Memecoins：数字资产的时尚还是未来？

币安研究院最近公布了对模因币的深入分析，表明尽管这些代币旨在反映关键的加密货币价值

Binance Research recently conducted an in-depth analysis on memecoins, revealing that although these tokens are designed to embody key crypto values like fairness, transparency, and decentralization, the vast majority have not stood the test of time.

币安研究院最近对 memecoin 进行了深入分析，发现虽然这些代币的设计初衷是体现公平、透明和去中心化等关键的加密价值，但绝大多数都没有经受住时间的考验。

According to the report, around 75% of all memecoins were created in the last year alone, but 97% of these newly created tokens now have fewer-to-no trades at all, rendering them “dead” coins. Despite garnering a lot of hype, it appears that memecoins have extremely high turnover rates and a high failure rate.

根据该报告，仅去年一年就创建了大约 75% 的模因币，但这些新创建的代币中 97% 现在的交易量很少甚至根本没有，这使得它们成为“死”币。尽管获得了很多炒作，但模因币似乎具有极高的周转率和很高的失败率。

The instability in memecoins typically stems from “Memecoin Groups” that capitalize on retail traders in a pump-and-dump scheme. They artificially inflate the value of a coin and then cash out, leaving the rest at losses.

模因币的不稳定通常源于“模因币集团”，它们通过拉高抛售计划利用散户交易者。他们人为地抬高代币的价值，然后套现，让其余的人蒙受损失。

While blockchain transparency does allow for the ability to track token movement, finding address owners is difficult; clubbing these into one single address is permissible for further exploitation.

虽然区块链透明度确实允许跟踪代币移动的能力，但找到地址所有者很困难；将这些地址集中到一个地址中可以进行进一步的利用。

The Economic Pull of MemecoinsDespite these pitfalls, the rise of meme coins testifies to one key trend: up 11% from 4% of the altcoin market in 2022. This indicates a heightened interest from the investor community for assets that are perceived to be more fair and accessible, possibly driven by socio-economic factors like inflation and disconnection from traditional finances. With meme coins, it would seem that a large part of humanity prefers a digital-native asset that is more closely tied to modern culture than to legacy financial systems.

Meme 币的经济吸引力 尽管存在这些陷阱，Meme 币的崛起证明了一个关键趋势：到 2022 年，其在山寨币市场中的占比将比 4% 增长 11%。这表明投资者群体对被认为更公平的资产的兴趣日益浓厚并且易于获取，可能是由通货膨胀和与传统金融脱节等社会经济因素驱动的。对于迷因币来说，大部分人似乎更喜欢与现代文化比传统金融系统联系更紧密的数字原生资产。

Long-term Prospects: Narratives Over Numbers?This would, in turn, suggest that further and continued success of such memecoin might be contingent essentially on their speculative value and on developing and maintaining special narratives to which users can relate. In fact, as space progresses in maturity, only those types of memecoin capable of creating distinct identities will, at some point, continue to exist and ultimately remain part of the ecosystem.

长期前景：叙事胜于数字？这反过来表明，这种模因币的进一步和持续成功可能主要取决于它们的投机价值以及开发和维护用户可以关联的特殊叙事。事实上，随着空间的成熟，只有那些能够创建独特身份的模因币才会在某个时刻继续存在并最终成为生态系统的一部分。

While technology-driven coins are looking toward innovation, memecoin is placing all its bets on a cultural and social appeal- a strategy that could, in a controlled manner, continuously attract investors who seek meaningful interaction within a decentralized market.

虽然技术驱动的硬币正在寻求创新，但 memecoin 将所有赌注都押在了文化和社会吸引力上——这一策略可以以可控的方式持续吸引那些在去中心化市场中寻求有意义的互动的投资者。

While memecoin is creating some interesting opportunities, it is highly risky and subject to market manipulation, so any participation should be done very carefully and with much information.

虽然 memecoin 正在创造一些有趣的机会，但它风险很高，并且容易受到市场操纵，因此任何参与都应该非常谨慎并提供大量信息。