加密代幣發射的激增引起了人們對市場流動性的擔憂

2025年1月，有60萬多個加密代幣推出，與2024年1月相比增加了12倍

January 2025 saw more than 600,000 crypto token launches, a 12-fold increase compared to January 2024. The surge, fueled by platforms like Pump.fun, which simplify launches and let inexperienced traders enter the market quickly, has sparked concerns about market liquidity. At the same time, more than half of the cryptocurrencies launched from 2021 to early 2025 disappeared, and the percentage of failed tokens reached that same level between January and May 2025.

2025年1月，與2024年1月相比，有超過600,000個加密代幣的推出，增加了12倍。在諸如Pump.Fun之類的平台上，這種激增的湧入（簡化了發射並讓沒有經驗的交易者很快進入市場）引發了人們對市場流動性的擔憂。同時，從2021年到2025年初推出的一半以上的加密貨幣消失了，失敗的令牌百分比在1月至2025年5月之間達到了相同的水平。

Only the best survive

只有最好的生存

Unlocking token potential is indisputably harder than launching tokens, which is as simple as sending an email at this point. Launching tokens with actual use cases, connected to services and products people can use, takes a great deal more effort. Tokens add layers of intricacy to a company's day-to-day operations, and a launch is either irreversible or requires an unjustified effort. Launching a token prematurely is the most common mistake a Web3 project can make, and it is often fatal, so any project aiming for launch must establish why and how it intends to perform the process.

解鎖令牌潛力毫無疑問地比啟動令牌要困難，這與此時發送電子郵件一樣簡單。使用實際用例啟動令牌，與人們可以使用的服務和產品相關，需要花費更多的精力。令牌為公司的日常運營增加了複雜的層面，並且推出是不可逆轉的，或者需要不合理的努力。啟動代幣過早是Web3項目可以犯的最常見錯誤，而且通常是致命的，因此任何旨在啟動的項目都必須確定其為什麼以及如何執行該過程。

There's also the issue of timing the launch. This isn't so much about setting a date as it is about establishing the time frame when a project is positioned to overcome commercial, legal, and operational challenges.

還存在時間推出的問題。這並不是要設定日期，而是要確定項目定位以克服商業，法律和運營挑戰的時間範圍。