Solana的Dex卷已經上升，甚至超過了以太坊的功能，但是更深入的外觀揭示了網絡活動和Memecoin Mania的細微差別。

Solana's DEX Volumes Surge, But Network Activity Tells a More Complex Story

Solana的DEX量激增，但網絡活動講述了一個更複雜的故事

Solana's making waves! DEX volumes are up, even surpassing Ethereum's, but a deeper look reveals a more nuanced picture. Let's dive in.

Solana的波浪！ Dex卷正在增加，甚至超過以太坊的膠卷，但是更深入的外觀顯示出更加細微的圖片。讓我們潛水。

Solana DEX Volumes: Taking on Ethereum

Solana Dex卷：採用以太坊

Solana's decentralized exchanges (DEX) have been buzzing, racking up impressive volumes and even overtaking Ethereum to grab the number two spot. Over a recent 30-day period, Solana DEXs saw a whopping $64.1 billion in volume, leaving Ethereum's $61.4 billion in the dust. Raydium, Pump.fun, and Orca are the main players driving this growth.

索拉納（Solana）的分散交流（DEX）一直在嗡嗡作響，增加了令人印象深刻的捲，甚至超過以太坊以搶占第二名。在最近的30天期間，索拉納·德克斯（Solana Dexs）的數量高達641億美元，使以太坊的614億美元塵埃落定。 Raydium，Pump.Fun和Orca是推動這一增長的主要參與者。

A Deeper Dive: Network Activity Concerns

更深入的潛水：網絡活動問題

But here's the thing: While DEX volumes are soaring, overall network activity is still way down. We're talking 91% below the January peak. That's a significant drop, suggesting that the initial frenzy may have cooled off.

但這是事實：儘管DEX量飆升，但整體網絡活動仍在下降。我們的談話低於一月份的峰值91％。這是一個很大的下降，這表明最初的狂潮可能已經冷卻了。

Memecoin Mania Fading?

Memecoin Mania褪色？

Speaking of frenzy, remember the memecoin craze that fueled Solana's rise? Well, that seems to be losing steam, too. Many memecoins have taken a hit, with values plummeting by 25% or more. Tokens like Giga, Popcat, and even Bonk and WIF are feeling the pinch. The market seems to be shifting, and the memecoin magic isn't quite as potent as it once was.

說到瘋狂，還記得塞拉納（Solana）崛起的記憶熱潮嗎？好吧，這似乎也失去了動力。許多模因都受到了打擊，價值觀下降了25％或更多。像Giga，Popcat，甚至Bonk和Wif這樣的代幣都感覺到了。市場似乎正在轉移，而Memecoin Magic並不像以前那樣強大。

The Hyperliquid Factor

超流動因子

Another thing to watch is the rise of Hyperliquid. It's becoming the go-to blockchain for perpetual trading, with trading volumes far exceeding its competitors. This shift could pull traders away from Solana and other platforms, further impacting network activity. It seems that the competition is getting hotter.

要觀看的另一件事是超流液的興起。它已成為永久交易的首選區塊鏈，交易量遠遠超過了競爭對手。這種轉變可以使交易者脫離Solana和其他平台，從而進一步影響網絡活動。似乎比賽變得越來越熱。

Institutional Interest and the ETF Hope

機構利益和ETF希望

Despite these challenges, Solana still has a few tricks up its sleeve. Big investors are keeping a close eye on SOL, with significant movements of the token between large wallets. There's growing buzz about a potential Solana ETF, with prediction markets giving it a high chance of approval. If that happens, it could be a game-changer for Solana.

儘管面臨這些挑戰，但Solana仍然有一些技巧。大投資者密切關注SOL，在大筆錢包之間具有巨大的令牌動作。人們對潛在的Solana ETF的嗡嗡聲越來越大，預測市場給予了很大的認可機會。如果發生這種情況，它可能是Solana的遊戲規則改變者。

Solana's Strengths and Weaknesses

索拉納的優點和劣勢

Solana's got some solid tech under the hood. Its robust base layer supports asset availability, meaning tokens can be used as collateral. Plus, the absence of an offchain matching engine helps protect DEX users. However, the decline in network activity and the rise of competitors like Hyperliquid are real challenges that Solana needs to address.

索拉納（Solana）在引擎蓋下有一些堅實的技術。其穩健的基礎層支持資產可用性，這意味著令牌可以用作抵押品。另外，缺乏截斷的匹配引擎有助於保護DEX用戶。但是，網絡活動的下降和諸如Hyproliquid之類的競爭者的興起是Solana需要解決的真正挑戰。

Looking Ahead

展望未來

So, what's next for Solana? A return to the $180 mark is possible, especially if the ETF gets the green light. But for now, it's a mixed bag of soaring DEX volumes, cooling network activity, and shifting market dynamics. It's a rollercoaster, folks!

那麼，Solana的下一步是什麼？可以返回180美元的大關，尤其是如果ETF獲得綠燈。但是目前，它是一袋高聳的DEX量，冷卻網絡活動以及轉移市場動態。伙計們，這是過山車！

Disclaimer: This blog post is for informational purposes only and should not be considered financial advice.

免責聲明：此博客文章僅出於信息目的，不應被視為財務建議。