随着后者的区块链引入新的第2层解决方案，比特币和以太坊正在竞争捕获Solana的流动性

本周，以太坊达到了12天的高度，而Solana的流动性大幅下降了7.72亿美元。

Bitcoin and Ethereum are vying for liquidity as Solana integrates new Layer 2 solutions. While Ethereum reached a 12-day high this week, Solana experienced a substantial liquidity loss of $772 million.

随着索拉纳（Solana）整合新的第2层解决方案，比特币和以太坊正在争夺流动性。尽管以太坊在本周达到12天的高度，但索拉纳经历了7.72亿美元的流动性损失。

Prominent rug pulls and controversies involving the LIBRA and MELANIA tokens have hindered the recent surge in meme coins, further complicating Solana's situation. At press time, Solana (SOL) trades at $172.98, down over 40% from its peak of $295.83.

涉及天秤座和梅拉尼亚代币的突出地毯拉力和争议阻碍了最近的模因硬币激增，这进一步使Solana的情况变得更加复杂。发稿时，Solana（Sol）的交易价格为172.98美元，比其峰值295.83美元下降了40％以上。

Coinciding with Solana's liquidity loss, Ethereum's price surged to a 12-day high of $2,849.50 this week. Both platforms have been closely matched in decentralised exchange (DEX) metrics since the launch of Pump.fun, a meme coin launchpad on Solana. However, the recent controversies surrounding meme tokens have negatively impacted market capitalisation on the Solana blockchain.

与Solana的流动性损失相吻合，以太坊的价格飙升至本周2,849.50美元的12天高点。自从Solana上的M​​eme Coin Coin Launchpad推出以来，这两个平台都与分散交易所（DEX）的指标密切匹配。但是，最近围绕模因令牌的争议对Solana区块链的市值产生了负面影响。

After months of underperformance relative to Ethereum, there are signs that Ethereum may be poised for a rally, as indicated by derivatives market data. The long/short ratio across derivatives exchanges has surpassed 1, suggesting bullish sentiment among traders for Ether on Binance and OKX markets.

在相对于以太坊的表现不佳之后，有迹象表明，如衍生品市场数据所示，以太坊可能会有所准备参加集会。衍生品交流之间的长/短比例已超过1，这表明交易者对Ether的Binance和OKX市场的看法。

While Bitcoin exchange-traded funds (ETFs) continue to dominate the market, Ethereum ETFs have also seen a rise in institutional adoption. According to “The Institutional Crypto Newsletter” by Coin Stack, institutional ownership of Ether has increased quarter-on-quarter, with overall Ether ETF ownership climbing from 4.8% to 14.5%. Recent 13F filings reveal a growing demand for Ethereum ETFs from institutional investors.

尽管由比特币交易所交易的资金（ETF）继续主导着市场，但以太坊ETF也看到了机构采用的增加。根据Coin Stack的“机构加密通讯”的“机构加密通讯”，Ether的机构所有权增加了四分之一的季度，总体ETHER ETH所有权从4.8％攀升至14.5％。最近的13F文件显示，机构投资者对以太坊ETF的需求不断增长。

As Layer 2 protocols are introduced on Bitcoin, the cryptocurrency is entering the competition for DeFi liquidity that has long been associated with Ethereum. This comes as institutional interest in Bitcoin remains strong, while Ethereum may face challenges in maintaining its dominance in the DeFi market.

由于第2层协议是在比特币上引入的，因此加密货币正在进入长期与以太坊相关的DEFI流动性竞争。这是因为对比特币的机构兴趣仍然很强，而以太坊可能在维持在Defi市场中的统治地位时面临挑战。

With the introduction of Layer 2 solutions aiming to enhance transaction speeds on the Ethereum blockchain, a similar ecosystem may emerge on Bitcoin. As more dApps and DeFi protocols integrate with Bitcoin, it could become a major player in the DeFi space.

随着旨在提高以太坊区块链的交易速度的第2层解决方案的引入，可以在比特币上出现类似的生态系统。随着越来越多的DAPP和DEFI协议与比特币集成，它可能成为Defi空间中的主要参与者。

Dom Harz, co-founder of BOB (“Build on Bitcoin”), had this to say about the recent developments in the meme coin market:

鲍勃（Bob）的联合创始人唐·哈兹（Dom Harz）（“在比特币上建造”）就模因硬币市场的最新发展说了这一点：

“The broad appeal of meme coins is undeniable, but following high-profile incidents, the frenzy may be cooling. The recent rug-pull accusations surrounding the $LIBRA token and other controversies may have significantly impacted the memecoin bull run.”

“模因硬币的广泛吸引力是不可否认的，但是在引人注目的事件之后，狂热可能正在冷却。最近围绕$ libra代币和其他争议的地毯扣指控可能会严重影响memecoin公牛的运行。”

And on the shifting landscape in crypto:

以及在加密货币的转变景观上：

“Despite Ethereum's underwhelming performance in this cycle, it remains the preferred chain for builders, as opportunities attract both developers and investors. With the upcoming Pectra upgrade, there is potential for a renewed focus on Ethereum as the memecoin era winds down.”

“尽管以太坊在这个周期中表现出色，但它仍然是建筑商的首选连锁店，因为机会吸引了开发商和投资者。随着即将到来的Pectra升级，随着Memecoin时代的结束，人们可能会重新关注以太坊。”

“The most exciting developments are currently occurring on Bitcoin, with innovations like BitVM and Bitcoin DeFi gaining momentum in 2025. The notion that investors must look beyond Bitcoin for DeFi opportunities is rapidly changing as more builders and institutions turn their attention to crypto’s most secure asset.”

“目前，最令人兴奋的发展是在比特币上发生的，诸如BITVM和比特币Defi之类的创新在2025年获得了势头。随着越来越多的建筑商和机构将注意力转移到Crypto最安全的资产，投资者必须超越比特币寻求比特币的观念正在迅速发生变化。 。”

Harz also added that as the meme coin trend subsides, there could be a shift back to Bitcoin, which is attracting builders and institutions with its secure asset and DeFi capabilities.

Harz还补充说，随着Meme Coin趋势的消退，可能会转移到比特币，该比特币以其安全的资产和Defi功能吸引了建筑商和机构。