自1月高點以來，Solana Dex量下降了60％，擊中[SOL]最難

跨連鎖店的交易量比一月份的高點下降了60％，在Coinbase（CB）分析師中擊中了Solana [Sol]。

Decentralized exchange (DEX) trading volumes across top chains have declined 60% from January highs, and the impact was felt most acutely on Solana (SOL), according to Coinbase (CB) analysts.

根據Coinbase（CB）分析師的說法，跨1月高點的分散交易（DEX）交易量比一月份的高點下降了60％，並且對Solana（SOL）的影響最為敏銳。

January saw a peak in trading volumes for DEXs at $457.5 billion. By February, DEX volumes had dipped below $300B, and by mid-March, the monthly volume was at $100B, as per aggregated data from DeFiLlama by The Block.

一月的DEX交易量達到高峰，為4575億美元。到2月份，DEX卷下降到300B美元以下，到3月中旬，根據該街區的Defillama總計數據，每月的數量為100B美元。

Solana hit hardest

Solana擊中了最難的

Solana’s top platforms, like Raydium, Meteora and Orca, drove most of the January DEX volumes, especially following the launch of TRUMP and MELANIA meme-coins.

索拉納（Solana）的頂級平台，例如Raydium，Meteora和Orca，都推動了一月份的大部分DEX卷，尤其是在Trump和Melania Meme-Coins推出之後。

However, Solana memecoins cooled off significantly in January, noted Coinbase (CB) analysts in their weekly market review.

但是，Coinbase（CB）分析師在每週的市場審查中指出，Solana Memecoins在一月份大大冷卻了。

“Memecoin trading activity has been particularly hard hit, reflected in Solana’s 82% drop in DEX volumes since the US presidential inauguration in January.”

“ Memecoin貿易活動受到了尤為嚴重的打擊，這反映在索拉納（Solana）自1月份美國總統就職典禮以來的DEX量下降了82％。”

In fact, Pump.fun’s traded volume, the key driver of the meme mania in Solana, dipped to October 2024 lows. As a result, the massive decline in activity dented Solana transaction fees, added CB analysts.

實際上，Pump.Fun的交易量是Solana的Meme Mania的主要驅動力，降至2024年10月的低點。結果，CB分析師補充說，活性造成的索拉納交易費用的大量下降。

“This has second-order effects on Solana transaction fees, which reached their lowest levels since September 2024 (denominated in SOL).”

“這對Solana交易費用具有二階影響，該費用達到了自2024年9月以來的最低水平（以SOL為名）。”

In terms of SOL, the chain fees dipped from 141K SOL in January to 7K SOL as of press time — a whopping 95% decline in fees.

就SOL而言，鏈條費用從1月份的141K SOL下降到了截至發稿時的7K SOL，費用下降了95％。

SOL’s value also tanked as speculative interest waned from mid-January. It dropped from $295 to a low of $112 before bouncing to $134 at press time. Even so, the altcoin was still down 55% from its all-time highs.

Sol的價值也隨著1月中旬的投機興趣而下降。它從295美元降至112美元的低點，然後在發稿時彈跳到134美元。即便如此，Altcoin仍然比其歷史最高點下降了55％。

On the contrary, Ethereum’s DEX volumes remained resilient per the CB report.

相反，根據CB報告，以太坊的DEX量保持彈性。

That said, the decline was also part of a broader market contraction, accelerated by macro uncertainty amid Trump tariff wars.

也就是說，下降也是特朗普關稅戰爭的宏觀不確定性加速市場收縮的一部分。

According to CB analysts, the risk-off trend could persist unless next week’s FOMC meeting stops quantitative tightening (QT) and stabilizes markets.

根據CB分析師的說法，除非下週的FOMC會議停止定量收緊（QT）並穩定市場，否則風險趨勢可能會持續下去。

“We think there’s a good chance of a pause or stop in QT as bank reserve levels are approaching the 10-11% of GDP threshold commonly considered sufficient for maintaining financial stability.”

“我們認為，由於銀行儲備水平接近通常被認為足以維持財務穩定性的GDP閾值的10-11％，因此很有可能停頓或停止。”