2024 年 10 月，比特幣主導地位飆升，以太坊面臨挑戰

2024 年 10 月，比特幣的市場主導地位顯著增強，而以太坊則面臨波動和策略爭論。

Bitcoin's market dominance surged in October 2024, while Ethereum faced volatility and strategic challenges, according to a recent analysis by VanEck. The performance of Layer 1 platforms and memecoin trading dynamics also highlighted the month's crypto market activities.

根據 VanEck 最近的分析，比特幣的市場主導地位在 2024 年 10 月飆升，而以太坊則面臨波動和戰略挑戰。 Layer 1 平台的表現和 memecoin 交易動態也凸顯了本月的加密貨幣市場活動。

Bitcoin Surges, Broad Market Struggles

比特幣飆升，市場普遍陷入困境

Bitcoin (BTC) outperformed major crypto tokens and traditional asset classes, surging by 11% in October, contrasting with declines in the S&P 500 and Nasdaq, both down by 1%. Bitcoin's dominance in the market reached new cycle highs, driven by significant investments in Bitcoin ETPs, totaling $3.3 billion.

比特幣 (BTC) 的表現優於主要加密代幣和傳統資產類別，10 月飆升 11%，而標準普爾 500 指數和那斯達克指數均下跌 1%。在比特幣 ETP 的大量投資（總計 33 億美元）的推動下，比特幣在市場上的主導地位達到了新的週期高點。

In the broader market, over 60% of observed assets declined, and small-cap cryptos underperformed, falling by 9%. However, some high-throughput Layer 1 platforms like Aptos (APT), Solana (SOL), and Sui (SUI) reported gains of 18%, 10%, and 15%, respectively.

在更廣泛的市場中，超過 60% 的觀察資產下跌，小型加密貨幣表現不佳，下跌 9%。然而，一些高吞吐量的第 1 層平台，如 Aptos (APT)、Solana (SOL) 和 Sui (SUI) 分別報告了 18%、10% 和 15% 的收益。

Ethereum's Strategic Challenges

以太坊的策略挑戰

Ethereum (ETH) faced both internal and external pressures. Its ETH/BTC pair reached new lows, dropping by 9.5% in October. Despite a 3% rise in Ethereum's price, it lagged behind Bitcoin.

以太坊（ETH）面臨內部和外部壓力。其 ETH/BTC 貨幣對創下新低，10 月下跌 9.5%。儘管以太坊的價格上漲了 3%，但仍落後於比特幣。

The Ethereum community is divided on future strategies, with some advocating for increased Layer 1 transactions to enhance value, while others, including Vitalik Buterin, emphasize scaling through Layer 2 solutions to attract broader user adoption.

以太坊社群對未來策略存在分歧，有些人主張增加第 1 層交易以提高價值，而包括 Vitalik Buterin 在內的其他人則強調透過第 2 層解決方案進行擴展以吸引更廣泛的用戶採用。

Ethereum's decentralized exchange (DEX) volume share hit an all-time low, partly due to a strategic shift towards lower-cost Layer 2 solutions. This transition has reduced Ethereum's overall revenues, highlighting a need for increased demand to sustain ETH's value.

以太坊的去中心化交易所 (DEX) 交易量份額創下歷史新低，部分原因是轉向低成本第 2 層解決方案的策略。這項轉變減少了以太坊的整體收入，凸顯出需要增加需求來維持以太坊的價值。

Solana's Rising Activity and Revenue Sources

Solana 不斷增長的活動和收入來源

Solana (SOL) saw a dramatic increase in usage, with a 132% rise in DEX trading in October, leading to record monthly revenues of $150.5 million from transactions and MEV. The surge was partly fueled by memecoin trading, which has drawn criticism for potentially inflating activity metrics through wash trading. Despite these concerns, Solana's high throughput and low transaction costs continue to attract significant user activity.

Solana (SOL) 的使用量急劇增加，10 月份 DEX 交易量增長了 132%，交易和 MEV 月收入創下歷史新高 1.505 億美元。這種飆昇在一定程度上是由模因幣交易推動的，該交易因洗售交易可能誇大活動指標而受到批評。儘管有這些擔憂，Solana 的高吞吐量和低交易成本繼續吸引了大量的用戶活動。

Layer 2 Developments and Decentralization Efforts

Layer 2 發展與去中心化工作

Ethereum's Layer 2 solutions are advancing towards decentralization. Notably, Coinbase's L2 blockchain Base introduced fault proofs, marking progress toward Stage 1 decentralization. This step is crucial as Ethereum L2s like Arbitrum and OP Mainnet lead in Total Value Locked (TVL), aiming to secure the majority of L2 TVL with enhanced decentralization measures.

以太坊的 Layer 2 解決方案正在朝去中心化方向發展。值得注意的是，Coinbase 的 L2 區塊鏈 Base 引入了故障證明，標誌著第一階段去中心化的進展。這一步驟至關重要，因為 Arbitrum 和 OP 主網等以太坊 L2 在總價值鎖定 (TVL) 方面處於領先地位，旨在透過增強的去中心化措施來確保大部分 L2 TVL。

Vitalik Buterin has emphasized the importance of decentralization, stating that starting in 2025, he will only recognize L2 solutions that achieve "Stage 1+" decentralization. This involves smart contract governance and fraud-proof systems, reducing risks of centralization.

Vitalik Buterin 強調了去中心化的重要性，表示從 2025 年開始，他只會認可實現「Stage 1+」去中心化的 L2 解決方案。這涉及智慧合約治理和防詐騙系統，從而降低中心化風險。