$特朗普是特朗普在第二次就职典礼之前发起的纪念因素，自周五以来上涨了10％

该事件被称为令牌解锁，预计通过增加供应量会降低Memecoin的价格，但似乎具有相反的效果。

The price of Trump’s memecoin has risen by 9% since Friday, when 40 million additional tokens were to be released into circulation.

自周五以来，特朗普的纪念品的价格上涨了9％，当时有4000万个代币将发行。

The event, known as a token unlock, was expected to depress the memecoin’s price by increasing its supply but it seems to have had the opposite effect.

该事件被称为令牌解锁，预计通过增加供应量会降低Memecoin的价格，但似乎具有相反的效果。

Token unlocks are when a group of people—usually project team members, early investors or advisors—receive their allocated tokens for free or at a lower price after a predetermined amount of time and are allowed to sell them. Token unlocks are a way for project founders to guarantee to investors that they won’t do a rug pull—a common scam in which a memecoin project’s team members dump their holdings at once, tanking the token’s price and leaving investors holding the bag.

令牌解锁是当一群人（通常是项目团队成员，早期投资者或顾问）免费分配给他们的代币时，以预定的时间后以较低的价格分配给他们，并被允许出售他们。令牌解锁是项目创始人向投资者保证不会进行地毯的一种方式，这是一个常见的骗局，其中Memecoin Project的团队成员立即将其持有，使代币的价格下跌并让投资者持有袋子。

The tokens that were released last week were allocated to “creators and CIC digital,” according to the token’s website. While the identity of the token’s creators is unclear, CIC Digital is a company known to be affiliated with Trump. As the $330 million worth of tokens were unlocked, investors feared that these holders would immediately try to turn a profit by dumping the tokens into the undated

根据Token的网站，上周发布的代币分配给了“创作者和CIC数字”。尽管令牌创作者的身份尚不清楚，但CIC Digital是一家已知与特朗普有联系的公司。由于价值3.3亿美元的代币被解锁，投资者担心这些持有人会立即试图通过将代币倒入未注明日期的

Despite these concerns, the team has not made any significant sales yet, according to crypto analysis firm Chainalysis. “As of 1 p.m. ET on Monday, Chainalysis hasn’t detected any on-chain actions from the creators of $Trump coins,” the firm told Fortune.

尽管有这些担忧，但根据加密分析公司链分析，该团队尚未进行任何重大销售。该公司告诉《财富》，“截至周一，截至周一，链条分析尚未发现$特朗普硬币的创建者的任何链子行动。”

The token team’s perceived commitment to the project has led to increased confidence in the token’s longevity, leading investors to rush back over the weekend, Dylan Bane, an analyst at research firm Messari, told Fortune.

研究公司Messari的分析师Dylan Bane告诉Fortune，该团队对该项目的感知承诺使人们对代币的寿命有了增强的信心，这使投资者在周末急于回来。

“Because the price hasn’t gone down and a large-scale sale has not occurred, the markets might be pricing in the possibility that the Trump team just chooses to hold on to these tokens,” Bane said.

贝恩说：“由于价格尚未下跌，而且没有进行大规模销售，因此市场可能是因为特朗普团队选择坚持这些代币的可能性。”

However, this does not mean that the team behind the token won’t ever sell, Bane added. While there were 200 million tokens released for the launch in January, there are staggered unlocks scheduled every few months until 2028, when the total supply of tokens will reach 1 billion.

但是，这并不意味着代币背后的团队永远不会出售。虽然一月份发布了2亿个令牌，但预定每隔几个月就有交错的解锁，直到2028年，届时代币的总供应将达到10亿。

“There’s a lot more to be unlocked,” Bane said. “So, if the price goes down, that’s not in the team’s interest since most of their tokens are not unlocked yet.”

贝恩说：“还有很多要解锁的。” “因此，如果价格下跌，那不符合团队的利益，因为他们的大多数令牌尚未解锁。”

Investors’ anxiety with Trump’s memecoin may be justified. The coin’s entry into the market was tumultuous, skyrocketing from $1.21 to $75.35 within its first two days, reaching a total market cap of $14 billion. But the coin’s price began to plummet soon after, and it has lost 90% of its value since Jan. 19. The token’s price now sits at $8.28.

投资者对特朗普的纪念物的焦虑可能是有道理的。硬币的进入市场是动荡的，在头两天内从1.21美元上涨至75.35美元，达到了140亿美元的总市值。但是硬币的价格不久之后就开始下降，自1月19日以来，它的价值损失了90％。代币的价格现在为8.28美元。

In the aftermath of the launch, investors lost more than $2 billion, according to an analysis by Chainalysis for The New York Times. Meanwhile, Trump-affiliated entities have produced $350 million in revenue from trading fees and selling the token itself, according to an analysis conducted by the Financial Times.

纽约时报的链分析分析显示，在发布后，投资者损失了超过20亿美元。同时，根据《金融时报》进行的一项分析，与特朗普相关的实体从交易费用获得了3.5亿美元的收入，并出售了代币本身。

According to the memecoin’s website, two Trump-affiliated entities—CIC Digital and Fight Fight Fight—will own 80% of the 1 billion total $Trump tokens once they are all unlocked in 2028. That would mean, at its current price, Trump’s team stands to walk away from the project with a profit in the billions of dollars.

根据Memecoin的网站，两个特朗普附属实体（CIC Digital and fight战斗）将在2028年全部解锁10亿美元的$特朗普代币中拥有80％。

It’s unclear how much of the token Trump and his family own directly, if at all.

目前尚不清楚特朗普和他的家人有多少直接的，如果有的话。