加密貨幣市場在2025年第一季度受到了巨大打擊

在1月中旬（就在唐納德·特朗普就職典禮之前）達到頂峰3.8萬億美元之後，市場冷卻了，該季度以2.8萬億美元的價格結束。

The cryptocurrency market took a sharp hit in the first quarter of 2025, with total market capitalization dropping by 18.6%. After peaking at $3.8 trillion in mid-January — just before Donald Trump’s inauguration — the market cooled off, closing the quarter at $2.8 trillion. Along with this, average daily trading volumes also saw a major dip, falling 27.3% to $146 billion.

加密貨幣市場在2025年第一季度受到了巨大打擊，總市值下降了18.6％。在1月中旬（就在唐納德·特朗普就職典禮之前）達到頂峰3.8萬億美元之後，市場冷卻了，該季度以2.8萬億美元的價格結束。隨之而來的是，平均每日交易量也大幅下降，下降了27.3％，至1.46億美元。

While the market pulled back, Bitcoin strengthened its relative position, increasing dominance to 59.1%. This occurred even as BTC’s price fell 11.8% for the quarter, from its January ATH near $106k to close March around $82.5k, suggesting altcoins bore the brunt.

當市場退縮時，比特幣增強了其相對位置，將優勢提高到59.1％。即使BTC的價格在本季度下降了11.8％，從1月ATH近106K售價為11.8％，到3月在82.5萬美元左右收盤，這表明Altcoins首當其衝。

One of the biggest stories during this period was the surge and crash in the meme coin market. The launch of Donald Trump’s official meme coin and Melania’s shortly after set off a meme coin craze, with thousands of tokens being created daily on the pump.fun platform.

在此期間，最大的故事之一是模因硬幣市場的激增和崩潰。唐納德·特朗普（Donald Trump）的官方模因硬幣和梅拉尼亞（Melania）的推出不久後，在莫姆硬幣熱潮引發了，每天都會在pump.fun平台上創建成千上萬的令牌。

The platform hit a record of 72,000 new token deployments in a single day at the height of this trend.

該平台在這一趨勢的高峰期，在一天的高峰期間創下了72,000個新的代幣部署的記錄。

How Did the LIBRA Crash Impact Meme Sentiment & Pump.fun?The excitement around political-themed meme coins faded quickly after Argentinian President Javier Milei promoted a token called LIBRA. The coin’s price crashed soon after his tweet, with its market cap plunging from $4.6 billion to just $221 million in a few hours following a developer rug pull. This incident shook investor confidence in new meme tokens.

天秤座的崩潰如何影響模因情緒和泵。之後，以政治主題的模因硬幣迅速消失，因為阿根廷總統總統賈維爾·米利（Javier Milei）推廣了名為《天秤座》的象徵。硬幣的推文後不久，硬幣的價格從46億美元下降到開發商地毯的幾個小時內的2.21億美元。這一事件使投資者對新的模因令牌充滿信心。

Though some thought Milei’s account was hacked, he confirmed the post was real. Later, he deleted it and claimed he didn’t know the details of the project. Investigations have now been launched—both by the government and by the courts. Some are accusing Milei of breaking ethics laws, though there’s no evidence he made money from the project.

儘管有人認為麥利的帳戶被黑客入侵，但他確認該職位是真實的。後來，他刪除了它，聲稱他不知道該項目的細節。現在已經由政府和法院發起了調查。有些人指責麥利違反道德法，儘管沒有證據表明他從該項目中賺錢。

Since then, activity on pump.fun has dropped drastically. The number of new tokens deployed on the platform fell by 56.3% from its January peak, with only 31,000 being created daily by the end of March. Even the percentage of tokens that successfully moved out of the platform’s early stage, known as ‘graduated’ tokens, dropped from 1.4% in January to just 0.7%.

從那以後，泵的活動急劇下降。該平台上部署的新代幣數量從1月份的峰值下降了56.3％，到3月底，每天只創建31,000個。即使是成功從平台的早期階段（稱為“畢業”代幣）的代幣百分比也從一月份的1.4％下降到僅0.7％。