索拉納成本基礎分佈揭示了供應最集中的位置

在X上的新帖子中，GlassNode討論了Solana的UTXO實現價格分佈（URPD）。 URPD是一個指標，基本上可以告訴我們購買了多少溶膠供應的價格水平。

Analytics firm Glassnode has revealed the Solana (SOL) price levels that could be important to watch, based on on-chain accumulation data. In a new post on X, the firm is discussing the UTXO Realized Price Distribution (URPD) of the world's ninth-largest cryptocurrency.

分析公司GlassNode揭示了基於鏈積累數據，索拉納（SOL）價格水平可能很重要。在X上的新帖子中，該公司正在討論UTXO實現的世界第九大加密貨幣的價格分配（URPD）。

The URPD is an indicator that tells us how much of the SOL supply was purchased at which price levels. Naturally, the metric uses the last transaction price of any token in circulation as its cost basis.

URPD是一個指標，它告訴我們在價格水平上購買了多少溶膠供應。自然，該指標將流通中任何令牌的最後交易價格用作其成本基礎。

First, here is how the URPD looked when Solana set its new all-time high (ATH) back in January:

首先，這是索拉納（Solana）在一月份設置新的歷史最高高（ATH）時的URPD的樣子：

Image Credit: Glassnode

圖片來源：玻璃節

At the price levels closer to the new ATH, supply was quite thin, meaning not many coins changed hands there. In on-chain analysis, the potential of any level to act as support or resistance is measured in terms of the amount of supply that it hosts.

在接近新ATH的價格水平下，供應非常薄，這意味著沒有多少硬幣易手。在鏈分析中，根據其託管的供應量來衡量任何級別作為支持或阻力的潛力。

This means that levels that have a large cluster around them on the URPD are the ones of importance to the asset.

這意味著在URPD上圍繞它們的群集的水平對資產非常重要。

As for why this is so, the answer lies in investor psychology: holders are sensitive to retests of their cost basis. Whenever the price touches a large cost basis cluster, the investors who are holding these coins may respond by making some panic moves.

至於原因，答案在於投資者心理學：持有人對重新測試成本基礎敏感。每當價格碰到大型成本基礎集群時，持有這些硬幣的投資者都可以通過做出一些恐慌行動做出回應。

These moves can tend toward buying if the retest is happening from above, as investors may want to defend their profit-loss boundary.

如果投資者可能希望捍衛其利潤損失的邊界，則這些舉動可能會傾向於購買。

In retests happening from below, however, the traders could react by selling instead, as they may seek to exit at their break-even.

但是，在從下面發生的重新測試中，交易者可以通過出售而做出反應，因為他們可能會試圖退出他們的收支平衡。

When Solana reached its ATH, there was a lack of support nearby. This may be why the asset ended up falling into the cluster that did carry a significant amount of supply.

當Solana到達ATH時，附近缺乏支持。這可能就是為什麼資產最終掉入確實攜帶大量供應的集群的原因。

Here is how the URPD has changed following the price drawdown:

這是價格下跌後的URPD發生變化的方式：

Image Credit: Glassnode

圖片來源：玻璃節

If Solana continues its downtrend, it may have to end up relying on the freshly grown $112 level. In January, this level hosted the cost basis of 4 million tokens, but today, the figure has grown to 9.7 million, equal to 1.67% of the entire supply.

如果索拉納（Solana）繼續下降趨勢，則可能必須依靠新鮮的$ 112水平。一月份，該級別的成本基礎為400萬個令牌，但如今，該數字已增長到970萬，等於整個供應量的1.67％。

Beyond this level, Glassnode notes, “$94, $97, and $100 collectively hold nearly 21M SOL (3.5% of supply). In the scenario that these support levels fail, Solana may find itself in deep trouble, as there aren't any major supply clusters until $53.”

GlassNode指出，“超過此級別，“ 94美元，97美元和100美元，共同持有近2100萬SOL（供應量的3.5％）。在這些支持水平失敗的情況下，Solana可能會陷入困境，因為直到53美元，才有任何重大供應群。”

In terms of the levels above, the $135 and $144 levels stand out, as they hold the acquisition level of 26.6 million and 27 million coins, respectively. These levels could act as major obstacles in Solana's recovery.

就上述水平而言，$ 135和144美元的水平脫穎而出，因為它們的收購水平分別為2660萬和2700萬硬幣。這些水平可能是Solana恢復的主要障礙。