THETA、SNX 和 LTC：哪種山寨幣將在下一次反彈中表現出色？

過去兩週，加密貨幣市場出現了一些波動。比特幣[BTC]在10.8萬美元關卡被拒絕，其價格發現階段已結束

The crypto market has seen some interesting price action over the past two weeks. Bitcoin [BTC] was rejected at the $108k mark, putting a temporary halt to its price discovery phase. Among the biggest gainers in the 2020-21 cycle, some coins made a resurgence over the past 4-6 weeks.

過去兩週，加密貨幣市場出現了一些有趣的價格走勢。比特幣 [BTC] 在 10.8 萬美元大關被拒絕，使其價格發現階段暫時停止。在 2020-21 週期漲幅最大的幣種中，一些幣種在過去 4-6 週內出現復甦。

Measured from 04 November’s lows to their local highs, Theta Network [THETA] made 235% gains, Synthetix [SNX] 199%, and Litecoin [LTC] 128%. Their rallies began on the same day and ended around the same time, towards the end of the first week of December. Since then, they have retraced by 33.9%, 43%, and 29.3% respectively.

從 11 月 4 日的低點到當地高點衡量，Theta Network [THETA] 上漲了 235%，Synthetix [SNX] 上漲了 199%，萊特幣 [LTC] 上漲了 128%。他們的集會在同一天開始，並在大約同一時間結束，即 12 月第一周結束時。此後，它們分別回撤了33.9%、43%和29.3%。

Will these massive performers from the previous cycle get another chance to run higher? A comparison of their on-chain metrics and price action offered some insights.

這些上一周期表現優異的企業是否還會有機會進一步提升？對其鏈上指標和價格行為的比較提供了一些見解。

MDIA drop shows another period of accumulation is needed before next rally

MDIA下跌表明在下一次反彈之前還需要一段時間的積累

Litecoin was not one of the biggest gainers from the previous cycle, but it did have a compelling narrative a few years ago. Touted as “the silver to Bitcoin’s gold” and the lighter, faster alternative to BTC, the tall claims did not translate to positive performance over the years. This was made worse by the arrival of newer tokens, pushing LTC further from the public’s eye.

萊特幣並不是上一周期的最大贏家之一，但幾年前它確實有一個引人注目的故事。比特幣被吹捧為「比特幣黃金中的白銀」以及比特幣更輕、更快的替代品，但多年來，這種高調的說法並沒有轉化為積極的表現。新代幣的到來使情況變得更糟，使 LTC 進一步遠離公眾的視線。

The on-chain metrics of LTC and SNX showed that there was potential for further gains. The MDIA of SNX had been falling over the past month. This highlighted investments flowing back into regular circulation and was a sign of increased network activity.

LTC 和 SNX 的鏈上指標顯示還有進一步上漲的潛力。 SNX 的 MDIA 在過去一個月一直在下降。這凸顯了投資回流到常規流通中，也是網路活動增加的跡象。

The MDIA of LTC rose higher in February 2024 than it did at any point in the last six years. And yet, this hike, and the sharp decline that followed, were not accompanied by the massive price gains expected from new investments. Instead, LTC remained bound to its long-term range formation.

2024 年 2 月，LTC 的 MDIA 漲幅高於過去六年的任何時候。然而，這次上漲以及隨後的急劇下跌並沒有伴隨著新投資預期的大幅價格上漲。相反，LTC 仍受其長期區間形成的影響。

The Network Value to Transactions ratio for both tokens has been trending south since June. This indicated higher transaction activity and more economic activity on the network. On the other hand, the high NVT for Litecoin suggested the token might be overvalued compared to its network activity. THETA metrics were not available on the platform.

自 6 月以來，這兩種代幣的網路價值與交易比率一直呈下降趨勢。這顯示網路上的交易活動更高，經濟活動也更多。另一方面，萊特幣的高 NVT 表明，與其網路活動相比，該代幣的價值可能被高估。該平台上沒有 THETA 指標。

Will THETA’s outperformance continue?

THETA 的優異表現會持續嗎？

Set on the same percentage scale, the price performance of the three tokens showed stark differences. Q1 2024’s rally saw THETA heftily outperformed the other two in terms of price appreciation. November’s rally was also slightly stronger.

在相同的百分比範圍內，三種代幣的價格表現顯示出明顯的差異。 2024 年第一季的反彈使 THETA 在價格升值方面遠遠超過其他兩家。 11 月的反彈也稍強。

Read Synthetix’s [SNX] Price Prediction 2025-26

閱讀 Synthetix 的 [SNX] 2025-26 價格預測

Over the last four years, the difference in performances was more clear. Measured from May 2020, the gains THETA saw in 2021’s altcoin season outstripped that of Synthetix token or Litecoin by a large margin. The performance in 2024 and 2021 were persuasive evidence that Theta Network might be the best bet among the three altcoins.

過去四年，表現上的差異更加明顯。從 2020 年 5 月開始衡量，THETA 在 2021 年山寨幣季節的漲幅大幅超過了 Synthetix 代幣或萊特幣。 2024 年和 2021 年的表現有說服力的證據表明，Theta Network 可能是三種山寨幣中最好的選擇。