新的分析強調了Altcoin市場日益嚴重的問題；在幾個加密項目中，令牌供應的急劇增加，給價格施加了巨大的下降壓力

該分析強調了山寨幣市場日益嚴重的關注。在幾個加密項目中看到，令牌供應的急劇增加，給價格施加了巨大的下降壓力。

A new analysis by Tokenomist has highlighted a growing concern in the altcoin market; that of several crypto projects seeing dramatic increases in token supply putting severe downward pressure on prices.

代幣主義者的一項新分析強調了Altcoin市場日益嚴重的問題。在幾個加密項目中看到，令牌供應的急劇增加，給價格施加了巨大的下降壓力。

In most cases, markets have struggled to absorb the new supply, with price and market cap often declining in tandem. This trend underscores a concerning mismatch between token emissions and investor demand, which is placing pressure on valuations across multiple ecosystems.

在大多數情況下，市場一直在努力吸收新的供應，價格和市值經常下降。這種趨勢強調了令牌排放和投資者需求之間的不匹配，這給多個生態系統的估值帶來了壓力。

According to data from Tokenomist, several projects have seen their circulating supply surge over the past month, but this increase has, in most cases, failed to be absorbed by the market, leading to significant price declines.

根據Tokenomist的數據，幾個項目在過去一個月中看到了它們的循環供應趨勢，但是在大多數情況下，這種增長未被市場吸收，導致價格大幅下降。

Over the past 30 days, several tokens saw significant increases in circulating supply.

在過去的30天中，幾個令牌的循環供應量顯著增加。

Key Observations:• All tokens with the highest 30D supply growth posted negative returns, confirming continued underperformance post-emissions.• Circulating supply growth ranged from +25% for Nyan Heroes to a whopping +71.9% for Taiko.• Among the top five, only Morpho registered a gain in market cap, while the remaining tokens experienced declines.

主要觀察結果：•所有具有最高30D供應增長的令牌均出現負回報，確認了持續的表現不佳後發射後。 •循環供應增長范圍從Nyan Heroes的 +25％到Taiko的高達 +71.9％。

The analysis focused on five projects: Nyan Heroes, Spectral, Morpho, Pyth Network, and Taiko. Among these projects, Nyan Heroes saw the smallest increase in circulating supply, with a 25% rise in the past 30 days.

分析重點是五個項目：Nyan Heroes，Spectral，Morpho，Pyth Network和Taiko。在這些項目中，Nyan Heroes的循環供應量最小，在過去30天內增長了25％。

However, despite this modest change in supply, Nyan Heroes suffered the most significant loss in market cap, with a 47.5% decrease and a 59.5% drop in price. This downturn left Nyan Heroes trading at $0.004565.

但是，儘管供應量的變化適度，Nyan Heroes遭受了最大的市值損失，下降了47.5％，價格下降了59.5％。這一低迷的尼安英雄的交易價格為0.004565美元。

Conversely, while Taiko saw the largest increase in circulating supply—a massive 71.9% over the period—it managed to post the smallest loss in market cap, at 14.5%.

相反，儘管Taiko的循環供應量最大（在此期間佔71.9％）的增加，但它的市場上限損失最小，為14.5％。

This flooding of the market with new tokens is a significant factor contributing to the broader crypto market downturn. As a result, several tokens saw triple-digit percentage drops in the past 30 days.

新的代幣市場氾濫是導致更廣泛的加密貨幣市場下滑的重要因素。結果，在過去30天中，幾個令牌的三位數下降了三位數。

The analysis offers a snapshot of the extreme volatility and fluidity in the altcoin market, where even small changes in token supply can have outsized impacts on price and market cap, ultimately highlighting the fragility of the market in the face of macroeconomic uncertainty and shifting investor sentiment.

該分析提供了Altcoin市場中極端波動性和流動性的快照，即使令牌供應的微小變化也可能對價格和市值產生巨大影響，最終突出了面對宏觀經濟不確定性和轉移投資者情緒的市場脆弱性。