$ TRUMP MEME Crypto硬币：公众人物中的市场操纵还是新的时尚？

$ trump token席卷了加密货币世界。在发布后的几个小时内，它飙升至近55亿美元的市值，超过了狗狗（$ doge），这是历史上原始和最大的模因硬币。

The $TRUMP memecoin had a record-breaking launch, quickly amassing nearly $5.5 billion in market cap and outpacing even Dogecoin ($DOGE). Its arrival sparked intense discussion and debate within the crypto community.

$ trump Memecoin的创纪录推出，迅速积累了近55亿美元的市值，甚至超过了Dogecoin（$ doge）。它的到来引发了加密社区中激烈的讨论和辩论。

The token's rapid ascent saw it pulling capital from other altcoins, and even Bitcoin was not spared. This occurrence was a point of contention, with critics arguing that $TRUMP's surge depleted liquidity from more established tokens, potentially destabilizing the market, at least in the short term.

代币的快速上升使它从其他山寨币中汲取了资本，甚至比特币也无法幸免。这种情况是一个争论的点，批评家认为，至少在短期内，特朗普的激增耗尽了流动性，从更既定的代币中耗尽了流动性，可能会破坏市场的稳定。

As capital flows adjusted, we witnessed a chain-specific phenomenon. Being launched on Solana, $TRUMP's surge contributed to the chain's growing dominance in the memecoin space. With Solana boasting the highest TVL among chains at $12.1bn, some argued that this pattern, following in the footsteps of projects like Hawk Tuah memecoin, served as a cautionary tale of speculative excess.

随着资本流量的调整，我们目睹了特定于连锁的现象。 $特朗普的激增是在索拉纳（Solana）发起的，促成了连锁店在Memecoin领域的统治地位。索拉纳（Solana）在连锁店中拥有最高的电视台为121亿美元，有人认为，这种模式跟随霍克·图阿（Hawk Tuah Memecoin）等项目的脚步，是投机性过剩的警告性故事。

Adding to the intrigue, the launch coincided with an unusually quiet Friday evening. Whether this timing was a deliberate strategy to minimize scrutiny or a coincidence, it raised eyebrows among the many watchful eyes in a market already grappling with a reputation for scams and manipulations.

加剧了阴谋，发射恰逢周五异常安静。无论这个时机是最大程度地减少审查还是巧合的蓄意策略，它都引起了人们已经陷入骗局和操纵声誉的市场中许多关注的眼睛的关注。

The controversy intensified with discussions of a potential market manipulation and insider trading. Critics argued that the $TRUMP pump was the very definition of insider trading. Further fuelling the controversy, other social media blockchain ‘detectives' tracked wallets that made ‘generational wealth in 24 hours'; the claims so far remained speculative.

关于潜在市场操纵和内部交易的讨论，争议加剧了。批评者认为，$特朗普泵是内幕交易的定义。进一步加剧了争议，其他社交媒体区块链“侦探”追踪了“在24小时内成为世代财富”的钱包；到目前为止，这些主张仍然是投机性的。

Despite the sensational headlines, a Forbes report by Derek Saul offered a counterpoint to the claims that Trump himself reaped billions from the token's success. The article meticulously broke down why such calculations were misguided, including fully diluted valuation fallacy, locked tokens, and ownership uncertainty. Additionally, the exact split of token ownership between Trump-affiliated entities was unclear, making it impossible to calculate Trump's personal stake accurately.

尽管有轰动的头条新闻，但德里克·索尔（Derek Saul）的福布斯（Forbes）报告还是对特朗普本人从代币成功中获得数十亿美元的说法提出了对立。这篇文章刻薄地打破了为什么这种计算被误导的原因，包括完全稀释的估值谬误，锁定令牌和所有权不确定性。此外，尚不清楚特朗普附属实体之间的代币所有权的确切拆分，因此无法准确计算特朗普的个人股份。

$TRUMP Fueling Contradicting Views

$ trump加油矛盾的观点

Unsurprisingly, this polarizing token hardly allowed for a golden mean to be found in the buzzing crypto community; some stubbornly insisted the token epitomized everything that was wrong with crypto today—rampant speculation, insider profiteering, and a lack of real-world utility. Crypto Twitter feeds us with statements like “First president to rug pull in history”.

