為什麼山寨幣本週暴跌

本週的加密貨幣大屠殺不僅限於比特幣，在利率上升的情況下，山寨幣也出現了兩位數的下跌。卡爾達諾暴跌 13.5%，Uniswap 暴跌 14.8%，狗狗幣暴跌 20%。催化劑是聯準會推遲降息的建議，導致「避險」交易和債券殖利率上升。市場情緒的轉變使得加密貨幣等高風險資產的吸引力下降。

Cryptocurrency Market Experiences Steep Decline Amidst Rising Interest Rates

利率上升導致加密貨幣市場大幅下滑

New York, March 10, 2024 - The cryptocurrency market has undergone a significant downturn this week, with the values of several prominent tokens dropping by double-digit percentages. While Bitcoin (CRYPTO: BTC) has experienced a 2.8% decline, trading at $67,455 at the time of writing, the impact has been particularly severe for altcoins.

紐約，2024 年 3 月 10 日 - 加密貨幣市場本週經歷了大幅下滑，幾種知名代幣的價值下跌了兩位數百分比。儘管比特幣（加密貨幣：BTC）下跌了 2.8%，截至撰寫本文時交易價格為 67,455 美元，但對山寨幣的影響尤其嚴重。

According to data from S&P Global Market Intelligence, Cardano (CRYPTO: ADA) has plummeted by as much as 13.5% over the past week, Uniswap (CRYPTO: UNI) has witnessed a 14.8% drop, and Dogecoin (CRYPTO: DOGE) has suffered a decline of 20% from its peak. As of 2 p.m. ET on Friday, these tokens were still trading down by 9.1%, 11.2%, and 14.1%, respectively.

根據標準普爾全球市場情報的數據，卡爾達諾（CRYPTO：ADA）過去一周暴跌高達 13.5％，Uniswap（CRYPTO：UNI）下跌 14.8％，狗狗幣（CRYPTO：DOGE）也遭受重創。較峰值下降了20%。截至下午 2 點截至週五東部時間，這些代幣的交易價格仍分別下跌 9.1%、11.2% 和 14.1%。

The catalyst for this market sell-off has been the announcement by Federal Reserve officials that a reduction in the benchmark federal funds rate may be delayed for longer than previously anticipated. This has triggered a "risk-off" sentiment in the markets, leading to a surge in interest rates both in the United States and globally.

這次市場拋售的催化劑是聯準會官員宣布降低基準聯邦基金利率的時間可能會比先前預期的推遲。這引發了市場的「避險」情緒，導緻美國和全球利率飆升。

As reported by Bloomberg, the yield on the U.S. 10-year Treasury bond has increased by 6 basis points in the past day and 22 basis points within the last month, reaching 4.37%. Similarly, bond yields for most European countries have also risen by single-digit basis points during these periods.

根據彭博社報道，美國10年期公債殖利率過去一天上漲6個基點，上個月上漲22個基點，達4.37%。同樣，大多數歐洲國家的債券殖利率在此期間也上漲了個位數基點。

Consequentially, the rising interest rates are making fixed-income assets more attractive relative to higher-risk assets, including growth stocks and cryptocurrencies. The historical correlation between interest rate hikes and declining crypto prices, as observed in 2022, has manifested again this week.

因此，利率上升使得固定收益資產相對於成長股和加密貨幣等高風險資產更具吸引力。正如 2022 年觀察到的那樣，升息與加密貨幣價格下跌之間的歷史相關性本週再次顯現出來。

Token-Specific News and Developments

特定代幣的新聞和動態

Cardano has specifically faced headwinds due to Grayscale's decision to remove the token from its multiasset funds during a quarterly rebalancing. Despite its potential as a low-cost and efficient blockchain, Cardano has failed to attract the expected number of users and developers, leading to a decline in its value as investors lose confidence.

由於灰度決定在季度重新平衡期間從其多資產基金中刪除該代幣，卡爾達諾尤其面臨阻力。儘管卡爾達諾具有低成本、高效區塊鏈的潛力，但它未能吸引預期數量的用戶和開發者，導致其價值隨著投資者失去信心而下降。

Uniswap, on the other hand, has received more positive news with its announcement of surpassing $2 trillion in all-time trading volume. It took the decentralized exchange 42 months to reach $1 trillion in volume, but it achieved the next $1 trillion in just 24 months.

另一方面，Uniswap 則收到了更多正面消息，宣布歷史交易量突破 2 兆美元。這家去中心化交易所花了 42 個月的時間才達到 1 兆美元的交易量，但它只花了 24 個月就實現了下一個 1 兆美元。

Dogecoin's decline has been partly attributed to the waning popularity of meme coins in the current interest rate environment. Additionally, the impending launch of Dogecoin20 in April may bring increased competition within the meme coin space. Dogecoin20 is also expected to be deflationary, unlike the inflationary Dogecoin, which could potentially attract investors seeking alternative options.

狗狗幣的下跌部分歸因於迷因幣在當前利率環境下受歡迎程度的下降。此外，即將於 4 月推出的 Dogecoin20 可能會加劇迷因幣領域的競爭。與通貨膨脹的狗狗幣不同，狗狗幣 20 預計也會出現通貨緊縮，這可能會吸引尋求替代選項的投資者。

Volatility and Market Risks

波動性和市場風險

The cryptocurrency market has historically exhibited a high degree of volatility, and its correlation with growth and tech stocks means that its prices are susceptible to fluctuations in interest rates and investor expectations.

加密貨幣市場歷來表現出高度的波動性，其與成長股和科技股的相關性意味著其價格容易受到利率和投資者預期波動的影響。

As investors approach 2024, a significant risk to consider is whether the overall market has become overvalued. A decline in growth or earnings could potentially end the recent bull run, resulting in a sell-off across asset classes, including cryptocurrencies.

隨著 2024 年的臨近，投資人需要考慮的一個重大風險是整體市場是否被高估。成長或獲利下降可能會結束最近的牛市，導致包括加密貨幣在內的各種資產類別遭到拋售。

Long-Term Perspective and Investment Considerations

長遠眼光和投資考量

While the recent market correction may cause concern, it is important to recognize that the cryptocurrency sector remains in its early stages of development. The long-term potential of blockchain technology and its applications in various industries is still substantial.

雖然最近的市場調整可能會引起擔憂，但重要的是要認識到加密貨幣行業仍處於發展的早期階段。區塊鏈技術及其在各行業應用的長期潛力仍然巨大。

However, investors should approach cryptocurrency investments with caution and consider the risks involved. The most promising long-term investments are likely to be companies that are harnessing the power of blockchain technology to enhance their efficiency, while remaining agnostic to specific cryptocurrencies.

然而，投資者應謹慎對待加密貨幣投資並考慮所涉及的風險。最有前途的長期投資可能是那些利用區塊鏈技術的力量來提高效率，同時對特定加密貨幣保持不可知的公司。

Disclaimer

免責聲明

Investing in cryptocurrencies involves risks and uncertainties. Investors should carefully consider their financial objectives, risk tolerance, and research the specific tokens and platforms before making investment decisions. The opinions expressed in this article should not be construed as financial advice.

投資加密貨幣涉及風險和不確定性。投資者在做出投資決定之前應仔細考慮自己的財務目標、風險承受能力，並研究特定的代幣和平台。本文所表達的意見不應被視為財務建議。