Solana 擴大其作為收費鏈的影響力，月度超越比特幣

該鏈仍然落後於以太坊，但顯示了 meme 代幣發行和交易的顯著效果。

Solana (SOL) expanded its influence as a fee-generating chain, surpassing Bitcoin (BTC) on a monthly basis. The L1 still lags behind Ethereum (ETH) but shows the marked effect of meme token launches and trading.

Solana (SOL) 擴大了其作為收費鏈的影響力，每月超過了比特幣 (BTC)。 L1 仍然落後於以太坊（ETH），但顯示出 meme 代幣的發行和交易的顯著效果。

Solana was among the most actively growing networks, taking up a bigger share of generated fees. In October, Solana’s share of fee-generating networks increased to a record 38.3%, while other networks largely slowed down.

Solana 是成長最活躍的網路之一，在產生的費用中佔據了更大的份額。 10 月份，Solana 在收費網絡中的份額增至創紀錄的 38.3%，而其他網絡則大幅放緩。

Solana marked a shift in October, as the market’s attention turned to meme tokens and cheap on-chain decentralized finance (DeFi). Raydium, Jupiter DEX, and Pump.fun remained Solana’s top three applications, generating the bulk of the chain’s traffic.

Solana 標誌著 10 月的一個轉變，市場的注意力轉向了 meme 代幣和廉價的鏈上去中心化金融 (DeFi)。 Raydium、Jupiter DEX 和 Pump.fun 仍然是 Solana 排名前三的應用程序，產生了該鏈的大部分流量。

Solana’s performance surpassed that of Bitcoin, due to the latter’s low holding and lower on-chain activity. For most of 2024, Bitcoin still produced more fees than Solana, which retained the fourth spot. The trend shifted in the past month, based on Token Terminal data.

Solana 的表現超過了比特幣，因為後者的持有量較低且鏈上活動較低。在 2024 年的大部分時間裡，比特幣產生的費用仍然高於 Solana，後者仍保持第四位。根據 Token Terminal 的數據，這一趨勢在過去一個月發生了轉變。

In addition to the Solana L1 chain itself, Raydium and Jito are among the biggest fee producers, usually in the top s or top 10 of apps and platforms. Based on DeFi Llama data, Solana is ranked seventh in terms of 24-hour fees, while Raydium ranks at position 4 with $2.56 million in daily fees. Apps and trading hubs were among the biggest fee-generating protocols, as noted in the latest Binance monthly market insights for October.

除了 Solana L1 鏈本身之外，Raydium 和 Jito 也是最大的費用產生者之一，通常位於應用程式和平台的前 5 名或前 10 名中。根據 DeFi Llama 數據，Solana 在 24 小時費用方面排名第七，而 Raydium 以 256 萬美元的每日費用排名第四。正如幣安 10 月份最新月度市場洞察中所述，應用程式和交易中心是最大的收費協議之一。

Solana also carries a growing DeFi sector, due to the inflow of liquidity and users. Value locked remains near the high range for this cycle at $6.65 billion. From November 7 onward, Solana will also carry cbBTC, the wrapped BTC version launched by Coinbase (COIN). The new asset will add to the liquidity locked on Solana through DeFi apps, tapping the value of BTC as it rises to new highs.

由於流動性和用戶的流入，Solana 還承載著不斷增長的 DeFi 領域。鎖定價值仍接近本週期的高位，為 66.5 億美元。從 11 月 7 日起，Solana 也將承載 Coinbase（COIN）推出的打包 BTC 版本 cbBTC。新資產將透過 DeFi 應用程式增加 Solana 鎖定的流動性，在 BTC 升至新高時挖掘其價值。

Ethereum also marked much lower fees compared to its record levels, due to the Dencun upgrade and a shift to L2 transactions. The chain produced 134.02 million fees in October, with minimal payments from L2, as well as negligible blob fees.

由於 Dencun 升級和向 L2 交易的轉變，以太坊的費用也比其創紀錄的水平低得多。該鏈 10 月產生了 1.3402 億筆費用，其中 L2 支付的費用極少，blob 費用也可以忽略不計。

Meme tokens and Raydium trades, however, are settled as L1 transactions, testing Solana’s capacity. This limitation creates a Solana economy of bribes and priority fees, which support validators through maximum extractable value (MEV) payouts.

然而，Meme 代幣和 Raydium 交易作為 L1 交易進行結算，這測試了 Solana 的能力。這項限制創造了 Solana 的賄賂和優先費經濟，透過最大可提取價值 (MEV) 支付來支持驗證者。

Solana as a L1 operates at a loss, as most of the fees generated go toward apps, validators, and MEV providers. Fees are still a proxy metric for Solana’s economy and tokenization trends. In October, Solana paid out $323.73 million in incentives and expenses, leading to a loss of $286.99 million.

Solana 作為 L1 營運處於虧損狀態，因為產生的大部分費用都流向了應用程式、驗證器和 MEV 提供者。費用仍然是 Solana 經濟和代幣化趨勢的代理指標。 10 月份，Solana 支付了 3.2373 億美元的獎勵和費用，導致虧損 2.8699 億美元。

The best-performing cycle for SOL was in 2021, during the first Web3 and non-fungible token (NFT) boom. At that time, SOL was known to be influenced by FTX, leading to peak prices above $249.

SOL 表現最佳的周期是 2021 年，即第一次 Web3 和不可替代代幣 (NFT) 繁榮時期。當時已知 SOL 受到 FTX 的影響，導致價格高峰超過 249 美元。

After the most recent Bitcoin (BTC) peak above $76,200, SOL also responded, by rising above $192. At one point, SOL traded above $194, with a premium against the U.S. dollar. Unlike other assets, SOL did not have a premium in its pairing with the Korean won, and instead traded at $188.81 on Upbit.

在比特幣 (BTC) 最近突破 76,200 美元的峰值後，SOL 也做出了回應，升至 192 美元以上。 SOL 的交易價格一度高於 194 美元，兌美元有溢價。與其他資產不同，SOL 與韓元的配對並沒有溢價，在 Upbit 上的交易價格為 188.81 美元。

Open interest on SOL rose sharply from November 5 onward, reaching an all-time high. Leveraged positions rose to $3.15 billion for SOL futures, pointing to the most active season in the asset’s history.

SOL的持股量自11月5日起大幅上升，達到歷史新高。 SOL 期貨的槓桿頭寸升至 31.5 億美元，標誌著該資產歷史上最活躍的季節。

At the levels just under $200, SOL also saw an expansion of long positions to 60% of all open interest. This ratio may invite selling to attack the long positions. SOL may be vulnerable to sell-offs from whales or fee recipients.

在略低於 200 美元的水平上，SOL 的多頭部位也擴大至所有未平倉合約的 60%。該比率可能會引發拋售以攻擊多頭部位。 SOL 可能容易受到鯨魚或收費接受者的拋售。

On the upside, SOL raised expectations of a breakout and a move to a new price range as high as $500. As one of the main platforms for crypto activity, Solana may also match other utility coins, moving closer to the range of BNB. In the short term, SOL is expected to attempt a rally to above $250, and up to $1,000 in a more extended bull market.

從好的方面來說，SOL 提高了突破並邁向高達 500 美元的新價格區間的預期。作為加密貨幣活動的主要平台之一，Solana 也可能與其他實用代幣相匹配，向 BNB 的範圍靠攏。短期內，SOL 預計將嘗試反彈至 250 美元以上，並在更長期的牛市中上漲至 1,000 美元。