去年，加密貨幣市場最熱烈討論的主題之一是人工智能（AI）

然而，儘管這一直是一個主題，但長期以來一直是一個主題，這是一個充分的理由：乘坐投資者的熱情，與AI相關的代幣在加密貨幣市場中享有很多興奮，並看到了很多增長

One of the crypto market’s most hotly discussed themes over the last year has been artificial intelligence (AI).

去年，加密貨幣市場最熱門的主題之一是人工智能（AI）。

While this is a theme that's long been discussed, it's also a theme that's seen a lot of activity recently. As per an in-depth study by Tokenomist, several leading AI and AI-agent crypto projects are preparing for major token emissions in the next few months.

儘管這是一個長期討論的主題，但它也是最近看到很多活動的主題。根據Tokenomist的深入研究，幾個領先的AI和Ai-Agent Crypto項目正在準備在接下來的幾個月中為重大令牌排放做準備。

These emissions—where tokens that have been locked up are set free into the market—could dilute any current token holders and potentially push prices down if the market demand does not equal the new supply.

這些排放（已被鎖定的代幣的排放量都被設置在市場上），如果市場需求不等於新供應，則可以稀釋任何當前的令牌持有人，並可能將價格降低。

The study highlights that in the next six months alone, the market is set to receive over $1.5 billion in new token supply from the AI token sector. Worldcoin (WLD) leads the pack with an astounding $929.98 worth of new tokens unlocking—73.94% more than its current circulating supply.

該研究強調，僅在接下來的六個月中，該市場將從AI代幣領域獲得超過15億美元的新代幣供應。 WorldCoin（WLD）以驚人的929.98美元的新令牌解鎖為領先，比目前的循環供應高73.94％。

This wave of unlocks is expected to peak around October 2025 with GRASS set to release $265.95 million worth of tokens in the same timeframe, amounting to 67.04% of its circulating supply.

預計在2025年10月左右，這浪將在同一時間範圍內釋放價值2.6595億美元的令牌，佔其流通供應的67.04％。

Tokens like SPEC, AI, and DEAI are receiving special attention for their high dilution ratios. SPEC, in particular, is set for a 153.95% increase in the supply over the next six months.

Spec，AI和DEAI之類的令牌因其高稀釋比而受到特別關注。特別是規格將在未來六個月內增加153.95％的供應。

In the same vein, AI—despite having a lower unlock value of $16.34 million—is viewed as high-risk due to its limited circulating float and quick unlock speed. Even a minimal amount of selling, with an expected 84.04% increase in just six months, could lead to some significant drops in price.

同樣，由於其循環浮動有限和快速解鎖速度，AI（儘管具有較低的解鎖價值為1634萬美元），但AI被視為高風險。即使銷售量最少，預計在短短六個月內將增加84.04％，也可能導致價格大幅下降。

Other tokens—like IO, ATH, and COOKIE—are also in line for considerable supply inflations, with unlock percentages nearing 44% to 50% in the short term.

其他令牌（例如IO，ATH和Cookie）也因供應通貨膨脹而排隊，在短期內，解鎖百分比接近44％至50％。

Looking at the next 12 months, the situation in the AI sector becomes even more pronounced, with nearly $2.8 billion worth of unlocked tokens poised to be added to the current supply.

查看接下來的12個月，AI部門的情況變得更加明顯，近28億美元的未鎖定令牌有望添加到當前的供應中。

Once again, WLD stands out with an astounding $1.84 billion in projected token unlocks over the same period—a 146.68% increase over its current circulating supply.

WLD再次脫穎而出，在同一時期內，預計的令牌卻令人震驚，預計的代幣已解鎖，比目前的循環供應量增長了146.68％。

However, SPEC continues to surprise with its seemingly extreme dilution ratio. With a full-year unlock of $105.34 million, its supply could grow by as much as 259.39% to effectively triple in size.

然而，它看似極端的稀釋率仍然令人驚訝。全年解鎖為1.034億美元，其供應量可能會增長多達259.39％，可有效地增加三倍。

This aggressive unlock schedule will likely require strong product traction and partnerships to counter the strong sell-side pressure from the new token supply.

這種積極的解鎖時間表可能需要強大的產品牽引力和合作夥伴關係，以應對新的代幣供應的巨大賣方壓力。

In the meantime, ATH and COOKIE are expected to maintain consistent unlocks throughout the year. They will see increases in circulating supply of 85.58% and 69.76%, respectively.

同時，預計ATH和Cookie全年將保持一致的解鎖。他們將看到85.58％和69.76％的循環供應增加。

While AI is one of crypto's most exciting and potentially rewarding frontiers, the large volume of tokens set to unlock poses a challenge.

雖然AI是加密貨幣最令人興奮和潛在的獎勵前沿之一，但大量的令牌旨在解鎖構成挑戰。

In a market where liquidity and investor sentiment can shift rapidly, the balance between narrative-driven excitement and the tokenomics of unlocked supply will be crucial.

在流動性和投資者情緒可能會迅速轉移的市場中，敘事驅動的興奮與解鎖供應的令牌學之間的平衡至關重要。

Initiatives with sound fundamentals, increasing adoption, and well-built ecosystems may weather the storm of dilution. But for others, especially those with low float and high unlock velocity, a grueling reset of their already thin valuations may be in the offing. As such, it would be prudent for investors in the AI crypto space to keep a close eye on when tokens become available and adjust their risk levels accordingly.

具有合理基礎，採用不斷提高和建立生態系統的倡議可能會危及稀釋風暴。但是對於其他人來說，尤其是那些浮點低且速度較高的人，可能會在外面進行艱苦的估值重置。因此，對於AI加密貨幣領域的投資者來說，要密切注意何時可用並相應地調整其風險水平。