隨著空頭主導第二季前景，Solana 第一季的漲幅減弱

Solana 的 [SOL] 市值在第一季飆升超過 130%，費用和收入大幅增加。然而，儘管收入成長，但由於支出增加，區塊鏈的總收入下降。第二季 SOL 價格的下跌，加上負權重情緒和衍生性商品市場未平倉合約的增加，顯示投資人的看跌情緒。

Solana's First-Quarter Performance and Outlook for Q2

Solana 第一季業績與第二季展望

Elevated Performance in Q1

第一季業績提升

Solana (SOL) concluded the first quarter of 2024 with a remarkable performance, showcasing positive indicators on multiple fronts. Data compiled by Coin98 Analytics revealed exceptional growth in key metrics. Compared to the previous quarter, SOL's fees and revenue surged sevenfold, demonstrating a significant increase of 27 times year-over-year.

Solana (SOL) 以出色的表現結束了 2024 年第一季度，在多個方面都展現了積極的指標。 Coin98 Analytics 編製的數據顯示關鍵指標出現了異常成長。與上一季相比，SOL 的費用和收入猛增七倍，較去年同期大幅成長 27 倍。

Despite the substantial revenue surge, Solana's overall earnings experienced a 131% decline in the last quarter, primarily attributed to a 141% increase in the blockchain's expenses. Nonetheless, the network activity remained robust, with daily active addresses witnessing a 214% surge, surpassing 591k.

儘管收入大幅增長，但 Solana 的整體收益在上個季度下降了 131%，這主要歸因於區塊鏈費用增加了 141%。儘管如此，網路活動依然強勁，每日活躍地址激增 214%，超過 591,000 個。

Q2 Outlook: Mixed Signals

第二季展望：喜憂參半

An analysis of data from Artemis indicated a decline in SOL's fees and revenue during the past week, along with a downward trend in daily active addresses. However, the number of daily transactions increased last week, suggesting an uptick in usage.

對 Artemis 數據的分析表明，過去一周 SOL 的費用和收入有所下降，每日活躍地址也呈下降趨勢。然而，上週每日交易數量有所增加，顯示使用量增加。

Investor Sentiment Turns Bearish

投資人情緒轉為看跌

Coin98's analysis attributed SOL's price surge in Q1 to bullish market conditions, with its circulating market cap exceeding $53 billion, representing an impressive 130% increase. However, as Q2 unfolded, bears gained momentum.

Coin98 的分析將 SOL 在第一季的價格飆升歸因於看漲的市場狀況，其流通市值超過 530 億美元，增幅高達 130%，令人印象深刻。然而，隨著第二季的展開，空頭勢頭增強。

CoinMarketCap data revealed a decline of over 5% in SOL's price during the last seven days. At the time of writing, SOL traded at $173.25, with a market cap exceeding $77 billion.

CoinMarketCap 數據顯示，過去 7 天內 SOL 的價格下跌了 5% 以上。截至本文撰寫時，SOL 交易價格為 173.25 美元，市值超過 770 億美元。

Sentiment analysis conducted by Santiment showed that while Solana's social volume remained high, reflecting its popularity, investor confidence declined due to the price action. The weighted sentiment for SOL remained negative, indicating the dominance of bearish sentiment in the market.

Santiment 進行的情緒分析顯示，雖然 Solana 的社交量仍然很高，反映出其受歡迎程度，但投資者信心因價格走勢而下降。 SOL 的加權情緒仍然為負面，顯示市場上看跌情緒占主導地位。

Derivatives Market Signals

衍生性商品市場訊號

An examination of the derivatives market revealed a bearish outlook for SOL. Open interest increased while the price declined, suggesting that the downward price trend could continue. Additionally, SOL's high funding rate indicated that futures investors were purchasing SOL at its low price.

對衍生性商品市場的檢查顯示 SOL 的前景看跌。持倉量增加而價格下跌，顯示價格下跌趨勢可能會持續。此外，SOL 的高融資率表明期貨投資者正在以低價購買 SOL。

Implications for Investors

對投資者的影響

The mixed signals in Q2 suggest caution for SOL investors. The decline in fees and revenue, combined with bearish investor sentiment, could potentially lead to further price decreases. However, the increase in daily transactions provides some support for the network's usage.

第二季的混合訊號顯示 SOL 投資者應保持謹慎。費用和收入的下降，加上投資者的悲觀情緒，可能會導致價格進一步下跌。不過，日常交易量的增加為網路的使用提供了一定的支持。

Investors should carefully monitor market conditions, technical indicators, and sentiment analysis to assess the potential trajectory of SOL in the coming weeks. As with any investment, it is advisable to conduct thorough research and consult with financial professionals before making investment decisions.

投資者應仔細監控市場狀況、技術指標和情緒分析，以評估 SOL 在未來幾週的潛在軌跡。與任何投資一樣，建議在做出投資決定之前進行徹底的研究並諮詢金融專業人士。