Solana的熱資本下降比比特幣和以太坊的下降較小

鏈上分析公司的玻璃節揭示了Solana在此指標中如何比比特幣和以太坊表現出更大的彈性。

On-chain analytics firm Glassnode has highlighted Solana’s recent resilience compared to Bitcoin and Ethereum in a key indicator.

在關鍵指標中，與比特幣和以太坊相比，鍊鍊分析公司玻璃節點與比特幣和以太坊相比，強調了Solana的韌性。

Solana Witnesses Smaller Hot Capital Decline than Bitcoin & Ethereum

Solana的目擊者比特幣和以太坊的熱量下降較小

In a recent post on Substack, Glassnode analyzed the performance of leading cryptocurrencies in terms of Hot Capital during the recent market downturn.

在最近的替代文章中，GlassNode分析了最近在市場下滑期間，在熱門資本方面，領先的加密貨幣的表現。

The “Hot Capital” metric tracks the recent capital flows for an asset. It combines the Realized Cap of two coin age ranges, 24 hours and 1 day to 1 week, to calculate its value.

“熱門”指標跟踪了最近的資本資本流動。它結合了兩個硬幣年齡範圍，24小時1天至1週的實現帽，以計算其價值。

The Realized Cap is an on-chain capitalization model that assumes the ‘true’ value of any token in circulation is equal to the spot price at which it was last transacted on the blockchain.

已實現的上限是一個鏈上資本化模型，它假設流通中任何令牌的“真實”值等於最後一次在區塊鏈上進行交易的現貨價格。

This indicator essentially represents the total amount of capital that the investors on the network as a whole have used to purchase their coins (as opposed to the usual market cap, which signifies the value the holders are carrying in the present).

該指標實質上代表了整個網絡上用於購買硬幣的投資者的總資本數量（與通常的市場上限相反，這表示持有人在當前所承受的價值）。

Hence, the Realized Cap of the youngest age bands (24 hours and 1 day to 1 week) provides insight into the amount of capital that recently flowed into the cryptocurrency.

因此，最年輕的年齡段（24小時1天到1週）實現的帽子可洞悉最近流入加密貨幣的資本數量。

The following chart displays the trend in Hot Capital for Ethereum over the past year:

以下圖表顯示了過去一年中以太坊熱資本的趨勢：

According to the chart above, Ethereum’s Hot Capital (black curve) spiked to a high level in December, indicating a substantial amount of fresh capital was flowing into the asset. However, the metric has since plunged significantly.

根據上圖，以太坊的熱資本（黑色曲線）在12月飆升至高水平，表明大量新的資本正在資產流入。但是，該指標自那以後大大降低了。

Compared to the December peak, the demand for new ETH has dropped by over 52%. Bitcoin also witnessed a similar pattern, with the number one cryptocurrency even seeing a larger drop of 77%. “Momentum has cooled sharply since December peaks,” Glassnode notes.

與12月的高峰相比，對新ETH的需求下降了52％以上。比特幣也見證了類似的模式，第一次加密貨幣甚至看到較大的77％。玻璃節指出：“自12月高峰以來，動量一直急劇冷卻。”

Interestingly, while the top two coins have experienced this significant cooldown, Solana has shown a different trend, as evident in the chart below:

有趣的是，儘管前兩枚硬幣經歷了這種重大的冷卻，但Solana表現出不同的趨勢，如下圖所示：

In December, Solana’s aggregated Realized Cap of the 24-hour and 1-day to 1-week age bands stood at $15.8 billion. Demand has cooled for the coin as well since then, but with the metric today sitting at around $11.8 billion, the difference is of just 25%. Clearly, SOL has shown more resilience than BTC and ETH during this period.

去年12月，索拉納（Solana）匯總的24小時和1天至1週的樂隊的上限為158億美元。從那時起，硬幣的需求也已經冷卻了，但是今天的度量標準約為118億美元，差額僅為25％。顯然，在此期間，SOL比BTC和ETH表現出更多的彈性。

It now remains to be seen whether this will ultimately be reflected in Solana’s price.

現在，這是否最終會反映在索拉納的價格上還有待觀察。

SOL Price

索爾價格

At the time of writing, Solana is trading around $172, down more than 12% over the last week.

在撰寫本文時，索拉納（Solana）的交易約為172美元，比上週下降了12％以上。