会确实允许比特币和以太坊 ETF 上市，在大选后不到 36 小时内，仅比特币 ETF 就有 13 亿美元的资金流入。这些资金流入是通过简单的供求关系导致价格上涨的一部分。

We may see even more ETFs if the regulatory environment changes, which could bring even more inflows.

如果监管环境发生变化，我们可能会看到更多的 ETF，从而带来更多的资金流入。

Elon Musk and the Dogecoin pop: When it comes to Dogecoin, there's speculation that Elon Musk's involvement in the campaign could lead to some kind of value for the token. That's a long shot, but it's the kind of speculation that's commonplace in the market today.

埃隆·马斯克和狗狗币流行：当谈到狗狗币时，有人猜测埃隆·马斯克参与该活动可能会为该代币带来某种价值。这个可能性不大，但这种猜测在当今市场上很常见。

This was the biggest meme coin to pop, but it wasn't the only one, with many smaller tokens rising double digits this week.

这是流行的最大的模因代币，但它并不是唯一的代币，许多较小的代币本周都上涨了两位数。

What now for crypto: While the increase in values makes some sense if there are regulatory changes, it doesn't mean the increase will last. A lot of the advances in crypto over the past two years weren't with tokens -- it was with the underlying blockchain and stablecoins used for transactions. Even native tokens may not generate value if stablecoins are what we use for transactions.

现在对于加密货币来说：虽然如果监管发生变化，价值的增加是有意义的，但这并不意味着这种增加会持续下去。过去两年，加密货币领域的许多进步并不是通过代币实现的，而是通过用于交易的底层区块链和稳定币实现的。如果我们使用稳定币进行交易，即使原生代币也可能无法产生价值。

I think there's a bright future for the blockchain, but the companies building blockchain technology will be the beneficiaries. Speculating on tokens probably won't last, just as we saw in 2022, when a frothy market ended badly for crypto investors.

我认为区块链有光明的未来，但构建区块链技术的公司将是受益者。正如我们在 2022 年所看到的那样，对代币的投机可能不会持续下去，当时泡沫市场对加密货币投资者来说结局很糟糕。