毫不奇怪，这种两极分化的代币几乎不允许在嗡嗡作响的加密社区中找到金色的含义。一些顽固的人坚持认为，如今的加密货币表现出了所有错误的缩影 - 猜测，内部人士的利润和缺乏现实世界的效用。加密推特（Crypto Twitter）向我们提供了诸如“第一任总统地剥夺历史”之类的声明。

Others saw it as a bold move that could bring crypto into the mainstream, describing $TRUMP as the best thing to happen to crypto.

其他人则认为这是一个大胆的举动，可以将加密货币带入主流，将$特朗普描述为加密货币的最好的事情。

Regardless of perspective, the token had undeniably brought attention to the industry. But does the saying ‘any PR is good PR' hold true for cryptocurrencies? This reflects an even broader debate within the industry about whether memecoins help or harm the legitimacy of cryptocurrency as a financial system and its opportunity to integrate with traditional finance.

不管有何观点，代币无可否认地引起了该行业的关注。但是，“任何公关对加密货币都正确的公关是正确的？这反映了该行业中关于模因是否有助于或损害加密货币作为金融体系的合法性及其与传统财务融合的机会的更广泛辩论。

The Global View on Crypto

关于加密的全球观点

The $TRUMP controversy has reignited concerns about crypto's global reputation. While the industry has made strides in adoption, it still struggles with public perception associated with speculation and mistrust. The resistance may often stem from a lack of understanding about the underlying technology, as people are still hesitant about embracing the unfamiliar and new—particularly within the traditional financial sectors.

$特朗普的争议重新激发了人们对加密全球声誉的担忧。尽管该行业在采用方面取得了长足的进步，但它仍然与与投机和不信任相关的公众看法斗争。抵抗通常可能是由于对基本技术缺乏了解，因为人们仍然犹豫不决地拥抱不熟悉和新的新技术，尤其是在传统的金融部门中。

Unlike Bitcoin or Ethereum, which focus on solving specific problems or enable decentralized solutions, memecoins often have quite limited utility. The rise of memecoins like $TRUMP, $MELANIA or $HAWK TUAH reinforces this perception of crypto being driven by community sentiment, social media hype, and celebrity endorsements rather than intrinsic value. As Business Insider notes, such tokens risk overshadowing crypto's potential to build meaningful on-chain economies and instead foster ecosystems on the edge of political territory. It is very questionable if this is an example of legitimizing crypto; memcoins, while attractive for many and a key cultural element of “crypto degens”, are a very poor example of blockchain's role in global finance. This leads to another important dilemma: are memecoins all that bad for crypto's reputation?

与比特币或以太坊不同的是，侧重于解决特定问题或实现分散解决方案，Memecoins通常的实用性往往非常有限。诸如$ trump，$ melania或$ hawk tuah之类的纪念因素的兴起增强了对加密货币的看法，这是由社区情绪，社交媒体炒作和名人代言而不是内在价值所驱动的。正如Business Insider所指出的那样，这种代币风险掩盖了Crypto的潜力，即建立有意义的链上经济体，而是在政治领土边缘促进生态系统。如果这是使加密合法化的一个例子，这是非常值得怀疑的。 Memcoins虽然对许多人来说是吸引人的，也是“加密Degens”的关键文化元素，但是区块链在全球金融中作用的非常糟糕的例子。这导致了另一个重要的困境：Memecoins对加密货币的声誉不好吗？

The $TRUMP token's launch demonstrates the industry's ability to capture mainstream attention, but it also pushes into the limelight the credibility-undermining speculation frenzy often seen in crypto. Whether $TRUMP symbolizes the beginning of a pro-regulatory movement or represents decay of the current state of the crypto reputation, only time will tell. If public figures and developers focus on creating real value, this will be the guiding light. Otherwise, the divide between crypto optimists and skeptics will only deepen. For now, $TRUMP serves as both a cultural phenomenon and a reflection of crypto's complex identity in the digital age, and we'll leave it at that.

特朗普的$ TOKEN发布的发布表明了该行业吸引主流关注的能力，但它也使众人瞩目，在Crypto中经常看到的狂热的猜测。 $ trump象征着促进运动的开始还是代表加密声誉的当前状态的衰减，只有时间才能说明。如果公众人物和开发人员专注于创造真正的价值，这将是指导光。否则，加密主义者乐观主义者和怀疑论者之间的鸿沟只会加深。就目前而言，特朗普既是一种文化现象，也是加密货币在数字时代复杂身份的反映，我们将其留下来。