“介紹索拉納（Solana Memecoins）的世界：炒作週期和貿易陰道碰撞的地方”

想像一下，走進一個新鮮的水果市場，卻意識到，最好的產品已經被一個秘密的團體挑選，該組織確切地知道供應商何時到達。

Imagine walking into a fresh fruit market, only to realize that the best produce has already been picked clean by a secretive group that knew exactly when the vendors would arrive. That is essentially what happens in the world of Solana memecoins. These cabals, often comprised of crypto influencers, traders, and venture capitalists, have an unfair advantage. They have access to insider information, private allocations of tokens before they go public, and sophisticated trading strategies that allow them to maximize profits while leaving the general public with scraps.

想像一下，走進一個新鮮的水果市場，卻意識到，最好的產品已經被一個秘密的團體挑選，該組織確切地知道供應商何時到達。從本質上講，這就是Solana Memecoins世界中發生的事情。這些集會通常由加密影響者，商人和風險投資家組成，具有不公平的優勢。他們可以訪問內部信息，在公開之前的私人代幣分配以及復雜的交易策略，使他們能夠最大程度地利用利潤，同時讓普通公眾留下廢料。

Pre-sales and private allocations are particularly problematic. Many new tokens are distributed to insiders at a fraction of the cost before they become available on exchanges. By the time everyday traders get a chance to invest, the price has already been artificially inflated, and the sell-off has begun. This creates an environment where the playing field is anything but level.

預售和私人分配特別有問題。許多新的代幣都以成本的一小部分分發給內部人士，然後再進行交流。到日常交易者有機會投資的時候，價格已經被人為地膨脹了，而拋售已經開始。這創造了一個環境，即競爭環境不僅僅是級別。

The Allure and Risks of Solana Memecoins

Solana Memecoins的魅力和風險

Memecoins have become an integral part of the Solana ecosystem, generating headlines and hype with astronomical gains in short periods. Dogwifhat ($WIF), Bonk ($BONK), and a growing number of Solana-based memecoins have seen price surges that turn small investments into fortunes overnight. However, the reality is far grimmer for the majority of participants.

紀念物已成為Solana生態系統不可或缺的一部分，在短時間內產生了具有天文增長的頭條和炒作。 Dogwifhat（$ WIF），Bonk（$ BONK）和越來越多的基於Solana的Memecoins看到了價格飆升，這些價格飆升將一夜之間的少量投資變成了命運。但是，對於大多數參與者而言，現實是嚴峻的。

The rise of memecoins is largely driven by speculation rather than utility. Unlike blue-chip cryptocurrencies like Bitcoin or Ethereum, which have fundamental use cases, memecoins rely on hype cycles fueled by social media and influencer marketing. The problem is that these hype cycles are carefully orchestrated by the trading cabals that dominate the space. They pump a token’s value, attract retail investors, and then dump their holdings before the market corrects.

模因的興起在很大程度上是由猜測而不是效用驅動的。與具有基本用例的藍芯片加密貨幣（如比特幣或以太坊）不同，Memecoins依賴於社交媒體和影響者營銷所推動的炒作週期。問題在於，這些炒作週期是由主導空間的交易集會精心策劃的。他們抽出代幣的價值，吸引零售投資者，然後在市場上拋棄其持股。

Rising Numbers, Declining Utility

數字上升，實用程序下降

On paper, Solana’s performance metrics look stellar. Transaction volumes are at an all-time high, and new projects are being launched daily. However, a closer look reveals an unsettling trend: many of these transactions are driven by bot activity and speculative trading rather than meaningful user adoption.

在紙上，Solana的性能指標看起來很出色。交易量一直處於歷史最高水平，每天都在啟動新項目。但是，近距離的外觀揭示了一個令人不安的趨勢：其中許多交易是由機器人活動和投機交易驅動的，而不是有意義的用戶採用。

DappRadar and other blockchain analytics platforms have noted that despite Solana’s rising numbers, user engagement on decentralized applications (dApps) has not seen a proportional increase. Instead, a large portion of the network’s activity consists of automated trading, wash trading, and manipulation by insiders. This has led to concerns about whether Solana’s growth is sustainable in the long term.

Dappradar和其他區塊鏈分析平台已經指出，儘管Solana的數字增加了，但對分散應用程序（DAPP）的用戶參與並未達到比例增加。取而代之的是，該網絡活動的很大一部分包括內部人員的自動交易，WASH交易和操縱。從長遠來看，這引起了人們對Solana的增長是否可持續的擔憂。

The presence of over 11 million addresses paints a strong picture of Solana’s expanding user base. That figure isn’t just a number—it represents growing trust and interest in the platform’s speed, usability, and vision. Each new user adds more weight to the idea that Solana is ready to play in the big leagues.

