在2024年，加密货币市场在其代币的价值方面经历了巨大的波动，尤其是在其完全稀释的估值（FDV）方面。

假设绝对最大供应正在发挥作用，FDV被理解为代币的总概念市值，那么向公众发布的所有代币现在都在循环，或者很快就会流通。

In the dynamic cryptocurrency landscape of 2024, tokens have exhibited sharp swings in their worth, particularly when considering their Fully Diluted Valuation (FDV). FDV is defined as the total notional market cap of a token, assuming the absolute maximum supply is in play—meaning all of the tokens released to the public are now, or will shortly be, circulating.

在2024年的动态加密货币景观中，令牌的价值急剧波动，尤其是在考虑其完全稀释的估值（FDV）时。假设绝对最大供应正在发挥，FDV被定义为代币的总概念市值，那么向公众发布的所有代币现在都在循环，或者很快就会流通。

Moreover, examining how a token's FDV has changed from its launch to the present moment provides valuable insights into crypto market dynamics. This article will analyze several tokens that debuted in 2024, January to now, on the performance spectrum, some displaying strong upward swings and others encountering downward trends.

此外，研究令牌的FDV从发布到当下是如何变化的，它为加密市场动态提供了宝贵的见解。本文将分析几个在2024年1月至现在首次亮相的令牌，在性能范围内，有些显示出强烈的向上摇摆，而另一些则遇到了向下趋势。

High Flyers: Tokens with Strong Demand and Tight Supply

高传单：需求强劲和供应紧张的令牌

Some tokens have defied the odds, experiencing substantial increases in FDV. These tokens demonstrate how high demand combined with limited supply can propel FDV to new heights.

有些令牌违反了赔率，FDV的大幅增加。这些令牌表明，需求高的需求与供应有限可以将FDV推向新的高度。

1. Hyperliquid ($HYPE)

1。超流动性（$炒作）

– Launch FDV: $6.5B → Current FDV: $15.9B (+2.4x)

- 启动FDV：$ 6.5B→当前FDV：$ 15.9B（+2.4X）

– Price Change: +145% | Market Cap Change: +120%

- 价格变化： +145％|市值变更： +120％

– Supply Dynamics: In converting demand to growth in FDV, Hyperliquid has managed to control very tightly its circulating supply. It has dropped from 370 million to 333 million circulating tokens only very recently, and in fact, if we might call it that, expect a Maiden Voyage drop into this tokenomics space to happen over the next 1 year.

- 供应动态：在将需求转换为FDV增长时，Hyproliquid设法控制了其循环供应。它直到最近才从3.7亿美元下降到3.33亿循环代币，实际上，如果我们这样称呼，预计在接下来的一年中，少女的航行会下降。

– Future Emissions: 11.88% of the circulating supply, valued at $662 million USD at the last check, will unlock over the next year.

- 未来的排放：在上一张支票中，循环供应量的11.88％将在明年上解锁。

2. Ondo ($ONDO)

2。ondo（$ ondo）

– Launch FDV: $2.2B → Current FDV: $8.2B (+3.7x)

- 启动FDV：$ 2.2B→当前FDV：$ 8.2B（+3.7倍）

– Price Change: +273% | Market Cap Change: +728%

- 价格变化： +273％|市值变更： +728％

– Supply Dynamics: Ondo’s circulating supply has more than doubled, from 1.43 billion to 3.17 billion tokens due to large supply unlocks. Despite this, demand has been strong enough to propel the FDV up 3.7 times, showcasing how the market has absorbed the additional supply.

- 供应动态：由于供应大量供应，Ondo的循环供应已翻了一番以上，从14.3亿到31.7亿代币。尽管如此，需求仍然足够强大，可以推动FDV上升3.7倍，展示了市场如何吸收额外的供应。

– Future Emissions: 61.4% of the circulating supply, worth $1.7 billion, will unlock in a cliff event over the next year, which could impact price stability.

- 未来的排放：循环供应量的61.4％，价值17亿美元，将在明年的悬崖活动中解锁，这可能会影响价格稳定性。

3. Celestia ($TIA)

3。Celestia（$ tia）

– Initial FDV: $2.3B → Current FDV: $3.9B (+70%)

- 初始FDV：$ 2.3B→当前FDV：$ 3.9B（+70％）

– Price Change: +52% | Market Cap Change: +206%

- 价格变化： +52％|市值变更： +206％

– Supply Dynamics: The supply of Celestia has increased steadily, with controlled releases and consistent demand that have driven growth in the fair value to decentralize. The supply grew from 267 million tokens to 537 million tokens over time. This unlocks gradually and steadily, which seems like a ‘slow-release’ supply. But we don’t see any sign so far of it being a supply problem (with price). So actually, the release and the price seem okay.

- 供应动态：Celestia的供应稳步增长，受控发行和一致的需求促使公允价值的增长以分散。随着时间的推移，供应从2.67亿个代币增加到5.37亿个令牌。这逐渐稳定地解锁，这似乎是“缓慢释放”的供应。但是，到目前为止，我们看不到任何迹象是一个供应问题（带有价格）。因此，实际上，发布和价格似乎还可以。

– Price Outlook: Over the next year, a little more than half of the currently circulating tokens will unlock in a linear fashion. That could be a problem for the price of Celestia. But will it be? Who knows?

- 价格前景：在明年，目前流通的代币中有一半以上将以线性方式解锁。这可能是Celestia价格的问题。但是会吗？谁知道？

The Plungers: When Supply Exceeds Demand

柱塞：当供应超过需求时

In contrast to the performance of some tokens, others have seen their Fully Diluted Valuation (FDV) suffer due to an oversupply that has outstripped demand. These tokens demonstrate the dangers of overissuance and the difficulty of maintaining post-hype market interest.

与某些令牌的性能相反，其他人则看到其完全稀释的估值（FDV）由于超出需求的过度供应而遭受的损失。这些令牌表明了过度发电的危险和保持后型市场兴趣的困难。

4. Dymension ($DYM)

4。dymension（$ dym）

– Launch FDV: $4.7B → Current FDV: $364M (-92%)

- 启动FDV：$ 4.7B→当前FDV：3.64亿美元（-92％）

– Price Change: -92% | Market Cap Change: -86%

- 价格变化：-92％|市值变更：-86％

– Supply Dynamics: Dymension’s circulating supply increased rapidly, from 146 million to 258 million tokens. This excessive unlock of tokens has crushed demand, leading to a dramatic 92% drop in price and a corresponding 86% fall in market cap.

- 供应动态：Dymension的循环供应迅速增加，从1.46亿个令牌增加到2.58亿个令牌。过度解锁令牌的需求破坏了需求，导致价格下降了92％，市值下降了86％。

– Future Emissions: Dymension faces a significant linear unlock of 83.42% of the circulating supply over the next year, which could further pressure its price.

- 未来的排放：同意在明年的循环供应量的83.42％面临着显着的线性解锁，这可能会进一步向其价格施加压力。

5. Wormhole ($W)

5。虫洞（$ W）

– Launch FDV: $13.3B → Current FDV: $1.1B (-92%)

- 启动FDV：$ 13.3B→当前FDV：$ 1.1B（-92％）

– Price Change: -92% | Market Cap Change: -87%

- 价格变化：-92％|市值变更：-87％

– Supply Dynamics: Wormhole’s circulating supply grew by 61%, from 1.8 billion to 2.9 billion tokens. Despite initial hype, the oversupply led to a

- 供应动态：虫洞的循环供应增长了61％，从18亿到29亿代币。尽管最初炒作，但供过于求的导致了