在CME上推出的Solana（Sol）期貨，初始接收有限

與比特幣（BTC）和以太坊（ETH）期貨的盛大介紹不同，索拉納（Solana）的首次亮相在很大程度上沒有引起人們的注意。

The Chicago Mercantile Exchange (CME) quietly introduced Solana (SOL) futures on Monday, a stark contrast to the grand unveilings of Bitcoin (BTC) and Ethereum (ETH) futures.

芝加哥商業交易所（CME）週一悄悄地推出了Solana（Sol）期貨，與比特幣（BTC）和以太坊（ETH）期貨的宏偉揭幕形成鮮明對比。

While the first day of trading saw $12.3 million in notional volume and left $7.8 million in open interest, these figures pale in comparison to BTC and ETH at their launches. As K33 Research's latest report highlights, Bitcoin futures, which debuted in December 2017, notched a staggering $102.7 million in first-day trading volume, accompanied by open interest of $20.9 million.

雖然交易的第一天的名義量達到了1,230萬美元，並且在開放式上留下了780萬美元的公開利息，但與BTC和ETH的發射相比，這些數字蒼白。正如K33 Research的最新報告所強調的那樣，比特幣期貨於2017年12月首次亮相，在第一天的交易量中獲得了驚人的1.027億美元，並伴隨著2090萬美元的開放興趣。

Later, in February 2021, Ethereum futures stepped onto the scene with $31 million in volume and $20 million in open interest.

後來，2021年2月，以太坊期貨以3100萬美元的數量和2000萬美元的開放利息登上了現場。

Now, as Solana's futures enter the market, they do so amid a bearish crypto market, further impacted by the decline of memecoins and recent advertising missteps by Solana. This is reflected in the SOL token itself dropping 10% from prior weekend highs, compared to Bitcoin and Ethereum's more modest declines of 4.5% and 3.8%, respectively.

現在，隨著索拉納（Solana）的期貨進入市場，在看跌的加密市場中，他們這樣做了，這進一步受到了索拉納（Solana）的成員和最近的廣告失誤的影響。與比特幣和以太坊更適度的下降4.5％和3.8％相比，SOL令牌本身的反映在上一周的高點上下降了10％。

However, adjusting for market capitalization, the initial reception of Solana's futures aligns more closely with BTC and ETH's launches. K33 analysts noted that Solana's market cap was roughly $65 billion at the time of launching its futures, dwarfing Bitcoin's $318 billion and Ethereum's $200 billion during their respective debuts.

但是，調整市值，索拉納期貨的初步接受與BTC和ETH的發射更加一致。 K33分析師指出，在推出其期貨時，Solana的市值約為650億美元，矮人比特幣的3180億美元和以太坊在各自的首次亮相期間的2000億美元。

Moreover, Solana's timing for launching its futures product faced headwinds due to prevailing market conditions.

此外，由於市場狀況，索拉納（Solana）推出其期貨產品的時機面臨逆風。

Historical precedents show that Bitcoin's CME futures launched amid a peak speculative phase, leading to immediate demand of $700 million for the futures product. In contrast, Solana's launch occurs in a risk-off environment, lacking significant catalysts or hype to spur demand.

歷史先例表明，比特幣的CME期貨在峰值投機階段推出，導致期貨產品的7億美元需求。相比之下，Solana的發射發生在風險環境中，缺乏大量的催化劑或刺激了刺激需求。

“The enthusiasm for this new CME product launch is significant as it arrives at a time when major liquid funds are looking for ways to manage their Solana exposure, especially given the lack of futures-based exchange-traded products (ETFs) focusing on Solana,” said derivatives trader Josh Lim, who recently started Arbelos Markets—acquired by prime broker FalconX.

衍生品交易員喬什·林（Josh Lim）表示：“這種新的CME產品推出的熱情非常重要，因為它到達了主要的液體基金正在尋找管理索拉納曝光的方法，尤其是考慮到缺乏基於期貨的交易所買賣產品（ETFS），專注於Solana。”

FalconX executed the first SOL futures block trade on CME with financial services firm StoneX, Lim confirmed, adding that he's optimistic as the CME product provides an opportunity for liquid funds to manage their SOL holdings.

Falconx證實，Falconx與金融服務公司Stonex執行了CME上的CME貿易，並補充說，他很樂觀，因為CME產品為液體資金提供了管理其SOL Holdings的機會。

“We're really going to see what happens when a token with liquid futures rolls over in a big way and there's no ETF to absorb it. Is the market going to create demand for it?” Lim questioned in a Telegram message.

“我們真的會看到當液體期貨的代幣大量滾滾而來，沒有ETF吸收它。 Lim在電報消息中提問。

When asked about hedge funds' interest in Solana futures, Lim replied in the affirmative, adding that they'll be able to access it through these new instruments, something they've been requesting for a long time.

當被問及對沖基金對Solana Futures的興趣時，Lim回答說，他們將能夠通過這些新工具來訪問它，這是他們很長時間以來一直要求的。

“People are missing the big picture on the new CME products. There's a narrative that we're in a bear market and no one cares about altcoins. But we're also in an environment where we have a new generation of liquid funds that prefer futures to ETFs and have a mandate for managing Solana exposure,” Lim explained.

“人們在新的CME產品上缺少大量的敘述，我們在熊市中，沒有人關心Altcoins，但我們也有一個新一代的液體資金，他們喜歡期貨，而不是ETF的授權，並且具有管理Solana曝光的任務。”