代币解锁和比特币分配导致加密货币市场暴跌

由于大量代币解锁和比特币分配，加密货币市场面临下行压力。未来十周内价值近 20 亿美元的代币解锁可能会减少山寨币市场。此外，价值超过 110 亿美元的比特币将分配给 Gemini 和 Mt. Gox 的债权人。这些事件以及恐惧、不确定性和怀疑 (FUD) 正在给市场带来压力。与此同时，即将到来的 FTX 还款可能会为市场注入流动性，从而带来一些缓解。

Crypto Markets Reel Under Pressure as Unlocks and Distributions Weigh Heavy

由于解锁和分配的压力很大，加密货币市场面临压力

Amidst an ongoing corrective phase, the cryptocurrency market is facing further downward pressure from a barrage of token unlocks and Bitcoin distributions, totaling billions of dollars. These events threaten to prolong any meaningful recovery.

在持续的调整阶段，加密货币市场正面临来自一系列代币解锁和比特币分配的进一步下行压力，总计数十亿美元。这些事件可能会延长任何有意义的复苏。

Token Unlocks: Altcoins Under Siege

代币解锁：山寨币陷入围攻

10x Research, a crypto analytics firm, warns that nearly $2 billion worth of token unlocks in the next ten weeks could trigger a sell-off in the altcoin market. Token unlocks involve the release of assets previously held in vesting contracts, increasing supply and potentially reducing value.

加密分析公司 10x Research 警告称，未来十周内价值近 20 亿美元的代币解锁可能会引发山寨币市场的抛售。代币解锁涉及释放先前在归属合约中持有的资产，增加供应并可能降低价值。

Over the next two months, large token unlocks are expected for various projects, including Aptos (APT), Starkware (STRK), Arbitrum (ARB), Immutable X (IMX), Avalanche (AVAX), Optimism (OP), PRIME, Sui (SUI), Ethena (ENA), Altlayer's ALT, and XAI. These unlocks could flood the market with an additional $97 million to $135 million of each token.

在接下来的两个月里，预计各种项目将有大量代币解锁，包括 Aptos (APT)、Starkware (STRK)、Arbitrum (ARB)、Immutable X (IMX)、Avalanche (AVAX)、Optimism (OP)、PRIME、Sui (SUI)、Ethena (ENA)、Altlayer 的 ALT 和 XAI。这些解锁可能会给市场带来额外的 9700 万至 1.35 亿美元的代币价值。

10x Research suggests that venture capital investors holding unlocked tokens may face pressure to lock in gains, which could stifle further appreciation of these assets.

10x 研究表明，持有未锁定代币的风险资本投资者可能面临锁定收益的压力，这可能会抑制这些资产的进一步升值。

Bitcoin Distribution: Over $11 Billion in Creditor Payouts

比特币分配：债权人支付超过 110 亿美元

In a separate report, K33 Research analyst Velte Lunde raises concerns over the distribution of over $11 billion worth of Bitcoin (BTC) to creditors of crypto exchange Gemini's Earn program and the defunct Mt. Gox marketplace.

在另一份报告中，K33 Research 分析师 Velte Lunde 对将价值超过 110 亿美元的比特币 (BTC) 分配给加密货币交易所 Gemini 的 Earn 计划和已不复存在的 Mt. Gox 市场的债权人表示担忧。

Lunde warns that these distributions could trigger a surge in "FUD" (fear, uncertainty, and doubt) in the crypto market. However, Arthur Cheong, founder and chief investment officer of DeFiance Capital, offers some optimism.

伦德警告说，这些分布可能会引发加密市场中“FUD”（恐惧、不确定性和怀疑）的激增。然而，DeFiance Capital 创始人兼首席投资官 Arthur Cheong 对此表示乐观。

FTX Repayments: A Potential Lifeline

FTX 还款：潜在的生命线

Cheong believes that the upcoming repayments from FTX's bankruptcy proceedings could provide some relief to the crypto market. Approximately $14-$16 billion in U.S. dollars is expected to be paid out to creditors, and a portion of this may flow back into the crypto space.

Cheong 认为，FTX 破产程序即将偿还的款项可能会给加密货币市场带来一些缓解。预计将向债权人支付约 14-160 亿美元，其中一部分可能会回流到加密货币领域。

Market Performance: Gloomy Wednesday

市场表现：周三悲观

On Wednesday, the broader CoinDesk 20 Index slumped by 3.4% over the past 24 hours. Bitcoin declined by 2.5% to $61,500, while Ethereum (ETH) shed 3.6%. Bitcoin Cash (BCH) and Solana (SOL) witnessed the steepest losses, plummeting by over 7%.

周三，更广泛的 CoinDesk 20 指数在过去 24 小时内下跌了 3.4%。比特币下跌 2.5%，至 61,500 美元，以太坊 (ETH) 下跌 3.6%。比特币现金 (BCH) 和 Solana (SOL) 的跌幅最大，暴跌超过 7%。

Conclusion

结论

The cryptocurrency market remains under pressure as a wave of token unlocks and Bitcoin distributions looms on the horizon. These events could exacerbate supply and demand imbalances, leading to further price declines. However, the potential injection of liquidity from FTX repayments may provide some respite. For now, caution and risk management are prudent strategies as the market navigates these headwinds.

随着一波代币解锁和比特币发行浪潮即将到来，加密货币市场仍然面临压力。这些事件可能会加剧供需失衡，导致价格进一步下跌。然而，FTX 还款带来的潜在流动性注入可能会带来一些喘息的机会。目前，随着市场应对这些逆风，谨慎和风险管理是审慎的策略。