Solana DeFi 生态系统的历史性挫折

Solana 的总锁定价值（TVL）是其 DeFi 生态系统绩效的关键指标，在 2024 年 12 月出现了大幅下降。

Solana, known for its speed and low transaction costs, has encountered a setback in December with a decline in DeFi activity.

以速度快和交易成本低而闻名的 Solana 在 12 月份遭遇了挫折，DeFi 活动下降。

The Total Value Locked (TVL) in Solana DeFi dropped by $1.1 billion in 21 days, reaching $8.01 billion. This marks a 12% decrease, indicating a slowdown in blockchain activity, further evidenced by a 7% reduction in daily active addresses.

Solana DeFi 的锁定总价值（TVL）在 21 天内减少了 11 亿美元，达到 80.1 亿美元。这标志着 12% 的下降，表明区块链活动放缓，每日活跃地址减少 7% 进一步证明了这一点。

The decline in activity is a concern for Solana, especially in a competitive market where growth is crucial for attracting users and developers. This setback could lead to a loss of momentum and a shift in focus towards other emerging platforms.

活动下降是 Solana 担心的问题，尤其是在竞争激烈的市场中，增长对于吸引用户和开发者至关重要。这一挫折可能会导致动力丧失，并将重点转向其他新兴平台。

The impact of the decline is also evident in the flagship protocols of the Solana DeFi ecosystem. Jito, a major DeFi platform on Solana, experienced a 28% drop in its own TVL, which now stands at $2.66 billion.

下降的影响在 Solana DeFi 生态系统的旗舰协议中也很明显。 Solana 上的主要 DeFi 平台 Jito 的 TVL 下降了 28%，目前为 26.6 亿美元。

This waning interest in the DeFi products of the blockchain seems to fit into a broader dynamic of trust erosion, which is being amplified by the poor short-term outlook. The available data points towards a growth slowdown that had, until now, contributed to Solana's fame and attractiveness within the blockchain ecosystem.

人们对区块链 DeFi 产品的兴趣减弱似乎符合更广泛的信任侵蚀动态，而糟糕的短期前景又加剧了这种侵蚀。现有数据表明，迄今为止，增长放缓一直提升了 Solana 在区块链生态系统中的声誉和吸引力。

Solana revenue fell by 24% from early December, while the native SOL token declined by 28% in a month.

Solana 收入较 12 月初下降了 24%，而原生 SOL 代币在一个月内下降了 28%。

Solana's revenues have decreased by 24% since the beginning of December. This decline reflects a broader slowdown in network activity, which mirrors the difficulties faced by the ecosystem.

自 12 月初以来，Solana 的收入下降了 24%。这种下降反映了网络活动更广泛的放缓，这反映了生态系统面临的困难。

At the same time, the performance of the native SOL token has been particularly affected, with a 28% drop in its value within a month. This decline is accompanied by unpromising technical indicators. The Chaikin Money Flow (CMF), which measures the relationship between price and volume, shows a negative value of -0.04. This result sheds further light on increased selling pressure and a marked imbalance between accumulation and distribution, which reinforces the bearish outlook for the token.

与此同时，原生 SOL 代币的表现受到的影响尤其严重，其价值在一个月内下跌了 28%。这种下跌伴随着不乐观的技术指标。衡量价格与交易量之间关系的 Chaikin 资金流 (CMF) 显示负值 -0.04。这一结果进一步揭示了抛售压力的增加以及积累和分配之间的明显不平衡，这强化了代币的看跌前景。

However, some observers believe that a turnaround in market sentiment could be sufficient to reverse the current trend. If the price of SOL manages to break through strategic resistance at $187 and stabilize above $200, the network could regain attractiveness among investors. Such a development would, however, require sustained efforts to restore user confidence. Solana could, for instance, seek to revitalize its on-chain activity through economic incentives or technological innovations. In this context, Solana's future will depend on its ability to demonstrate resilience in the face of current challenges and to capitalize on its strengths to revitalize its ecosystem.

然而，一些观察人士认为，市场情绪的好转可能足以扭转当前的趋势。如果 SOL 的价格能够突破 187 美元的战略阻力位并稳定在 200 美元以上，该网络可能会重新获得投资者的吸引力。然而，这样的发展需要持续的努力来恢复用户的信心。例如，Solana 可以寻求通过经济激励或技术创新来重振其链上活动。在这种背景下，Solana 的未来将取决于其在面对当前挑战时展现韧性的能力，以及利用其优势重振生态系统的能力。

The decline in TVL and revenues of Solana highlights the major challenges the blockchain faces in a continuously evolving sector. This situation, while critical, could provide an opportunity to rethink its strategy and revitalize its DeFi ecosystem. With its technological strengths and the return of user confidence, Solana could regain its growth momentum and strengthen its position among the industry leaders. Success, however, will depend on its ability to turn this crisis period into a lever for new opportunities.

Solana 的 TVL 和收入的下降凸显了区块链在不断发展的行业中面临的主要挑战。这种情况虽然很严重，但可能会提供一个重新思考其战略并重振其 DeFi 生态系统的机会。凭借其技术优势和用户信心的恢复，Solana 可以重新获得增长动力并巩固其在行业领导者中的地位。然而，成功将取决于其能否将这一危机时期转化为新机遇的杠杆。