剖析加密货币市场中的解锁代币与流通供应动态

在加密货币世界中，解锁代币与流通供应之间的关系通常可能存在很大差异，从而影响市场动态和投资者的看法。

In the realm of cryptocurrencies, two key concepts that influence market dynamics and investor perceptions are unlocked tokens and circulating supply. While circulating supply is a widely used metric, it can sometimes differ significantly from the percentage of tokens unlocked as stated in project whitepapers.

在加密货币领域，影响市场动态和投资者看法的两个关键概念是解锁代币和流通供应。虽然循环供应量是一个广泛使用的指标，但它有时可能与项目白皮书中所述的解锁代币百分比存在显着差异。

To gain a deeper understanding of this relationship, let's examine several notable tokens where the unlocked supply notably differs from the circulating supply:

为了更深入地了解这种关系，让我们检查几个值得注意的代币，其中未锁定的供应量与流通供应量明显不同：

1. $1INCH: This token demonstrates near-perfect alignment, with only a marginal 1.18% difference between unlocked and circulating supply, which aligns with typical token distribution practices.

1. $1INCH：该代币表现出近乎完美的一致性，解锁供应量和流通供应量之间仅存在 1.18% 的边际差异，这与典型的代币分配实践相符。

2. $AAVE: Interestingly, its circulating supply exceeds its unlocked percentage by 1.79%, suggesting that additional factors, such as staking or token burning mechanisms, are influencing the availability of tokens.

2. $AAVE：有趣的是，其流通量超过其解锁百分比 1.79%，这表明其他因素（例如质押或代币销毁机制）正在影响代币的可用性。

3. $AEVO and $ALGO: These tokens exhibit larger gaps, with $AEVO at 12.57% and $ALGO at 17.24%, indicating unique liquidity dynamics or strategic token distribution strategies employed by the respective projects.

3. $AEVO 和 $ALGO：这些代币表现出较大的差距，其中 $AEVO 为 12.57%，$ALGO 为 17.24%，这表明各自项目采用独特的流动性动态或战略代币分配策略。

4. $FXS: Despite approximately 90% of its tokens being unlocked, it shows a significant -50% discrepancy, implying that a substantial portion of unlocked tokens are being withheld from circulation.

4. $FXS：尽管其约 90% 的代币已解锁，但仍显示出显着的 -50% 差异，这意味着很大一部分已解锁代币被禁止流通。

5. $ASTR: An outlier among the tokens examined, its circulating supply is higher than unlocked tokens, potentially due to reporting variations or distinct tokenomics strategies employed by the project.

5. $ASTR：所检查代币中的异常值，其流通供应量高于未锁定代币，可能是由于报告差异或项目采用的不同代币经济学策略所致。

6. $ILV and $INJ: Both tokens show discrepancies despite high unlock percentages, suggesting delayed circulation due to vesting schedules or controlled releases implemented by the projects.

6. $ILV 和 $INJ：尽管解锁比例较高，但这两种代币仍显示出差异，这表明由于项目实施的归属时间表或受控释放而导致流通延迟。

7. $AXL and $BAT: These tokens show closer alignment between unlocked and circulating supply, indicating smoother distribution processes employed by the respective projects.

7. $AXL 和 $BAT：这些代币显示解锁供应量和流通供应量之间更紧密的一致性，表明各个项目采用的分配流程更加顺畅。

8. $BNB: Notably, despite 95.63% of its supply being unlocked, a 4.5% gap in circulating supply is likely influenced by its buy-back and burn mechanism, which affects the overall availability of tokens.

8. $BNB：值得注意的是，尽管其 95.63% 的供应量已解锁，但其回购和销毁机制可能会导致流通供应量出现 4.5% 的缺口，从而影响代币的整体可用性。

How much of unlocked tokens get translated into Cir. Supply? 🔎

有多少解锁代币被转化为 Cir。供应？ 🔎

While cir. supply is an industry standard, how does it compare to unlocked supply shown that is derived from projects whitepaper?

虽然循环。供应是行业标准，它与项目白皮书中显示的未锁定供应相比如何？

Let's take a look at tokens with over 90% unlocks compared to their cir. supply 👇🏻 pic.twitter.com/GXOHcGLRut

让我们看一下与 cir 相比解锁率超过 90% 的代币。供应👇🏻 pic.twitter.com/GXOHcGLRut

— Token Unlocks (@Tokenomist_ai) October 9, 2024

— 代币解锁 (@Tokenomist_ai) 2024 年 10 月 9 日

These comparisons highlight the complexities inherent in token economics within the cryptocurrency space. High unlock percentages do not necessarily equate to immediate circulation due to various factors, including vesting schedules or strategic distribution decisions. Such discrepancies—whether an oversupply or undersupply—can significantly impact liquidity and price volatility in the market, making it crucial for investors to monitor both unlocked token metrics and circulating supply dynamics closely for informed decision-making.

这些比较凸显了加密货币领域代币经济学固有的复杂性。由于各种因素，包括行权时间表或战略分配决策，高解锁百分比并不一定等于立即流通。这种差异（无论是供应过剩还是供应不足）都会严重影响市场的流动性和价格波动，因此投资者密切监控未锁定的代币指标和流通供应动态以做出明智的决策至关重要。

Disclaimer: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

免责声明：这不是交易或投资建议。在购买任何加密货币或投资任何服务之前，请务必进行研究。

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在 Twitter 上关注我们@nulltxnews，了解最新的加密货币、NFT、人工智能、网络安全、分布式计算和 Metaverse 新闻！

The image is by peshkov/123RF with some image effects by Colorcinch

该图像由 peshkov/123RF 提供，部分图像效果由 Colorcinch 提供