XLM、UNI 和 AAVE 代幣激增

截至撰寫本文時，XLM 交易價格為 0.5066 美元，過去 24 小時內上漲近 16%，過去一週上漲超過 103%。

Stellar Lumens (XLM), Uniswap (UNI) and Aave (AAVE) are among the top cryptocurrencies that have recorded double-digit gains over the last 24 hours.

Stellar Lumens (XLM)、Uniswap (UNI) 和 Aave (AAVE) 是過去 24 小時內錄得兩位數漲幅的頂級加密貨幣。

At the time of writing, XLM traded at $0.5066, up nearly 16% over the last 24 hours and over 103% in the past week. Stellar had recorded more than $4.6 billion in 24-hour volume and its market cap stood at $14.9 billion, according to CoinGecko data.

截至撰寫本文時，XLM 交易價格為 0.5066 美元，過去 24 小時內上漲近 16%，過去一週上漲超過 103%。根據 CoinGecko 的數據，Stellar 24 小時交易量超過 46 億美元，市值為 149 億美元。

UNI price hovered around $12.64, up 15% over the last 24 hours and 39% this past week. The Uniswap market was $7.5 billion and the trading volume stood at over $1 billion.

UNI 價格徘徊在 12.64 美元左右，過去 24 小時內上漲 15%，上週上漲 39%。 Uniswap 市場規模為 75 億美元，交易量超過 10 億美元。

Aave’s price also rode bullish momentum over the last month to trade above $198. On Wednesday, the AAVE token reached intraday highs of $195 and looking to break above $200. AAVE was up 12% in the past 24 hours and 20% this past week.

上個月 Aave 的價格也保持看漲勢頭，交易至 198 美元以上。週三，AAVE 代幣觸及 195 美元的盤中高點，並有望突破 200 美元。 AAVE 在過去 24 小時內上漲了 12%，上週上漲了 20%。

Other top altcoins, including XRP, Cardano (ADA) and Avalanche (AVAX) recorded double-digit gains, with XRP looking to strengthen above $1.40.

其他頂級山寨幣，包括 XRP、Cardano (ADA) 和 Avalanche (AVAX) 均錄得兩位數漲幅，其中 XRP 預計將升至 1.40 美元以上。

But what’s delaying the altcoin season?

但是什麼推遲了山寨幣季節呢？

While major altcoins and meme coins are recording decent gains, analysts say the altcoin season is yet to arrive.

儘管主要的山寨幣和迷因幣都錄得了可觀的漲幅，但分析師表示，山寨幣季節尚未到來。

Commenting on altcoin performance during this cycle compared to Bitcoin’s (BTC) rip to near $100,000 in the last cycle, CryptoQuant CEO Ki Young Ju said things are different this time around.

CryptoQuant 執行長 Ki Young Ju 在評論本週期中山寨幣的表現時表示，與上一個週期中比特幣 (BTC) 飆升至近 10 萬美元相比，這次情況有所不同。

“Compared to the last cycle, the nature of capital flowing into Bitcoin has shifted. The current Bitcoin rally is primarily driven by demand from institutional investors and spot ETFs. Unlike crypto exchange users, institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins. Moreover, as they operate outside of crypto exchanges, asset rotation becomes inherently less feasible,” the analyst noted in a commentary on Substack.

「與上一個週期相比，流入比特幣的資本性質已經發生了變化。目前比特幣的上漲主要是由機構投資者和現貨 ETF 的需求所推動的。與加密貨幣交易所用戶不同，機構投資者和 ETF 買家無意將其資產從比特幣轉向山寨幣。此外，由於它們在加密貨幣交易所之外運營，資產輪換本質上變得不太可行，」該分析師在 Substack 的評論中指出。

However, the outlook is more accurate for small cap altcoins, which might not attract institutional investors through ETFs or other investment vehicles.

然而，小盤山寨幣的前景更為準確，它可能無法透過 ETF 或其他投資工具吸引機構投資者。

“Minor altcoins still rely on crypto exchange users to buy them,” Young Ju added.

「小型山寨幣仍然依賴加密貨幣交易所用戶購買，」Young Ju 補充道。

This is what is delaying the alt season, according to the CryptoQuant CEO, pointing to a reduced influx of fresh capital from new exchange users.

CryptoQuant 執行長表示，這就是山寨幣季節被推遲的原因，他指出新交易所用戶流入的新資本減少了。

“If Bitcoin retail FOMO reignites, exchange user activity might increase, potentially setting the stage for an altcoin season. However, Bitcoin’s future growth is expected to come from ETFs, institutions, and maybe govts, rather than retail traders on crypto exchanges,” he said.

「如果比特幣散戶 FOMO 重新燃起，交易所用戶活動可能會增加，可能為山寨幣季節奠定基礎。然而，比特幣未來的成長預計將來自 ETF、機構，或許還有政府，而不是加密貨幣交易所的零售交易員。