当选总统唐纳德·特朗普在就职前在 Solana 上推出了 Memecoin

这是加密货币历史上最令人惊讶的举动之一。 《科比西信》在推特上评论道：“这太疯狂了。”

President-elect Donald Trump's main priority yesterday — at the same time as a big crypto ball was taking place in Washington — was to launch a memecoin on Solana.

当选总统唐纳德·特朗普昨天的首要任务是在 Solana 上推出模因币，与此同时，一场大型加密货币舞会正在华盛顿举行。

It was one of the most surprising moves in crypto history.

这是加密货币历史上最令人惊讶的举动之一。

“This is beyond insane,” wrote The Kobeissi Letter on X, commenting on the swift rise of the price of Trump’s token, which became the fastest memecoin ever to hit a $4 billion market cap, before adding, “What is happening?”

“这太疯狂了，”科​​比西在 X 上的信中写道，他评论了特朗普代币价格的迅速上涨，该代币成为有史以来最快达到 40 亿美元市值的模因币，然后补充道，“发生了什么？”

While the move was unanticipated, it's not to say it wasn't forewarned. Trump has been cosying up to the crypto industry for the last year now, with many signs of friendliness. He's engaged with key leaders of the industry, he's spoken at conferences, promised multiple executive orders, kicked out SEC Chair Gary Gensler and even launched his own crypto project World Liberty Financial. But an actual tradeable token tied to him? That's new.

虽然此举是出乎意料的，但这并不是说没有预先警告。去年，特朗普一直在向加密货币行业示好，有很多友好的迹象。他与该行业的主要领导人进行了接触，在会议上发表了演讲，承诺了多项行政命令，驱逐了 SEC 主席加里·根斯勒 (Gary Gensler)，甚至推出了自己的加密货币项目 World Liberty Financial。但与他相关的实际可交易代币？这是新的。

Shortly after the posts were made on Truth Social, there was a lot of skepticism whether this token was real — especially given that even the SEC's X account has been hacked before. Yet it wasn't long before projects like Solana exchange Jupiter confirmed that it was indeed real.

在 Truth Social 上发布这些帖子后不久，人们对这个代币是否真实存在很多怀疑——特别是考虑到甚至 SEC 的 X 账户之前也曾被黑客入侵过。然而不久之后，像 Solana 交换 Jupiter 这样的项目就证实了它确实是真实的。

Breaking down the token's ‘wild distribution’

打破代币的“疯狂分布”

One big issue and potential area of concern is the supply of the memecoin. Only 20% of the token's supply is currently on the market, half of which was allocated to be distributed to the public and the other half for providing liquidity on decentralized exchanges. Yet the remainder of the supply is set to be distributed to the creators of the memecoin and a company called CIC Digital, which is an affiliate of the Trump Organization.

模因币的供应是一个大问题和潜在的关注领域。目前市场上只有 20% 的代币供应，其中一半分配给公众，另一半用于在去中心化交易所提供流动性。然而，剩余的供应将分配给 memecoin 的创建者和一家名为 CIC Digital 的公司，该公司是特朗普集团的附属公司。

What this means is that the token's circulating market cap will differ massively from its fully diluted valuation. The current market cap is $4.3 billion but its FDV is just shy of $22 billion. This suggests a lot of selling pressure over the next few years. Some of the lockups have a cliff of just three months, meaning the team will be able to start selling daily for the next three years from that point.

这意味着该代币的流通市值将与其完全摊薄后的估值存在巨大差异。目前的市值为 43 亿美元，但其 FDV 略低于 220 亿美元。这表明未来几年将面临很大的抛售压力。有些锁定期只有三个月，这意味着从那时起，团队将能够在未来三年内开始每天销售。

“That is a wild distribution for a meme coin,” investigative YouTuber CoffeeZilla said on X, noting that “80% of tokens vest to insiders DURING the presidency.” These tokens are also currently held in a single wallet.

“对于模因币来说，这是一种疯狂的分配，”YouTube 调查者 CoffeeZilla 在 X 上表示，并指出“80% 的代币在总统任期内归属于内部人士。”这些代币目前也保存在一个钱包中。

Impact of the token launch

代币发行的影响

The launch of Trump's memecoin had a number of knock-on effects.

