Pumpswap流程$ 18B的交易，將總價值鎖定超過1億美元

儘管自3月19日在Solana的Pump.Fun Launchpad上首次亮相以來，泵施瓦普已經處理了超過180億美元的交易，並將其總價值鎖定在1億美元以上。

Despite launching just seven weeks ago on March 19 in Pump.fun's Solana launchpad, PumpSwap has already hit a staggering $18 billion in trade volume and $100 million in total value locked.

儘管僅七個星期前於3月19日在Pump.Fun的Solana Launchpad上推出，Pumpswap已經達到了驚人的180億美元貿易量，總價值鎖定了1億美元。

Daily trading this month has consistently stayed above $500 million, with nearly 500,000 wallets active on May 5, according to Dune Analytics—a 30 percent jump since April. This incredible activity continues to defy earlier warnings of a memecoin market cooldown.

根據Dune Analytics的數據，本月的每日交易本月一直保持在5億美元以上，50萬錢包活躍，這是自4月以來30％的增長。這項令人難以置信的活動繼續無視早期的Memecoin市場冷卻的警告。

A large part of the story is traders moving quickly between new tokens, aided by Solana’s fast and simple crypto wallets that connect directly to its d’apps. With easy access and a smooth user experience, it’s become much simpler for people to join early, move funds around, and react as memecoins shift direction.

故事的很大一部分是交易者在新的代幣之間迅速移動，這是Solana的快速而簡單的加密錢包，直接連接到其D'Apps。借助易於訪問和流暢的用戶體驗，人們可以儘早加入，移動資金並隨著Memecoins的轉移方向做出反應變得更加簡單。

But even as SOL hits new all-time highs and on-chain activity boils over, some skepticism remains over Solana’s long-term business model. Sygnum and other experts have pointed out how heavily Solana is relying on the volatile memecoin sector for revenue.

但是，即使索爾（Sol）達到了新的歷史高潮和鏈上的活動，但對索拉納（Solana）的長期商業模式仍然存在一些懷疑。 Sygnum和其他專家指出，Solana如何依賴揮發性的Memecoin部門來獲得收入。

That’s in contrast to what institutional investors usually prioritize—stability and security, which has often kept Ethereum in the spotlight. But Solana still has its share of supporters.

這與機構投資者通常優先級的穩定和安全性相反，穩定和安全，這通常使以太坊一直在焦點中。但是Solana仍然有其支持者的份額。

SRx Health Solutions (SRx) made headlines last week by acquiring over $1.5 million in SOL tokens as part of its broader asset diversification strategy, which includes allocating up to 10% of future earnings into crypto and precious metals. This move will see SRx invest in both Bitcoin and gold in addition to Solana.

SRX Health Solutions（SRX）上週通過收購超過150萬美元的SOL代幣作為其更廣泛的資產多元化策略的一部分，成為頭條新聞，其中包括將多達10％的未來收益分配給加密貨幣和貴金屬。此舉除了Solana之外，SRX還將投資比特幣和黃金。

The timing of SRx’s move shouldn’t be lost on market watchers. Bitcoin just cleared the $100,000 mark again—its first time since January—fueling a fresh wave of speculation that it could break past its all-time high before the end of the month.

SRX舉動的時機不應在市場觀察者身上丟失。比特幣再次清除了100,000美元的大關，這是自1月以來的第一次，這是一波新鮮的猜測，即它可能會在本月底之前超越其歷史最高水平。

This momentum comes as political scrutiny intensifies: a new proposal by Senate Democrats would ban U.S. presidents from holding or promoting crypto, a clear response to the Trump campaign quickly adding a Bitcoin donation program and token platforms.

隨著政治審查的加劇，這一勢頭是：參議院民主黨人的一項新提議將禁止美國總統舉行或促進加密貨幣，對特朗普競選活動的明確回應迅速增加了比特幣捐贈計劃和代幣平台。

Institutional capital is rolling in just as regulators step up scrutiny, creating a split-screen moment—soaring volumes on one side, mounting legal pressure on the other.

隨著監管機構的加強審查，機構資本正在滾動，創造了一個分屏的時刻，一方面大量的數量增加了法律壓力。

At the same time, the Federal Reserve has offered no clear signals on easing rates, further muddying the waters for traditional markets. With treasury yields stuck and inflation still above target, capital is continuing to spill into higher-risk, high-upside assets—including crypto.

同時，美聯儲還沒有明確的寬鬆率信號，這進一步使水域為傳統市場提供了混亂。由於財政部的收益卡住，並且通貨膨脹仍然高於目標，因此資本將繼續湧入高風險的高層資產，包括加密。

On-chain activity reflects the shift. Solana’s network has seen transaction throughput climb to over 1,000 TPS sustained, dwarfing Ethereum’s current rate and reinforcing its position among younger traders and retail flows.

鏈活動反映了轉變。 Solana的網絡已經使交易吞吐量攀升至1,000多個TP，這使以太坊的當前速度相形見,，並加強了其在年輕貿易商和零售流中的地位。

But what’s different now is how much of that traffic is tied to real capital movement. PumpSwap’s design, which allows anyone to spin up a token in seconds, has created a hyperactive micro-economy that’s chaotic but sticky, drawing разработчици, speculators, and opportunists all at once.

但是，現在不同的是，這些流量與真正的資本流動有關。 Pumpswap的設計允許任何人在幾秒鐘內旋轉一個令牌，它創造了一種多動的微觀經濟性，既混亂卻很粘，卻一次繪製了eartepAightators and STIGNATIONS，它一次繪製了Phautiant和機會主義者。

Still, there’s tension under the surface. Solana’s validators are racing to keep pace with the activity, and any network hiccups could invite fresh skepticism.

儘管如此，表面還是張力。索拉納（Solana）的驗證者正在與活動保持同步，任何網絡打ic都可能引起新的懷疑。

And while memecoins are dominating headlines, the underlying infrastructure—wallet UX, liquidity tools, token routing—is quietly evolving. Even institutional desks that once dismissed Solana as “retail noise” are now running pilots through it, often behind the scenes.

儘管Memecoins佔據了頭條新聞，但基礎基礎設施（Wallet UX，流動性工具，令牌路由）正在悄然發展。即使是曾經將索拉納（Solana）視為“零售噪音”的機構辦公桌，現在通常在幕後運營飛行員。

The next phase, according to several analysts, will hinge not just on price movement but also on narrative control. If Trump continues to pull crypto into the political mainstream, and if corporate players like SRx keep making large-scale allocations, we’re looking at a market that isn't just speculative. It’s the capital markets, but with different names and different tokens.

根據幾位分析師的說法，下一階段不僅將取決於價格變動，而且還取決於敘事控制。如果特朗普繼續將加密貨幣推向政治主流，如果像SRX這樣的公司參與者繼續進行大規模分配，我們將在尋找一個不僅投機的市場。這是資本市場，但具有不同的名稱和不同的令牌。

The guardrails are still missing, but the money’s already flowing.

護欄仍然缺失，但是這筆錢已經在流動。