Over 80% of the newly listed cryptocurrencies are in the red on Binance, the world's largest cryptocurrency exchange.

在全球最大的加密貨幣交易所幣安上，超過 80% 新上市的加密貨幣處於虧損狀態。

More than 80% of the tokens listed during the past six months have fallen in value since their listing, raising concerning implications for investors looking for the newest cryptocurrencies.

過去六個月上市的代幣中，超過 80% 自上市以來貶值，這給尋求最新加密貨幣的投資者帶來了令人擔憂的影響。

From the 31 analyzed tokens, only five coins have appreciated, including the new memecoin (MEME), the Ordi token (ORDI), Solana-based Jupiter (JUP), and Jito (JTO), as well as Dogwifhat (WIF), according to pseudonymous crypto researcher Flow's May 17 X post:

根據分析，在 31 種代幣中，只有 5 種代幣升值，包括新 memecoin (MEME)、Ordi 代幣 (ORDI)、基於 Solana 的 Jupiter (JUP) 和 Jito (JTO) 以及 Dogwifhat (WIF)。加密貨幣研究員Flow 於5 月17 日發布的貼文：

Binance tokens listed during the past 6 months. Source: Flow

過去 6 個月內上市的幣安代幣。來源：Flow

The fact that over 80% of newly-launched tokens are in the red signals a challenging market environment, according to Anndy Lian, intergovernmental blockchain expert and author of NFT: From Zero to Hero.

政府間區塊鏈專家、《NFT：從零到英雄》一書的作者 Anndy Lian 表示，超過 80% 的新發行代幣處於虧損狀態，這表明市場環境充滿挑戰。

Lian told Cointelegraph that the current state of the cryptocurrency market has been described as calm, with certain altcoins still trending despite a general lack of momentum overall. He added:

Lian 告訴 Cointelegraph，加密貨幣市場的當前狀態被描述為平靜，儘管整體缺乏動力，但某些山寨幣仍在趨勢中。他加了：

"Many of the projects listed on Binance may have a longer period of growth, the growth may not be instant like the previous bull market..."

“幣安上上市的許多項目可能會有較長的增長期，增長可能不會像之前的牛市那樣是瞬間的…”

However, the new tokens on Binance are listed with an average fully diluted valuation (FDV) of over $4.2 billion despite not having a real user base. This can significantly limit their upside potential, according to pseudonymous researcher Flow:

然而，儘管沒有真正的用戶基礎，幣安上上市的新代幣的平均完全稀釋估值 (FDV) 仍超過 42 億美元。據匿名研究員 Flow 稱，這會極大地限制它們的上行潛力：

"More often than not, tokens launching on Binance are not investment vehicles anymore - all their upside potential is already taken away. Instead, they represent exit liquidity for insiders who capitalize on retail lack of access to quality early investment opportunities."

「通常情況下，在幣安上推出的代幣不再是投資工具——它們所有的上漲潛力都已經被剝奪了。相反，它們代表了利用散戶缺乏優質早期投資機會的內部人士的退出流動性。

Explore Cointelegraph's guide to discover the tools and strategies essential for trading cryptocurrency both safely and profitably.

探索 Cointelegraph 的指南，發現安全且有利可圖地交易加密貨幣所需的工具和策略。

Related: Dogwifhat en route to $10? WIF is now the third-biggest memecoin as whales hold tight

相關：Dogwifhat 即將漲至 10 美元？ WIF 現已成為第三大迷因幣，鯨魚緊握不放

Memecoins: the flavor of the month for retail investors

Memecoins：散戶本月的風尚

Despite having no venture capitalist (VC) backing, the Ordi token was the most profitable, up over 261% since launch, while controversial memecoin Dogwifhat took second place, with an over 117% price increase.

儘管沒有創投家 (VC) 的支持，Ordi 代幣仍然是最賺錢的，自推出以來上漲了 261% 以上，而備受爭議的 memecoin Dogwifhat 排名第二，價格上漲了 117% 以上。

Retail interest was the main factor driving memecoin growth, which can operate independently from the altcoin market segment, according to Lian, who told Cointelegraph:

Lian 告訴 Cointelegraph，零售興趣是推動 memecoin 成長的主要因素，memecoin 可以獨立於山寨幣細分市場運作：

"Since some of them are long-term HODL, many of the retail investors swarmed to memecoin. You can see that from the performance of $MEME and $WIF. In fact, if you looked the the trading volume. 6 of the top trading coins are memes."

「由於其中一些是長期持有，所以許多散戶投資者湧向memecoin。從$MEME和$WIF的表現就可以看出這一點。事實上，如果你看交易量。排名前6的交易硬幣是模因。

Further showcasing the hype around memecoins, Pepe hit a new all-time high of above $0.000010 on May 13, a day after Keith Gill — the man widely credited with kicking off the 2021 GameStop short squeeze — returned to social media.

佩佩在5 月13 日創下了0.000010 美元以上的歷史新高，進一步展示了圍繞memecoin 的炒作，而一天前基思·吉爾（Keith Gill）——被廣泛認為是2021 年GameStop 軋空的發起人— —重返社群媒體。

Capitalizing on the retail hype, one savvy Pepe trader turned $3,000 into $46 million within a month, during Pepe's rise to its recent all-time high.

一位精明的 Pepe 交易員利用零售炒作，在一個月內將 Pepe 的價格從 3,000 美元變成了 4,600 萬美元，期間 Pepe 升至近期歷史新高。

Magazine: UK cannabis millionaire's legal 'deals on wheels' via crypto

雜誌：英國大麻百萬富翁透過加密貨幣進行的合法“車輪交易”