總統模因將Solana泵送到超速駕駛

在2025年初，借助Meme Coins，第1層（L1）區塊鍊網絡Solana在聚光燈下發現了自己。

At the beginning of 2025, Layer-1 (L1) blockchain network Solana was largely found in the spotlight thanks to meme coins.

在2025年初，由於Meme Coins，在聚光燈下發現了第1層（L1）區塊鍊網絡Solana。

Donald Trump’s Official Trump (TRUMP) meme coin launch on January 17 ignited a flurry of activity across the network, driving demand to levels unseen since the 2021 bull cycle.

唐納德·特朗普（Donald Trump）的官方特朗普（特朗普）模因硬幣於1月17日推出了整個網絡中的一系列活動，這使自2021年公牛週期以來一直看不見的水平推動了需求。

While these volatile assets boosted Solana’s network activity and pushed up SOL’s price, they also present a paradox. They have brought in liquidity, users, and attention—but at what cost?

儘管這些揮發性資產提高了Solana的網絡活動並提高了Sol的價格，但它們也帶來了悖論。他們引起了流動性，用戶和關注，但是以多少代價？

Presidential Memes Pump Solana Into Overdrive

總統模因將Solana泵送到超速駕駛

Solana’s cheap, lightning-fast transactions and highly composable DeFi infrastructure make it one of the most preferred blockchains for launching meme coins. So when newly elected Donald Trump launched his TRUMP meme coin on the network in January, it came as no surprise to many.

Solana廉價，閃電交易和高度可組合的Defi基礎設施使其成為推出模因硬幣最喜歡的區塊鏈之一。因此，當新當選的唐納德·特朗普（Donald Trump）在一月份在網絡上推出了特朗普模因硬幣時，這對許多人來說就不足為奇了。

Following TRUMP’s launch on January 17, demand for Solana skyrocketed, driven on the one hand by developers eager to launch their own meme coins and on the other by the frenzy of trading activity surrounding them.

特朗普於1月17日推出後，對索拉納的需求猛增，一方面是開發商渴望發射自己的模因硬幣，另一方面是由於周圍的貿易活動而狂熱。

Melania Trump followed her husband’s lead by launching her MELANIA meme coin on the same chain two days later. This move exacerbated the meme hype and drove significant trade volumes across multiple meme coins, both existing and newly created.

梅拉尼亞·特朗普（Melania Trump）在兩天后在同一條連鎖店推出了她的梅拉尼亞模因硬幣，跟隨了丈夫的領導。這一舉動加劇了模因炒作，並跨越了現有和新創建的多個模因硬幣的大量貿易量。

For example, within a day of launch, MELANIA’s trading volume soared 396%, jumping from $1.33 billion to $6.6 billion, according to CoinGecko data.

例如，根據Coingecko Data的數據，梅拉尼亞的交易量飆升了396％，從13.3億美元升至66億美元。

Solana Memes Took It to the Moon, Then Back Down

Solana Memes將其帶到月球，然後回到月球

This development drove significant user engagement on Solana. According to Glassnode, by January 24, the network was processing 832,000 active addresses per hour, over 26 times more than Ethereum, which recorded just 31,000 per hour.

這一開發引發了對Solana的大量用戶參與。根據GlassNode的說法，到1月24日，該網絡每小時處理832,000個活動地址，比以太坊高26倍，以太坊每小時僅記錄31,000。

Due to the huge influx of new users on the network, transaction fees rocketed. Per Glassnode, Solana’s total transaction fees climbed to an all-time high of $32.43 million on January 19 after MELANIA launched. On the same day, SOL climbed to an all-time high of $293.

由於網絡上的新用戶大量湧入，交易費用迅速增加。在梅拉尼亞（Melania）推出後，索拉納（Solana）的總交易費用為1月19日，索拉納（Solana）的總交易費用為3243萬美元。同一天，索爾（Sol）攀升至歷史高達293美元。

However, market exhaustion set in shortly after this price peak was reached. The meme coin mania began to fade, taking Solana users with it. Daily active addresses and new demand for the L1 plunged, dragging down DEX volume, SOL’s price, and DeFi TVL.

