加密市場正在經歷一個新的動盪階段。 Solana（Sol）下降了40％

這種下降不僅是市場糾正：它突出了結構弱點和對某些投機趨勢的高度依賴。

The crypto market is currently undergoing a new phase of turbulence. Among the most affected tokens is Solana (SOL), which has seen a 41% drop in just a few weeks.

加密貨幣市場目前正處於動蕩的新階段。索拉納（Sol）（SOL）中，受影響最大的令牌中有41％的人在短短幾週內下降了41％。

This decline is not merely a market correction; it highlights structural weaknesses and a high dependence on certain speculative trends that are no longer sustainable.

這種下降不僅是市場糾正；它突出了結構性弱點，並且對某些不再可持續的投機趨勢具有很大的依賴。

Network under pressure, impacted by the volatility of cryptos

在壓力下的網絡，受到加密的波動的影響

At the beginning of February 2025, Solana users reported a degradation of performance on the network.

在2025年2月初，Solana用戶報告了網絡上性能的退化。

Transactions, usually nearly instantaneous, began to experience unusual delays. Some holders of the SOL crypto even encountered repeated failures during their exchanges on decentralized platforms (DEX).

通常幾乎瞬時的交易開始遇到異常的延誤。 SOL加密貨幣的一些持有人甚至在分散平台（DEX）的交流中遇到了反复的失敗。

This slowdown is largely explained by the intense activity related to memecoins, those highly speculative tokens inspired by viral trends.

這種放緩在很大程度上是由與模因有關的激烈活動來解釋的，這些活動受到病毒趨勢的啟發。

Solana, despite its ambitious positioning, remains one of the favorite playgrounds for these cryptos. Projects like LIBRA, once backed by public figures, attracted colossal sums before collapsing by 95%, leading to a chain of massive liquidations.

索拉納（Solana）儘管雄心勃勃，但仍然是這些加密貨幣最喜歡的遊樂場之一。像天秤座這樣的項目曾經得到公眾人物的支持，吸引了巨大的款項，然後崩潰了95％，從而導致了一系列大規模的清算。

In the span of 24 hours, 227 million dollars in positions were liquidated, amplifying the pressure on the SOL crypto.

在24小時的時間內，清算了2.27億美元的位置，擴大了SOL加密貨幣的壓力。

The issue is not limited to speculation; the architecture of Solana, although performant under normal circumstances, shows its limits in the face of excessive demand.

這個問題不僅限於投機； Solana的建築儘管在正常情況下表現出色，但面對過度需求的局限性。

An excessive centralization of validators and recurrent congestion raise questions about the network's ability to absorb large-scale adoption.

過度集中驗證者和經常性擁堵引發了有關該網絡吸收大規模採用能力的問題。

Bitcoin as a refuge

比特幣作為避難所

While the Sol crypto wavers, Bitcoin is maintaining its place as a safe haven. Its dominance reaches 61%, an unprecedented level since 2021, signaling that investors are turning to assets perceived as more resilient.

當Sol Crypto搖動時，比特幣仍保持其作為避風港的位置。自2021年以來，它的主導地位達到了61％，這是一個空前的水平，這表明投資者正在將其視為更具彈性的資產。

Even Bitcoin ETFs, despite experiencing net exits of 516 million dollars, are weathering the storm better than the sharply declining altcoins.

即使比特幣ETF遇到了5.16億美元的淨出口，也比急劇下降的山寨幣更好地風化了風暴。

This context underscores an increasingly marked fracture within the crypto market. On one side are established projects like Bitcoin and Ethereum, which are gradually becoming embedded in concrete uses.

這種情況下強調了加密貨幣市場中越來越明顯的斷裂。一方面是諸如比特幣和以太坊之類的已建立項目，它們逐漸嵌入了混凝土用途中。

On the other side are blockchains like Solana, which, despite their technological advancements, still largely depend on speculative dynamics.

另一方面是諸如Solana之類的區塊鏈，儘管它們的技術進步，但仍主要取決於投機性動態。

Furthermore, regulatory oversight remains a factor to watch. The SEC recently concluded its investigations into Uniswap and Coinbase, a strategy that could signal a desire to foster a more stable framework rather than stifle innovation.

此外，監管監督仍然是值得關注的因素。 SEC最近對UNISWAP和COINBASE進行了調查，該策略可能表明渴望培養更穩定的框架而不是扼殺創新。

However, Solana, due to its association with certain major incidents (including a recent hack of 1.5 billion dollars on Bybit), could remain under the regulators' spotlight.

但是，由於索拉納（Solana）與某些重大事件的關聯（包括最近的15億美元的bybit攻擊），可能仍在監管機構的聚光燈下。

While the current drop of Solana is concerning, it does not signify the end of the project. To regain market confidence, the network will need to strengthen its robustness, further decentralize its validators, and attract developers beyond just memecoins. The ecosystem must prove its capacity to support more varied and sustainable activities, particularly in decentralized finance (DeFi).

雖然當前的Solana引起了關注，但它並不表示項目的終結。為了重新獲得市場信心，該網絡將需要增強其穩健性，進一步分散其驗證者，並吸引開發人員僅僅是Memecoins。生態系統必須證明其支持更多多樣化和可持續活動的能力，尤其是在分散的金融（DEFI）中。