Sol Price，ETF新聞，集會可持續性：解碼Solana的下一步行動

Solana的ETF是否足以維持集會？我們深入了解Sol Price，ETF新聞以及其最近激增的可持續性。

SOL Price, ETF News, Rally Sustainability: Decoding Solana's Next Move

Sol Price，ETF新聞，集會可持續性：解碼Solana的下一步行動

Solana's been the talk of the town, with whispers of ETFs and a potential price surge. But can the excitement last? Let's break down the SOL price, the buzz around ETF news, and whether this rally has legs.

Solana一直是該鎮的談話，竊竊私語和潛在的價格飆升。但是興奮可以持續嗎？讓我們分解SOL價格，圍繞ETF新聞的嗡嗡聲以及該集會是否有腿。

Solana ETF: Initial Excitement vs. Institutional Demand

Solana ETF：最初的興奮與機構需求

The Solana ETF launch, particularly the one featuring staking capabilities, initially sent ripples of excitement through the crypto community. SOL even saw a 7% surge on the news. The hope? That institutional investors would pile in and push SOL's price past $200. However, the reality check hit soon after. While SOL rallied to $161, it adjusted to $157, a 4% gain from 24 hours prior. Traders began to realize that similar ETFs could be launched for a whole bunch of altcoins. Plus, Grayscale’s Solana Trust (GSOL) manages only about $75 million in assets. Compare that to the Grayscale Ethereum Trust (ETHE), which held a whopping $10 billion a month before the Ethereum ETF launch. Big difference, right?

Solana ETF發布會，尤其是具有堆疊功能的發射，最初通過加密社區引起了興奮的漣漪。索爾甚至看到這一消息激增了7％。希望？那個機構投資者將堆積起來，並將Sol的價格推到200美元以上。但是，現實檢查不久之後。索爾（Sol）漲到161美元，但調整為157美元，比24小時前的4％收益。交易者開始意識到，可以為一大堆山寨幣推出類似的ETF。另外，Grayscale的Solana Trust（GSOL）僅管理約7500萬美元的資產。將其與灰度以太坊信託（ETHE）相比，該信託（ETHE）在以太坊ETF發布前每月達到100億美元。大區別，對吧？

Staking Unlocks and DApp Sell-Offs: Headwinds for SOL

Staking Unlocks和Dapp拋售：SOL的逆風

Even if Solana snags a first-mover advantage with its ETF, there are still hurdles to clear. About $585 million worth of SOL is scheduled to be unlocked from staking over the next couple of months, according to DefiLlama. That's a lot of potential selling pressure. And let's not forget that some of Solana's most successful DApps have been regularly offloading their SOL holdings. Pump, for example, reportedly transferred over $404 million worth of SOL to exchanges in 2025 alone. This selling activity explains why SOL’s performance has matched that of competitors ETH and BNB over a 30-day period, despite the bullish ETF news.

即使索拉納（Solana）用其ETF獲得了第一步的優勢，仍然存在障礙。根據Defillama的說法，預定在接下來的幾個月中，預定價值5.85億美元的SOL被解鎖。這是很多潛在的銷售壓力。而且，不要忘記，Solana最成功的DAPP經常卸載其SOL持有量。例如，據報導，僅在2025年，泵就將價值超過4.04億美元的SOL轉移到了交易所。這項銷售活動解釋了為什麼Sol的表現與競爭對手ETH和BNB的表現相匹配，儘管有看漲的ETF新聞，但在30天的時間內。

Network Activity and Competition: Is Solana Losing Its Edge?

網絡活動和競爭：Solana是否失去了優勢？

The SOL futures funding rate, an indicator of traders' positioning, hasn't exactly been screaming bullish. Despite a 12.5% gain over four days, it hasn't broken the neutral 10% threshold. Plus, onchain data shows that Solana's network revenue has plummeted by over 90% since January. Ouch. And the competition is heating up. Robinhood chose an Ethereum layer-2 network for tokenized stock trading, and Coinbase partnered with Shopify on the Base network for onchain payments. This diminishes Solana’s appeal as the go-to solution for high-output DApps.

Sol Futures資金率是交易員定位的指標，並沒有完全尖叫看漲。儘管在四天內增長了12.5％，但它並沒有破壞中性的10％閾值。另外，Onchain數據顯示，自1月以來，Solana的網絡收入下降了90％以上。哎喲。競爭正在加熱。 Robinhood選擇了一個以太坊2層網絡用於令牌化的股票交易，並在基本網絡上與Shopify合作進行了OnChain付款。這減少了Solana作為高輸出DAPP的首選解決方案的吸引力。

Altcoin ETF Speculation and Capital Rotation

Altcoin ETF猜測和資本旋轉

As Q3 approaches, the market's eyes are on altcoin ETFs, including Solana, XRP, and Dogecoin. They're all trading in tight ranges, hinting at a potential breakout. But while the big players wait, capital is already shifting. Investors are looking at new projects like MAGACOIN FINANCE for potentially bigger returns.

隨著第三季度的臨近，市場上的眼睛注視著Altcoin ETF，包括Solana，XRP和Dogecoin。他們都以緊密的範圍進行交易，暗示了潛在的突破。但是，當大型球員在等待時，資本已經在變化。投資者正在研究諸如Magacoin Finance之類的新項目，以獲取可能更大的回報。

Final Thoughts: A Cautious Outlook

最終想法：謹慎的觀點

While the Solana ETF launch did generate some buzz, it's unlikely to drive a massive SOL rally to $200 anytime soon. Staking unlocks, DApp sell-offs, and increased competition are all weighing on SOL's price. The lack of demand for existing Solana Trust instruments doesn't help either. So, while Solana remains a key player in the crypto space, it might be wise to keep expectations in check. And remember, in the ever-turbulent world of crypto, anything can happen. So buckle up, stay informed, and maybe grab a coffee – you'll need it!

儘管Solana ETF的發布確實引起了一些嗡嗡聲，但不太可能在很快就會推動大規模的Sol Rally升至200美元。 Staking解鎖，DAPP的拋售和競爭增加都在壓倒Sol的價格。對現有的Solana Trust工具的需求不足也無濟於事。因此，儘管Solana仍然是加密貨幣領域的關鍵參與者，但保持期望可能是明智的。請記住，在加密人驚的世界中，任何事情都可能發生。因此，搭扣，保持知情，也許可以喝咖啡 - 您需要它！