Sol Price，ETF新闻，集会可持续性：解码Solana的下一步行动

Solana的ETF是否足以维持集会？我们深入了解Sol Price，ETF新闻以及其最近激增的可持续性。

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

Sol Price，ETF新闻，集会可持续性：解码Solana的下一步行动

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一直是该镇的谈话，窃窃私语和潜在的价格飙升。但是兴奋可以持续吗？让我们分解SOL价格，围绕ETF新闻的嗡嗡声以及该集会是否有腿。

Solana ETF: Initial Excitement vs. Institutional Demand

Solana ETF：最初的兴奋与机构需求

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发布会，尤其是具有堆叠功能的发射，最初通过加密社区引起了兴奋的涟漪。索尔甚至看到这一消息激增了7％。希望？那个机构投资者将堆积起来，并将Sol的价格推到200美元以上。但是，现实检查不久之后。索尔（Sol）涨到161美元，但调整为157美元，比24小时前的4％收益。交易者开始意识到，可以为一大堆山寨币推出类似的ETF。另外，Grayscale的Solana Trust（GSOL）仅管理约7500万美元的资产。将其与灰度以太坊信托（ETHE）相比，该信托（ETHE）在以太坊ETF发布前每月达到100亿美元。大区别，对吧？

Staking Unlocks and DApp Sell-Offs: Headwinds for SOL

Staking Unlocks和Dapp抛售：SOL的逆风

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.

即使索拉纳（Solana）用其ETF获得了第一步的优势，仍然存在障碍。根据Defillama的说法，预定在接下来的几个月中，预定价值5.85亿美元的SOL被解锁。这是很多潜在的销售压力。而且，不要忘记，Solana最成功的DAPP经常卸载其SOL持有量。例如，据报道，仅在2025年，泵就将价值超过4.04亿美元的SOL转移到了交易所。这项销售活动解释了为什么Sol的表现与竞争对手ETH和BNB的表现相匹配，尽管有看涨的ETF新闻，但在30天的时间内。

Network Activity and Competition: Is Solana Losing Its Edge?

网络活动和竞争：Solana是否失去了优势？

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资金率是交易员定位的指标，并没有完全尖叫看涨。尽管在四天内增长了12.5％，但它并没有破坏中性的10％阈值。另外，Onchain数据显示，自1月以来，Solana的网络收入下降了90％以上。哎哟。竞争正在加热。 Robinhood选择了一个以太坊2层网络用于令牌化的股票交易，并在基本网络上与Shopify合作进行了OnChain付款。这减少了Solana作为高输出DAPP的首选解决方案的吸引力。

Altcoin ETF Speculation and Capital Rotation

Altcoin ETF猜测和资本旋转

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.

随着第三季度的临近，市场上的眼睛注视着Altcoin ETF，包括Solana，XRP和Dogecoin。他们都以紧密的范围进行交易，暗示了潜在的突破。但是，当大型球员在等待时，资本已经在变化。投资者正在研究诸如Magacoin Finance之类的新项目，以获取可能更大的回报。

Final Thoughts: A Cautious Outlook

最终想法：谨慎的观点

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!

尽管Solana ETF的发布确实引起了一些嗡嗡声，但不太可能在很快就会推动大规模的Sol Rally升至200美元。 Staking解锁，DAPP的抛售和竞争增加都在压倒Sol的价格。对现有的Solana Trust工具的需求不足也无济于事。因此，尽管Solana仍然是加密货币领域的关键参与者，但保持期望可能是明智的。请记住，在加密人惊的世界中，任何事情都可能发生。因此，搭扣，保持知情，也许可以喝咖啡 - 您需要它！