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

在全球最大的加密货币交易所币安上，超过 80% 新上市的加密货币处于亏损状态。

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.

过去六个月上市的代币中，超过 80% 自上市以来已经贬值，这给寻求最新加密货币的投资者带来了令人担忧的影响。

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:

根据分析，在 31 种代币中，只有 5 种代币升值，包括新 memecoin (MEME)、Ordi 代币 (ORDI)、基于 Solana 的 Jupiter (JUP) 和 Jito (JTO) 以及 Dogwifhat (WIF)。匿名加密货币研究员 Flow 于 5 月 17 日发布的帖子：

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

过去 6 个月内上市的币安代币。来源：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.

政府间区块链专家、《NFT：从零到英雄》一书的作者 Anndy Lian 表示，超过 80% 的新发行代币处于亏损状态，这表明市场环境充满挑战。

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 告诉 Cointelegraph，加密货币市场的当前状态被描述为平静，尽管总体缺乏动力，但某些山寨币仍在趋势中。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..."

“币安上上市的很多项目可能会有较长的增长期，增长可能不会像之前的牛市那样是瞬间的……”

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，尽管没有真正的用户基础，币安上上市的新代币的平均完全摊薄估值 (FDV) 仍超过 42 亿美元。据匿名研究员 Flow 称，这会极大地限制它们的上行潜力：

"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."

“通常情况下，在币安上推出的代币不再是投资工具——它们所有的上涨潜力都已经被剥夺了。相反，它们代表了利用散户缺乏优质早期投资机会的内部人士的退出流动性。”

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

探索 Cointelegraph 的指南，发现安全且有利可图地交易加密货币所必需的工具和策略。

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

相关：Dogwifhat 即将涨至 10 美元？ WIF 现已成为第三大模因币，鲸鱼紧握不放

Memecoins: the flavor of the month for retail investors

Memecoins：散户投资者本月的风尚

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.

尽管没有风险投资家 (VC) 的支持，Ordi 代币仍然是最赚钱的，自推出以来上涨了 261% 以上，而备受争议的 memecoin Dogwifhat 排名第二，价格上涨了 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 告诉 Cointelegraph，零售兴趣是推动 memecoin 增长的主要因素，memecoin 可以独立于山寨币细分市场运作：

"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."

“由于其中一些是长期持有，所以许多散户投资者涌向memecoin。从$MEME和$WIF的表现就可以看出这一点。事实上，如果你看交易量。排名前6的交易硬币是模因。”

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 日创下了 0.000010 美元以上的历史新高，进一步展示了围绕 memecoin 的炒作，而一天前基思·吉尔（Keith Gill）——被广泛认为是 2021 年 GameStop 轧空的发起者——重返社交媒体。

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 交易员利用零售炒作，在一个月内将 Pepe 的价格从 3,000 美元变成了 4,600 万美元，期间 Pepe 升至近期历史新高。

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

杂志：英国大麻百万富翁通过加密货币进行的合法“车轮交易”