Solana Dex的数量激增，超级流动性的上升和Sol的价格摇摆：有什么问题？

Solana Dex量超过以太坊，超级流动性的优势使SOL投资者和Sol价格下跌。恢复是否正在地平线上？

Solana's DEX scene is buzzing, but not without its drama. While Solana's DEX volume has recently surpassed Ethereum's, Hyperliquid's rise and a SOL price decline are causing jitters. Let's dive in.

Solana的Dex场景嗡嗡作响，但并非没有戏剧。尽管Solana的DEX量最近超过了以太坊的量，但Hyperliquid的上升和Sol价格下跌正在引起令人不快的震动。让我们潜水。

Solana's DEX Volume: A Short-Lived Victory?

Solana的DEX卷：短暂的胜利？

Hold up, did Solana just flip Ethereum in DEX volume? Yep, for a moment there, Solana clocked in $64.1 billion in DEX volume over 30 days, edging past Ethereum's $61.4 billion, according to DefiLlama. Raydium, Pump.fun, and Orca are the main players driving this growth. But before you pop the champagne, remember that overall DEX activity on Solana is still way below (91%!) its January peak.

举起，Solana只是在DEX量中翻转以太坊吗？ Yep在那儿，Solana在30天内的DEX量为641亿美元，超过以太坊的614亿美元。 Raydium，Pump.Fun和Orca是推动这一增长的主要参与者。但是在您弹出香槟之前，请记住，Solana上的总体DEX活动仍低于（91％！）。

Memecoin Mania Meltdown

Memecoin Mania崩溃

The memecoin frenzy that once fueled Solana's growth is fading faster than a summer tan. Tokens like Giga, Popcat, Fartcoin, PNUT, Bonk, and WIF have all taken a nosedive, losing 25% or more in value. This memecoin slump is casting a shadow on Solana's DEX market share gains.

曾经加剧索拉纳（Solana）增长的纪念疯狂比夏季棕褐色的速度快。诸如Giga，Popcat，Fartcoin，Pnut，Bonk和Wif之类的代币都毫无疑问，价值25％或更多。这种模因低迷正在对Solana的DEX市场份额收益蒙上阴影。

Hyperliquid's Power Play

超流动的力量发挥

Here's where things get interesting (and a little concerning for SOL bulls). Hyperliquid is emerging as the king of perpetual futures trading. Its 30-day trading volume is a whopping 84% higher than its five largest competitors combined. This shift is making some investors question Solana's long-term dominance. The fear? Other projects might follow Hyperliquid's lead and launch their own independent blockchains, potentially luring away major Solana-based DApps like Pump.fun.

这是事情变得有趣的地方（对于Sol Bulls来说，有点关注）。杂种正在成为永久期货交易的国王。它的30天交易量比其五个最大竞争对手总和高出84％。这种转变使一些投资者质疑Solana的长期优势。恐惧？其他项目可能会跟随超级流动性的铅，并推出自己的独立区块链，并有可能引诱基于Solana的主要DAPP，例如Pump.Fun。

SOL's Price: A Rocky Ride

索尔的价格：艰难的旅程

All this uncertainty is reflected in SOL's price, which has dropped 15% since failing to reclaim the $168 level on June 12. Derivatives data shows a lack of sustained optimism, with perpetual futures showing no sustained optimism for SOL over the past 30 days.

所有这些不确定性都反映在索尔的价格上，自6月12日未能收回168美元以来，它已经下降了15％。衍生品数据表明缺乏持续的乐观情绪，永恒的期货在过去30天内对SOL没有持续的乐观情绪。

Hope on the Horizon?

希望上场？

It's not all doom and gloom. The potential approval of a Solana spot ETF by the SEC in October could be a game-changer. In the meantime, Solana's technical strengths, like its robust base layer and lack of an offchain matching engine, offer some support. Plus, Solana's low fees and high scalability could pave the way for a price recovery to the $180 mark, even before the ETF decision.

这并不是厄运和忧郁。 SEC在10月份获得SOLANA斑点ETF的潜在认可可能会改变游戏规则。同时，Solana的技术优势，例如其强大的基础层和缺乏截缘匹配的引擎，提供了一些支持。另外，甚至在ETF决定之前，Solana的低费用和高可伸缩性都可以为价格恢复到180美元的道路铺平道路。

Final Thoughts: Solana's Balancing Act

最终想法：Solana的平衡行为

Solana's in a bit of a tightrope walk right now. It's gotta balance the hype of memecoins with building a solid ecosystem. Hyperliquid's a wildcard, but Solana's got the tech to bounce back. Will it reclaim its throne? Only time will tell. But one thing's for sure: the Solana story is far from over, and it is going to be a fun ride!

索拉纳（Solana）现在正处于绳索步行路程中。必须通过建立坚实的生态系统来平衡模因的炒作。超级流动性是通配符，但索拉纳（Solana）使技术反弹。它会收回其宝座吗？只有时间会证明。但是可以肯定的是：《索拉纳故事》还远远没有结束，这将是一个有趣的旅程！