鯨魚活動：Solana 價格的拋售風險或策略考量

當大量代幣被添加到交易所時，通常表示資產、流動性準備或戰略機構運動可能存在拋售風險。

After a strong rally post Trump’s win, a lot has changed in the crypto sector. Bitcoin and the Solana price are facing bull insufficiency after the December 2024 corrections.

在川普獲勝後的強勁反彈之後，加密貨幣行業發生了許多變化。 2024 年 12 月調整後，比特幣和 Solana 價格面臨牛市不足。

In 2025 start, bulls tried to wake up with Bitcoin reaching $100K again and SOL to $223. However, the euphoria was short-lived as bears dominated and followed the December 2024 trend.

2025 年伊始，多頭試圖醒來，比特幣再次達到 10 萬美元，SOL 達到 223 美元。然而，這種興奮是短暫的，因為空頭佔據主導地位並追隨 2024 年 12 月的趨勢。

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Solana showed bearish pressure despite several optimistic factors in the market. In 2025, Solana crypto announced future-based quantum attacks resistant Winternitz Vault. It also gave The SIMD-0215 proposal to improve blockchain and serve billions without sacrificing performance.

儘管市場存在一些樂觀因素，但 Solana 仍表現出看跌壓力。 2025 年，Solana crypto 宣布推出基於未來的抗量子攻擊 Winternitz Vault。它還提出了 SIMD-0215 提案，旨在改進區塊鏈並在不犧牲性能的情況下為數十億人提供服務。

Similarly, several giant factors are in line that could rejuvenate the long-term market after the inauguration ceremony this month. Those factors include the US Bitcoin Reserve topic, the anticipation of SOL ETF, and regulatory changes.

同樣，在本月的就職典禮後，有幾個重大因素可能會重振長期市場。這些因素包括美國比特幣儲備話題、SOL ETF 的預期以及監管變化。

Major firms remain upvoted about SOL crypto’s potential, with VanEck projecting a price target of $500 for 2025. Despite the long-term optimism, the short-term market activity has spooked market participant’s confidence.

主要公司仍然對 SOL 加密貨幣的潛力表示讚賞，VanEck 預計 2025 年的目標價為 500 美元。

Additionally, a whale recently transferred SOL tokens worth $75.37 Million on Coinbase. That has added more weight to market pessimism. While short-term technical bearish sentiment is pushing the Solana price down, its fundamentals tell a different story. Continue reading to know more.

此外，最近有鯨魚在 Coinbase 上轉移了價值 7,537 萬美元的 SOL 代幣。這進一步加劇了市場的悲觀情緒。雖然短期技術看跌情緒正在推動 Solana 價格下跌，但其基本面卻講述了不同的故事。繼續閱讀以了解更多資訊。

Whale Activity: A Sell-Off Risk for Solana Price or a Strategic Consideration

鯨魚活動：Solana 價格的拋售風險或策略考量

When a large proportion of tokens is added to an exchange, it often indicates possible sell-off risk for the asset, liquidity preparation, or strategic institutional movement.

當大量代幣被添加到交易所時，通常表示資產、流動性準備或戰略機構運動可能存在拋售風險。

Like recently, a crypto whale’s large transactions of 400K SOL worth $75.37 Million raised the eyebrows of users closely monitoring the Solana price. The increase in market supply could cause a price decline if it is intended to sell.

就像最近，一隻加密鯨魚的 400K SOL 價值 7537 萬美元的大筆交易引起了密切關注 Solana 價格的用戶的注意。如果打算出售，市場供應量的增加可能會導致價格下跌。

This whale activity occurred a day after other whales’ did similar activity. One crypto whale pumped Binance with 149.999K SOL worth $27.91 Million and another with 199.999K Sol worth $37.21 Million.

這次鯨魚活動發生在其他鯨魚進行類似活動的第二天。一隻加密鯨魚向幣安注入了 149.999K SOL，價值 2791 萬美元，另一隻加密鯨魚則向 Binance 注入了 199.999K Sol，價值 3721 萬美元。

Such intense moves by whales can affect the Solana crypto price sentiment, as there remains a large risk that small investors may also dump their holdings. Since more than one whale activity is involved in the short term, it shows that some might have sold it, but at the same time, the others might not have sold too.

