去年，加密货币市场最热烈讨论的主题之一是人工智能（AI）

然而，尽管这一直是一个主题，但长期以来一直是一个主题，这是一个充分的理由：乘坐投资者的热情，与AI相关的代币在加密货币市场中享有很多兴奋，并看到了很多增长

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

去年，加密货币市场最热门的主题之一是人工智能（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.

尽管这是一个长期讨论的主题，但它也是最近看到很多活动的主题。根据Tokenomist的深入研究，几个领先的AI和Ai-Agent Crypto项目正在准备在接下来的几个月中为重大令牌排放做准备。

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.

这些排放（已被锁定的代币的排放量都被设置在市场上），如果市场需求不等于新供应，则可以稀释任何当前的令牌持有人，并可能将价格降低。

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.

该研究强调，仅在接下来的六个月中，该市场将从AI代币领域获得超过15亿美元的新代币供应。 WorldCoin（WLD）以惊人的929.98美元的新令牌解锁为领先，比目前的循环供应高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.

预计在2025年10月左右，这浪将在同一时间范围内释放价值2.6595亿美元的令牌，占其流通供应的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之类的令牌因其高稀释比而受到特别关注。特别是规格将在未来六个月内增加153.95％的供应。

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.

同样，由于其循环浮动有限和快速解锁速度，AI（尽管具有较低的解锁价值为1634万美元），但AI被视为高风险。即使销售量最少，预计在短短六个月内将增加84.04％，也可能导致价格大幅下降。

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）也因供应通货膨胀而排队，在短期内，解锁百分比接近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.

查看接下来的12个月，AI行业的情况变得更加明显，近28亿美元的未锁定令牌有望添加到当前的供应中。

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再次脱颖而出，在同一时期内，预计的令牌却令人震惊，预计的代币已解锁，比目前的循环供应量增长了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，它看似极端的稀释率仍然令人惊讶。全年解锁为1.034亿美元，其供应量可能会增长多达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.

这种积极的解锁时间表可能需要强大的产品牵引力和合作伙伴关系，以应对新的代币供应的巨大卖方压力。

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.

同时，预计ATH和Cookie全年将保持一致的解锁。他们将看到85.58％和69.76％的循环供应增加。

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

虽然AI是加密货币最令人兴奋和潜在的奖励前沿之一，但大量的令牌旨在解锁构成挑战。

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.

在流动性和投资者情绪可能会迅速转移的市场中，叙事驱动的兴奋与解锁供应的令牌学之间的平衡至关重要。

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.

具有合理基础，采用不断提高和建立生态系统的倡议可能会危及稀释风暴。但是对于其他人来说，尤其是那些浮点低且速度较高的人，可能会在外面进行艰苦的估值重置。因此，对于AI加密货币领域的投资者来说，要密切注意何时可用并相应地调整其风险水平。