加密代币发射的激增引起了人们对市场流动性的担忧

2025年1月，有60万多个加密代币推出，与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，与2024年1月相比，有超过600,000个加密代币的推出，增加了12倍。在诸如Pump.Fun之类的平台上，这种激增的涌入（简化了发射并让没有经验的交易者很快进入市场）引发了人们对市场流动性的担忧。同时，从2021年到2025年初推出的一半以上的加密货币消失了，失败的令牌百分比在1月至2025年5月之间达到了相同的水平。

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.

解锁令牌潜力毫无疑问地比启动令牌要困难，这与此时发送电子邮件一样简单。使用实际用例启动令牌，与人们可以使用的服务和产品相关，需要花费更多的精力。令牌为公司的日常运营增加了复杂的层面，并且推出是不可逆转的，或者需要不合理的努力。启动代币过早是Web3项目可以犯的最常见错误，而且通常是致命的，因此任何旨在启动的项目都必须确定其为什么以及如何执行该过程。

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.

还存在时间推出的问题。这并不是要设定日期，而是要确定项目定位以克服商业，法律和运营挑战的时间范围。