山寨幣、Demand 和 Arthur Hayes：探索加密貨幣格局

分析 Arthur Hayes 對比特幣、以太坊和特定山寨幣在市場波動和需求動態中的見解。

Altcoins, Demand, and Arthur Hayes: Navigating the Crypto Landscape

山寨幣、Demand 和 Arthur Hayes：探索加密貨幣格局

The crypto market's a wild ride, ain't it? Arthur Hayes, BitMEX's co-founder, offers his take on Bitcoin, Ethereum, and altcoins, giving us a compass in this volatile sea. Let's dive in.

加密貨幣市場很瘋狂，不是嗎？ BitMEX 聯合創始人 Arthur Hayes 提出了他對比特幣、以太坊和山寨幣的看法，為我們在這片動蕩的海洋中提供了指南針。讓我們深入了解一下。

Hayes' Bitcoin Bullishness: $200,000+ Incoming?

海耶斯的比特幣看漲：20萬美元以上的收入？

Hayes believes Bitcoin could more than double in months, citing historical patterns of surges after supply drops. He's eyeing $200,000+, aligning with analysts' cycle expectations. He also acknowledges the traditional four-year crypto cycle, linking bull markets to monetary expansion in the US and China, anticipating a peak around late 2026 or early 2027.

海耶斯認為，比特幣在幾個月內可能會增加一倍以上，理由是供應量下降後比特幣價格飆升的歷史模式。他的目標是 20 萬美元以上，與分析師的周期預期一致。他還承認傳統的四年加密貨幣週期，將牛市與美國和中國的貨幣擴張聯繫起來，預計在 2026 年底或 2027 年初左右達到峰值。

Altcoins: Quality Over Hype

山寨幣：質量勝於炒作

Hayes points out that not all altcoins are created equal. He emphasizes the importance of "high-quality" tokens with real-world use cases and consistent revenue. Projects like Pendle, EtherFi, and Ethena, where users pay with BTC, ETH, or stablecoins, demonstrate measurable value flow. Low-liquidity tokens relying on market-making agreements, on the other hand, got exposed during recent liquidations.

海耶斯指出，並非所有山寨幣都是生而平等的。他強調了具有現實用例和穩定收入的“高質量”代幣的重要性。 Pendle、EtherFi 和 Ethena 等項目的用戶使用 BTC、ETH 或穩定幣進行支付，展示了可衡量的價值流。另一方面，依賴做市協議的低流動性代幣在最近的清算中暴露了風險。

Ethereum's Potential: A $10,000 Target

以太坊的潛力：10,000 美元的目標

Hayes, along with Tom Lee, is bullish on Ethereum, predicting it could hit $10,000 by year-end. Despite lagging behind other blockchains this cycle, ETH is poised to catch up, supported by both technical charts and fundamentals. The recent break above its 4-year trading range suggests price discovery at a new level.

Hayes 和 Tom Lee 都看好以太坊，預計到年底它的價格可能會達到 10,000 美元。儘管本週期落後於其他區塊鏈，但在技術圖表和基本面的支持下，ETH 有望迎頭趕上。最近突破四年交易區間表明價格發現達到了一個新水平。

Market Shakeouts and ETF Confidence

市場震盪和 ETF 信心

Matt Hougan from Bitwise sees recent market crashes as short-lived events within a strong bull market. Despite significant deleveraging events and price drops, the crypto market has shown resilience. Strong ETF inflows signal returning institutional confidence, particularly in Bitcoin and Ethereum ETFs.

Bitwise 的 Matt Hougan 認為最近的市場崩盤是強勁牛市中的短暫事件。儘管發生了重大的去槓桿化事件和價格下跌，但加密貨幣市場仍表現出彈性。強勁的 ETF 流入標誌著機構信心的恢復，尤其是對比特幣和以太坊 ETF 的信心。

Delistings: A Necessary Evil?

下架：必要之惡？

OKX's decision to delist altcoins like SLERF, ALPHA, BADGER, OAS, MLN, and AIDOGE highlights the exchange's commitment to maintaining a robust trading environment. While unfortunate for holders of those specific tokens, it underscores the importance of project viability and adherence to listing criteria.

OKX 決定下架 SLERF、ALPHA、BADGER、OAS、MLN 和 AIDOGE 等山寨幣，這凸顯了該交易所對維持穩健交易環境的承諾。雖然對於這些特定代幣的持有者來說是不幸的，但它強調了項目可行性和遵守上市標準的重要性。

My Two Satoshis

我的兩個中本聰

Hayes' analysis, combined with market data, paints a picture of a maturing crypto landscape. While Bitcoin and Ethereum remain the frontrunners, select altcoins with genuine utility are poised to outperform. Market shakeouts are inevitable, but they also present opportunities. The key is to focus on quality, real-world demand, and long-term viability.

海耶斯的分析與市場數據相結合，描繪了一幅成熟的加密貨幣格局。雖然比特幣和以太坊仍然是領跑者，但具有真正實用性的精選山寨幣有望表現出色。市場震盪不可避免，但也帶來了機遇。關鍵是要關注質量、現實世界的需求和長期生存能力。

Wrapping Up

總結

So, there you have it, folks! Hayes' insights, seasoned with a dash of market analysis, give us a clearer view of what's poppin' in the crypto world. Remember, it's not just about the hype; it's about the hustle. Keep your eyes peeled, do your homework, and who knows, maybe you'll catch the next big wave!

所以，這就是你得到的，伙計們！海耶斯的見解加上大量的市場分析，使我們能夠更清晰地了解加密貨幣世界的流行趨勢。請記住，這不僅僅是炒作；而是。這是關於喧囂的。擦亮眼睛，做好功課，誰知道呢，也許你會趕上下一波大浪潮！