特朗普模因币的推出产生了一系列连锁反应。

For a start it directly impacted the prices of Trump’s NFT card collection, with prices rising fourfold in the last few hours. This has partly been to suggestions that the NFTs might get some sort of token allocation, as the official website says “See Card Allocation Here” with a link that goes to the distribution chart. No other details are provided and it's unclear whether the NFTs will actually receive any tokens and what the conditions would be.

首先，它直接影响了特朗普 NFT 卡系列的价格，在过去几个小时内价格上涨了四倍。这在一定程度上是因为 NFT 可能会获得某种代币分配，正如官方网站上所说的“请在此处查看卡分配”，并带有指向分配图表的链接。没有提供其他细节，也不清楚 NFT 是否会真正收到任何代币以及条件是什么。

The memecoin's launch also caused a huge surge in trading activity on Solana, with its daily volume rising to all-time highs. Yesterday saw $9.2 billion in trading volume, according to DefiLlama, while today has seen $9.34 billion so far. This caused strain on exchanges, such as Coinbase, which noted that some users may be experiencing delays on receiving and sending Solana around the time of the launch.

memecoin 的推出还导致 Solana 上的交易活动大幅激增，其每日交易量升至历史新高。根据 DefiLlama 的数据，昨天的交易量为 92 亿美元，而今天迄今为止的交易量为 93.4 亿美元。这给 Coinbase 等交易所造成了压力，该交易所指出，在 Solana 发布前后，一些用户可能会遇到接收和发送延迟的情况。

The launch did well for one trader in particular, who bought $1.1 million worth of TRUMP tokens within two minutes of the token going live. They sold some of these tokens for $3.65 million and continue to hold onto around $87 million of tokens — resulting in total proceeds above $90 million.

这次发布对一位交易员来说效果特别好，他在代币上线后两分钟内就购买了价值 110 万美元的 TRUMP 代币。他们以 365 万美元的价格出售了其中一些代币，并继续持有约 8700 万美元的代币，总收益超过 9000 万美元。

Looking ahead, Binance Futures is adding perpetuals for the Trump memecoin, with up to 25X leverage.

展望未来，币安合约交易平台将为特朗普模因币增加永续合约，杠杆率高达 25 倍。

How crypto twitter reacted

加密推特有何反应

Plenty of crypto natives weren't awake when the token launched and were notably upset that they missed out on the fastest token appreciation in history. “Never sleeping again,” posted the official Solana account on X.

当代币推出时，许多加密货币原住民还没有醒来，并且对他们错过了历史上最快的代币升值机会感到非常沮丧。 “再也睡不着了”，Solana 官方账户在 X 上发布。

“Never seen anything like this, SOL ripping and everything on chain nuking as people panic sell to fomo into Trump’s memecoin. What is going on,” said author Jason Williams.

“从来没有见过这样的事情，SOL 被撕毁，链上的一切都被毁掉，人们恐慌地抛售特朗普的模因币。发生了什么事，”作者杰森·威廉姆斯说。

Some argued that a President launching a memecoin directly before his inauguration couldn't be overstated. “Trump is going to juice the markets so much he’ll make Janet Yellen look like Volcker,” said Geiger Capital on X.

一些人认为，总统在就职前直接推出模因币这一点怎么夸大都不过分。盖格资本 (Geiger Capital) 在 X 网站上表示：“特朗普将极大地刺激市场，他会让珍妮特·耶伦 (Janet Yellen) 看起来像沃尔克 (Volcker)。”

While there was a lot of euphoria, some were skeptical that this memecoin was the right play for Trump. “It's hard to see this as anything but a pump and dump scheme. Schemes like this reinforce negative perceptions of crypto, making it hard for the space to gain trust & credibility,” said Rotki founder Lefteris Karapetsas.

虽然人们很兴奋，但有些人怀疑这种模因币是否适合特朗普。 “很难将此视为拉高抛售计划。像这样的计划强化了人们对加密货币的负面看法，使该领域很难获得信任和信誉。”Rotki 创始人 Lefteris Karapetsas 表示。

Crypto trader CL claimed the memecoin may help to onboard many Americans to crypto but that they might get

加密货币交易员 CL 声称模因币可能有助于许多美国人接触加密货币，但他们可能会得到