Solana DeFi 生態系統的歷史性挫折

Solana 的總鎖定價值（TVL）是其 DeFi 生態系統績效的關鍵指標，在 2024 年 12 月出現了大幅下降。

Solana, known for its speed and low transaction costs, has encountered a setback in December with a decline in DeFi activity.

以速度快和交易成本低而聞名的 Solana 在 12 月遭遇了挫折，DeFi 活動下降。

The Total Value Locked (TVL) in Solana DeFi dropped by $1.1 billion in 21 days, reaching $8.01 billion. This marks a 12% decrease, indicating a slowdown in blockchain activity, further evidenced by a 7% reduction in daily active addresses.

Solana DeFi 的鎖定總價值（TVL）在 21 天內減少了 11 億美元，達到 80.1 億美元。這標誌著 12% 的下降，表明區塊鏈活動放緩，每日活躍地址減少 7% 進一步證明了這一點。

The decline in activity is a concern for Solana, especially in a competitive market where growth is crucial for attracting users and developers. This setback could lead to a loss of momentum and a shift in focus towards other emerging platforms.

活動下降是 Solana 擔心的問題，尤其是在競爭激烈的市場中，成長對於吸引用戶和開發者至關重要。這一挫折可能會導致動力喪失，並將重點轉向其他新興平台。

The impact of the decline is also evident in the flagship protocols of the Solana DeFi ecosystem. Jito, a major DeFi platform on Solana, experienced a 28% drop in its own TVL, which now stands at $2.66 billion.

下降的影響在 Solana DeFi 生態系統的旗艦協議中也很明顯。 Solana 上的主要 DeFi 平台 Jito 的 TVL 下降了 28%，目前為 26.6 億美元。

This waning interest in the DeFi products of the blockchain seems to fit into a broader dynamic of trust erosion, which is being amplified by the poor short-term outlook. The available data points towards a growth slowdown that had, until now, contributed to Solana's fame and attractiveness within the blockchain ecosystem.

人們對區塊鏈 DeFi 產品的興趣減弱似乎符合更廣泛的信任侵蝕動態，而糟糕的短期前景又加劇了這種侵蝕。現有數據表明，迄今為止，成長放緩一直提升了 Solana 在區塊鏈生態系統中的聲譽和吸引力。

Solana revenue fell by 24% from early December, while the native SOL token declined by 28% in a month.

Solana 收入較 12 月初下降了 24%，而原生 SOL 代幣在一個月內下降了 28%。

Solana's revenues have decreased by 24% since the beginning of December. This decline reflects a broader slowdown in network activity, which mirrors the difficulties faced by the ecosystem.

自 12 月初以來，Solana 的收入下降了 24%。這種下降反映了網路活動更廣泛的放緩，這反映了生態系統面臨的困難。

At the same time, the performance of the native SOL token has been particularly affected, with a 28% drop in its value within a month. This decline is accompanied by unpromising technical indicators. The Chaikin Money Flow (CMF), which measures the relationship between price and volume, shows a negative value of -0.04. This result sheds further light on increased selling pressure and a marked imbalance between accumulation and distribution, which reinforces the bearish outlook for the token.

同時，原生 SOL 代幣的表現受到的影響尤其嚴重，其價值在一個月內下跌了 28%。這種下跌伴隨著不樂觀的技術指標。衡量價格與交易量之間關係的 Chaikin 資金流 (CMF) 顯示負值 -0.04。這一結果進一步揭示了拋售壓力的增加以及累積和分配之間的明顯不平衡，這強化了代幣的看跌前景。

However, some observers believe that a turnaround in market sentiment could be sufficient to reverse the current trend. If the price of SOL manages to break through strategic resistance at $187 and stabilize above $200, the network could regain attractiveness among investors. Such a development would, however, require sustained efforts to restore user confidence. Solana could, for instance, seek to revitalize its on-chain activity through economic incentives or technological innovations. In this context, Solana's future will depend on its ability to demonstrate resilience in the face of current challenges and to capitalize on its strengths to revitalize its ecosystem.

然而，一些觀察家認為，市場情緒的改善可能足以扭轉當前的趨勢。如果 SOL 的價格能夠突破 187 美元的戰略阻力位並穩定在 200 美元以上，該網絡可能會重新獲得投資者的吸引力。然而，這樣的發展需要持續的努力來恢復使用者的信心。例如，Solana 可以尋求透過經濟誘因或技術創新來重振其鏈上活動。在這種背景下，Solana 的未來將取決於其在面對當前挑戰時展現韌性的能力，以及利用其優勢振興生態系統的能力。

The decline in TVL and revenues of Solana highlights the major challenges the blockchain faces in a continuously evolving sector. This situation, while critical, could provide an opportunity to rethink its strategy and revitalize its DeFi ecosystem. With its technological strengths and the return of user confidence, Solana could regain its growth momentum and strengthen its position among the industry leaders. Success, however, will depend on its ability to turn this crisis period into a lever for new opportunities.

Solana 的 TVL 和收入的下降凸顯了區塊鏈在不斷發展的行業中面臨的主要挑戰。這種情況雖然至關重要，但可能會提供一個重新思考其策略並重振其 DeFi 生態系統的機會。憑藉其技術優勢和用戶信心的恢復，Solana 可以重新獲得成長動力並鞏固其在行業領導者中的地位。然而，成功將取決於其能否將這段危機時期轉化為新機會的槓桿。