Bitmart，Pump.Fun和Token的未来发布：Crypto的纽约分钟

pump.fun的代币发射面临持怀疑态度，因为Binance以其粘结曲线启发的新模型创新。这是Bitmart和代币启动的下一个演变吗？

Hold onto your hats, crypto enthusiasts! The wild world of meme tokens and decentralized finance never sleeps. BitMart Research has dropped some truth bombs about Pump.fun, while Binance is stepping up its game. Let's dive into the latest buzz around BitMart, Pump.fun, and the evolving landscape of token launches.

抓住您的帽子，加密爱好者！模因令牌和分散财务的野生世界永远不会入睡。 Bitmart的研究已经抛弃了一些关于泵的真相炸弹。FUN，而Binance正在加强游戏。让我们深入了解Bitmart，Pump.Fun和代币发射的不断发展的景观的最新嗡嗡声。

Pump.fun's $4 Billion Gamble: Skepticism Abounds

泵。Fun的40亿美元赌博：怀疑论比比皆是

Pump.fun, once the undisputed king of Solana meme token launches, is facing some serious side-eye. According to a BitMart Research report from July 14, 2025, the platform's recent token launch, PUMP, has investors scratching their heads. The main concern? A whopping $4 billion valuation for a token that offers absolutely zero governance, utility, or fee-sharing. Ouch!

Pump.Fun曾经是无可争议的Solana Meme代币发射的国王，正面临着严重的侧眼。根据2025年7月14日的Bitmart研究报告，该平台最近的令牌发布会引起了投资者的头脑。主要问题？对于提供绝对零治理，公用事业或收费分配的代币的估值高达40亿美元。哎哟!

Critics are whispering that this might be more of a liquidity grab than a genuine long-term strategy. With a fully unlocked $1.32 billion fundraising tranche, the potential for a massive sell-off looms large. Competitors like letsbonk.fun are nipping at Pump.fun's heels, and user sentiment is wavering. Is the king about to lose its crown?

批评家窃窃私语，认为这可能更多是一种流动性，而不是真正的长期战略。有了完全解锁的13.2亿美元的筹款活动，大规模售罄的潜力迫在眉睫。像letsbonk.fun这样的竞争对手在泵。国王即将失去王冠吗？

Tokenomics Under the Microscope

显微镜下的象征学

Let's break down the PUMP tokenomics. A total supply of 1 trillion tokens, with 33% earmarked for fundraising at $0.004 each. All these tokens were unlocked at launch, creating that aforementioned sell pressure cooker. While PUMP briefly traded above the sale price, the lack of intrinsic value is a major red flag.

让我们分解泵令牌。总供应量为1万亿个代币，33％的筹款费用为$ 0.004。所有这些令牌在发布时都被解锁，创建了上述卖出压力锅。虽然泵短暂地以高于销售价格的价格进行交易，但缺乏内在价值是一个主要的危险信号。

In contrast, competitors like letsbonk.fun and Jupiter Studio are building more robust token models. BONK, for example, integrates deflationary mechanisms and liquidity injections, while JUP offers staking rewards and governance rights. These tokens offer real utility and incentives for long-term holding, something PUMP sorely lacks.

相比之下，像Letsbonk.Fun和Jupiter Studio这样的竞争对手正在建立更强大的令牌模型。例如，BONK整合了通缩机制和流动性注射，而JUP则提供了奖励和治理权利。这些令牌提供了真正的实用性和长期持有的激励措施，这是非常缺乏的。

Binance Enters the Fray with a Pump.fun-Inspired Model

Binance用泵进入竞争。FUN风格的型号

Speaking of shaking things up, Binance is throwing its hat into the ring with a new token launch model inspired by Pump.fun's bonding curve. Launching on July 15, 2025, within the Binance Wallet, this model aims to revolutionize token distribution using real-time bonding curve pricing. Users can participate by holding Binance Alpha Points and BNB.

说到摇晃事情，Binance通过灵感来自Pump.Fun的粘结曲线的新令牌发射模型将其帽子扔到了戒指上。该模型于2025年7月15日推出，该模型旨在使用实时粘结曲线定价彻底改变令牌分布。用户可以通过持有Binance Alpha点和BNB来参与。

The key here is the dynamic pricing. As more people buy tokens, the price goes up. Early birds get the worm (or, in this case, cheaper tokens). This model also includes non-transferable tokens during the sale, an early exit option, and a collaboration with Four.Meme, a leading meme token launchpad on BNB Chain. Binance is clearly looking to steal some of Pump.fun's thunder.

这里的关键是动态定价。随着越来越多的人购买代币，价格上涨。早起的鸟类会蠕虫（或者在这种情况下是便宜的令牌）。该模型还包括在销售期间不可转移的代币，提前退出选项，以及与BNB链上领先的Meme Token Launchpad的Four.meme合作。 Binance显然希望偷一些泵。

A Researcher's $58,000 Oops Moment

研究人员的$ 58,000糟糕时刻

Now, for a bit of comic relief. A blockchain researcher, Chang Min Yu, accidentally burned approximately $58,000 worth of PUMP tokens. While clearing out his wallet, he mistook his PUMP tokens for spam and torched them. Talk about a facepalm moment!

现在，有点漫画。一个区块链的研究人员张明（Chang Min Yu）意外烧毁了价值约58,000美元的泵代币。在清理钱包的同时，他将泵令牌误认为是垃圾邮件，然后将其炸毁。谈论面孔时刻！

But here's the kicker: Min Yu isn't even mad. He's taking it all in stride, focusing on what he can control. He even joked about launching a "Fuck Pump" meme coin to recoup his losses. That's the spirit!

但这是踢球者：敏（Min Yu）甚至都不生气。他大步向前迈出了一切，重点是他可以控制的东西。他甚至开玩笑说发射“他妈的泵”模因硬币以弥补自己的损失。那就是精神！

The Bottom Line

底线

Pump.fun's token launch is facing some serious headwinds. The lack of utility, combined with a hefty valuation and growing competition, has investors on edge. Meanwhile, Binance is innovating with a new model that could shake up the entire token launch landscape. And, of course, there's always room for a good old-fashioned crypto mishap to keep things interesting.

Pump.Fun的代币发布正面临一些严重的逆风。缺乏公用事业，再加上高昂的估值和不断增长的竞争，使投资者处于边缘状态。同时，Binance正在通过一种新模型创新，该模型可能会动摇整个令牌发射景观。而且，当然，总有一个好的老式加密货币不事的空间使事情变得有趣。

So, what does all this mean? The world of crypto is constantly evolving. Platforms need to offer real value and utility to survive. And, sometimes, you just have to laugh when you accidentally burn $58,000 worth of tokens. It's all part of the adventure, right?

那么，这意味着什么？加密世界在不断发展。平台需要提供真正的价值和实用性才能生存。而且，有时候，当您不小心燃烧价值58,000美元的代币时，您只需要笑即可。这都是冒险的一部分，对吗？