鯨魚的如此激烈的舉動可能會影響 Solana 加密貨幣的價格情緒，因為小投資者也可能拋售其持有的資產，而這一風險仍然很大。由於短期內涉及不只一項鯨魚活動，這表明有些人可能已經出售了它，但同時，其他人可能也沒有出售。

Nevertheless, the purpose of the transfer remains unknown. So, one can also assume other possibilities on the good side.

儘管如此，轉移的目的仍不清楚。因此，我們也可以假設其他好的可能性。

Solana Crypto’s On-Chain Data Shows No Firm Ground for Pessimism

Solana Crypto 的鏈上數據顯示悲觀情緒沒有堅實的基礎

Since derivatives analysis shows that the SOL Open Interest (OI) is well positioned in the market, amounting to $6.11 Billion, and OI-weighted funding rates are rising at 0.0093%. It shows a bullish market as traders are optimistic about the underlying asset.

由於衍生性商品分析顯示，SOL 未平倉合約 (OI) 在市場中處於有利地位，達 61.1 億美元，且 OI 加權融資利率上升至 0.0093%。由於交易者對標的資產持樂觀態度，這表明市場看漲。

The fundamentals of Solana crypto, surprisingly, are robust in the DeFi space. The total value locked (TVL) is far above the level seen in last Q4’s 20021, where much growth stems from an impressive stablecoin market cap. It is also acing in transactional volume and network revenue.

令人驚訝的是，Solana 加密貨幣的基本面在 DeFi 領域表現強勁。鎖定的總價值 (TVL) 遠高於 20021 年第四季的水平，其中大部分成長源於令人印象深刻的穩定幣市值。它在交易量和網路收入方面也表現出色。

Also, in DEX activity, SOL is doing phenomenally well. Its 24-hour trading volume has surpassed major L-2 rivals, such as Ethereum, Base, BSC, and several others. Likewise, backed by its robust ecosystem growth, it is viewed on the verge of flipping the 5th largest Binance Coin (BNB). That’s because the market resurgence of the Solana crypto could flip a slim gap in the market cap.

此外，在 DEX 活動中，SOL 的表現也非常出色。其 24 小時交易量已超過主要的 L-2 競爭對手，例如以太坊、Base、BSC 等。同樣，在其強勁的生態系統成長的支持下，它被視為即將成為第五大幣安幣（BNB）。這是因為 Solana 加密貨幣的市場復甦可能會扭轉市值的微小差距。

All those factors, including ecosystem, social sentiment, derivatives, and fundamentals, show no base that could influence whales to go for a massive sell-off. On assembling these factors, multiple whale transfers hint towards strategic action rather than the disposition of all of the whales’ holding positions.

所有這些因素，包括生態系統、社會情緒、衍生性商品和基本面，都沒有顯示出可以影響鯨魚大規模拋售的基礎。綜合這些因素，多次鯨魚轉移暗示著戰略行動，而不是所有鯨魚持有位置的處置。

It indicates a possibility that not all whales’ assets on exchanges are for sell-offs but could be to rebalance their portfolios or to get ready for derivative trading. Perhaps it might be a part of some larger scheme, like staking or lending service of exchanges, to benefit by employing their funds on exchanges.

這表明，並非所有鯨魚在交易所的資產都用於拋售，而可能是為了重新平衡其投資組合或為衍生性商品交易做好準備。也許它可能是某些更大計劃的一部分，例如交易所的質押或借貸服務，透過在交易所使用資金來受益。

What Solana Price Could Show Next in Its Daily Chart?

Solana 價格接下來會在每日圖表中顯示什麼？

Now, the whale activity seems to be influencing the Solana price on the bearish side, but as per on-chain data, it could only affect it in the short term. As in the long-term future, the SOL price and its ecosystem growth remain optimistic.

現在，鯨魚活動似乎對 Solana 價格產生了看跌的影響，但根據鏈上數據，它只能在短期內對其產生影響。從長遠來看，SOL 價格及其生態系統的成長仍然樂觀。

Still, many who monitor the Solana crypto very often might wish to see how short-term whale activity might affect its price. This whale’s move has created an unpredictability factor in the short-term Solana crypto market mechanism.

儘管如此，許多經常監控 Solana 加密貨幣的人可能希望了解短期鯨魚活動可能如何影響其價格。這隻鯨魚的舉動為短期 Solana 加密貨幣市場機製造成了不可預測的因素。