超過1100萬個地址的存在描繪了Solana擴展的用戶群的強烈描繪。這個數字不僅是一個數字，它代表了對平台的速度，可用性和願景的越來越多的信任和興趣。每個新用戶都增加了索拉納準備在大聯盟中比賽的想法。

The influence of traditional finance players is starting to become more visible, too. Fidelity Investments recently filed for a Solana-focused fund in Delaware, signaling its intent to enter the game. With Fidelity managing around $4.9 trillion in assets, even a modest allocation into Solana would be a powerful statement—and potentially a price driver.

傳統金融參與者的影響也開始變得更加明顯。 Fidelity Investments最近申請了特拉華州以索拉納（Solana）為中心的基金，這表明其打算進入遊戲。由於富達管理資產約為4.9萬億美元，即使是對Solana的謙虛分配也是一個有力的聲明，而且可能是價格驅動力。

Polymarket also reports cautious optimism. As we reported earlier, the probability of the Solana spot ETF approval stands at 88% this year. In fact, it seems that the regulatory authorities’ optimism has changed in a good way, and traditional financial institutes have more open ideas on cryptocurrencies. If the spot ETF goes live, Solana’s price might reach a considerable height, and maybe it will even come close to the $200 barrier.

Polymarket還報告了謹慎的樂觀情緒。正如我們之前報導的那樣，今年Solana Spot ETF批准的可能性為88％。實際上，監管機構的樂觀情緒似乎已經有很好的變化，傳統金融機構對加密貨幣有更多開放的想法。如果現場ETF上線，Solana的價格可能會達到相當大的高度，甚至可能接近200美元的障礙。

Solana ETF Could Draw $6B in 6 Months —JPMorgan

Solana ETF可以在6個月內抽6B美元 - jpmorgan

JPMorgan analysts added further insight with a recent projection. Their report suggested that if Solana does secure a spot ETF, it could attract $3 to $6 billion in net assets within just six months.

摩根大通分析師通過最近的投影增加了進一步的見解。他們的報告表明，如果Solana確實確保了ETF，則可以在短短六個月內吸引3至60億美元的淨資產。

The Role of Social Media and Influencers

社交媒體和影響者的作用

Adding to the complexity of the Solana dilemma is the influence of social media platforms like X (formerly Twitter) and Telegram. Crypto influencers and so-called “alpha groups” play a crucial role in driving market trends, often promoting memecoins and other assets they are secretly invested in. By the time their followers enter the market, the cabals have already taken their profits and moved on to the next hype cycle.

X（以前為Twitter）和Telegram等社交媒體平台的影響是Solana困境的複雜性。加密影響者和所謂的“ Alpha群體”在推動市場趨勢方面起著至關重要的作用，通常會促進他們被暗中投資的成人和其他資產。到他們的追隨者進入市場時，陰道已經拿走了他們的利潤並將其轉移到下一個炒作週期。

The power of influencers cannot be overstated. A single tweet from a prominent crypto figure can send a token’s price skyrocketing or crashing. In many cases, these influencers are part of the very cabals that orchestrate these pumps and dumps, leaving retail investors as the ultimate bag holders.

影響者的力量不能被誇大。來自突出的加密貨幣人物的一條推文可以發送令牌的價格飛漲或崩潰。在許多情況下，這些影響者是精心策劃這些泵和垃圾場的Capals的一部分，使散戶投資者成為終極袋裝持有者。

Solana's ecosystem is at a crossroads. On one hand, it boasts rapid growth, technological advancements, and an active developer community. On the other, it faces serious challenges related to market manipulation, insider trading, and a lack of meaningful user engagement.

Solana的生態系統處於十字路口。一方面，它具有快速增長，技術進步和積極的開發人員社區。另一方面，它面臨著與市場操縱，內幕交易以及缺乏有意義的用戶參與有關的嚴重挑戰。

For Solana to fulfill its potential as a truly revolutionary blockchain, it must address these issues head-on. Otherwise, it risks becoming a playground for whales and insiders, leaving everyday traders disillusioned and wary of participating.

為了使Solana發揮其作為真正革命性區塊鏈的潛力，它必須正面解決這些問題。否則，它有可能成為鯨魚和內部人士的遊樂場，使日常交易者幻滅和警惕參加。