但是，達到這個價格峰後不久，市場耗盡。模因硬幣狂熱開始消失，使Solana用戶使用它。每日活躍的地址和對L1的新需求下降，拖延了DEX量，Sol的價格和Defi TVL。

For example, SOL’s DEX volume hit an all-time high of $36 billion on January 19. But as the meme coin hype cooled off, by January 31, it had plummeted to just $3.8 billion, dropping nearly 90%. As of April 15, this totaled $1.5 billion.

例如，Sol的DEX量在1月19日達到了360億美元的歷史最高點。但是，隨著Meme Coin Hype的降溫，到1月31日，它已跌至僅38億美元，下降了近90％。截至4月15日，總計15億美元。

Solana’s network revenue was not spared. Daily revenue, which rose to an all-time high of $16 million on January 19, plummeted to under $5 million by the end of January. Yesterday, the network’s total revenue from all transactions completed was under $115,000.

Solana的網絡收入並未倖免。每日收入在1月19日上升至1600萬美元，到1月底下降到500萬美元。昨天，該網絡完成的所有交易總收入不到115,000美元。

Solana Has Bigger Plans, Analyst Says

分析師說，索拉納有更大的計劃

While TRUMP, MELANIA, and the slew of other meme coins that launched on Solana in the first few weeks of the year drove unprecedented network activity and boosted SOL’s value, the drop in their values and overall trading volumes has impacted the network’s performance.

儘管特朗普，梅拉尼亞（Melania）和其他模因硬幣在一年中的頭幾週在索拉納（Solana）推出，但推動了前所未有的網絡活動並提高了索爾（Sol）的價值，但其價值和整體交易量的下降影響了網絡的性能。

It then raises the question of whether Solana’s actual value is now tied to this highly volatile, borderline chaotic asset class.

然後，它提出了一個問題，即Solana的實際價值現在是否與這種高度揮發的，邊緣性混亂的資產類別相關。

In an exclusive interview with BeInCrypto, Binance Research spokesperson Marina Zibareva noted that while these meme assets contributed to the network’s growth at the beginning of the year, Solana’s performance remains “increasingly driven by broader ecosystem fundamentals.”

Binance Research發言人Marina Zibareva在對Beincrypto的獨家採訪中指出，儘管這些模因資產在今年年初有助於該網絡的增長，但Solana的績效“越來越受到更廣泛的生態系統基礎知識的驅動。”

According to Zibareva:

根據Zibareva：

“We’ve seen DeFi TVL grow nearly 4x in SOL terms since January, and stablecoin supply has increased over 6x – pointing toward lasting interest in real utility. Developer activity is also accelerating, with smart contract deployments rising almost 6x, suggesting strong long-term potential beyond the speculative wave.”

“自1月以來，我們已經看到DeFi TVL的索能增長了近4倍，而Stablecoin供應量增加了6倍，指向對真正效用的持久興趣。開發人員的活動也在加速，智能合同部署近6倍，表明超出了投機性浪潮的強大長期潛力。”

Although Solana’s inherent features make it a go-to destination for launching meme coins via platforms like Pump.fun, Jupiter, and Meteora, Zibareva sees a future for the network that stretches beyond meme coins.

儘管Solana的固有功能使其成為通過Pump.Fun，Jupiter和Meteora等平台啟動模因硬幣的首選目的地，但Zibareva看到了該網絡的未來，超越了Meme Coins。

“Meme coins have brought attention and users, but the long-term trajectory likely points toward use cases like DeFi, DePIN, Gaming, and SocialFi. Solana’s daily active addresses have increased nearly 6x year-to-date, and with its infrastructure battle-tested, we expect to see more developer activity focused on sustainable value creation,” she added.

“模因硬幣引起了人們的關注和用戶，但是長期的軌跡可能指向Defi，Depin，Gaming和Socialfi等用例。Solana的日常活動地址已經增加了近6倍，年初至今，其基礎設施進行了戰鬥測試，我們希望更多地以開發人員的活動為重點，以創造可持續價值創造，”她補充說。