Solana：新的BNB链被Memecoin活动和市场投机所消耗的地狱景观

Solana目前是一个区块链生态系统，随着MEMECOIN活动和市场投机的增强而消耗的区块链生态系统。平台的技术优势

Solana is currently grappling with a surge of memecoin activity and market speculation within its blockchain ecosystem. The platform's technical advantages, such as sub-second finality and low transaction fees, have attracted a wave of speculative projects, drawing comparisons to BNB Chain, which experienced a similar trajectory during the memecoin boom.

Solana目前正在其区块链生态系统中的成长活动和市场猜测激增。该平台的技术优势，例如次秒终结性和低交易费用，吸引了一波投机项目，与BNB链进行了比较，后者在Memecoin Boom期间经历了类似的轨迹。

Solana-based tokens have been driving high-frequency trading activity, echoing the early days of BNB Chain when low fees and Binance's infrastructure fueled rapid retail adoption.

总部位于Solana的代币一直在推动高频交易活动，在低费用和Binance的基础设施促进了快速零售的采用时，回荡了BNB链的早期。

BNB Chain, which rose to prominence in 2021, capitalized on low transaction costs and strong integration with Binance. Projects such as SafeMoon and Baby DogeCoin spurred retail interest, eventually leading to criticism over scams, rug pulls, and unsustainable tokenomics.

BNB连锁店在2021年升起，利用了低交易成本和与Binance的强大整合。 Safemoon和Baby Dogecoin等项目激发了零售的兴趣，最终导致对骗局，地毯拉和不可持续的标记学批评。

DEXes like PancakeSwap became filled with memecoins and scam tokens as the low monetary cost of attempted scams became an opportunity for criminals.

像Pancakeswap这样的Dexes充满了Memecoins和Sacam Sigkens，因为未遂骗局的货币成本低成为罪犯的机会。

Although BNB Chain has seen a resurgence this year with viral tokens like Broccoli and Test, its renewed activity has not entirely dispelled the platform's reputation, which is primarily driven by speculative trading. Further, BNB Chain’s revival is reliant on copying the pump.fun strategy on Solana rather than introducing novel technology.

尽管BNB Chain今年通过如西兰花和测试等病毒令牌复兴，但其更新的活动并未完全消除该平台的声誉，这主要是由投机性交易驱动的。此外，BNB连锁店的复兴依赖于复制泵。关于Solana的泵策略，而不是引入新技术。

Solana, as the new BNB

Solana，作为新的BNB

Solana's evolution mirrors some of these challenges. The platform's ultra-low fees initially offered a strong incentive for traders, but network instability under high load has since eroded market confidence.

Solana的演变反映了其中一些挑战。该平台的超低费用最初为交易者提供了强大的激励措施，但是自从高负载下的网络不稳定削弱了市场信心。

Data from mid-February shows that Solana's active addresses fell from 18.5 million to 8.4 million, and daily DEX volumes dropped from $35 billion to $2.4 billion. BNB Chain saw new fee activity driven by renewed memecoin interest, but this is already beginning to decline. Such figures point to networks under strain, where speculative trading may come at the expense of broader application utility.

2月中旬的数据显示，Solana的主动地址从1850万下降到840万，每日DEX量从350亿美元下降到24亿美元。 BNB连锁店看到了新的费用活动，这是由于新的Memecoin兴趣所推动的，但这已经开始下降。这样的数字指出了在压力下的网络，在这种网络下，投机性交易可能以更广泛的应用程序实用程序为代价。

Dom Harz, co-founder of BOB (Build on Bitcoin), told CryptoSlate,

鲍勃（Bob）的联合创始人唐·哈兹（Dom Harz

“There’s no denying the broad appeal of meme coins, but after some high-profile issues, perhaps the memecoin frenzy has started to cool a bit.

“不可否认，模因硬币的广泛吸引力，但是在一些引人注目的问题之后，Memecoin Frenzy也许已经开始冷静了一下。

This week's rug-pull accusation surrounding Argentinian President, Javier Milei’s $LIBRA token, along with earlier controversies like Donald Trump’s $TRUMP, $MELANIA and $BARRON and Hawk Tuah Girl’s $HAWK, may have done serious damage to the memecoin bullrun.”

本周围绕阿根廷总统Javier Milei的$ libra代币的地毯扣指控，以及诸如唐纳德·特朗普（Donald Trump）的$ trump，$ melania和$ barron和$ barron和霍克·图阿（Hawk tuah）女孩的$ hawk之类的早期争议，可能会对梅肯·布伦（Memecoin Bullrun）造成严重损害。”

BNB's TVL peak was over $20 billion in 2021 but has since declined to around $5 billion.

BNB的TVL Peak在2021年超过200亿美元，但此后已降至50亿美元。

Solana TVL also peaked at around $10 billion in 2021 before hitting a new all-time high of around $12 billion at the start of 2025. It has since dropped to $8 billion, while the SOL price is down over 40%.

Solana TVL在2021年达到了约100亿美元的高峰，在2025年初的新历史最高点数大约120亿美元之前。此后已降至80亿美元，而SOL价格下跌了40％以上。

Developer sentiment on both chains has also been affected. According to DefiLlama data, both BNB and Solana have seen a dramatic drop in core developer contributions. In November 2021, Solana had over 160 core developers, with figures now showing less than ten. BNB Chain mirrors this, with a comparable fall from 115 to just 16.

这两个连锁店的开发人员情绪也受到影响。根据Defillama数据，BNB和Solana都看到核心开发人员的贡献急剧下降。 2021年11月，索拉纳（Solana）拥有160多名核心开发商，现在的数字少于十个。 BNB链条反映了这一点，从115降至16。

Institutional interest in Solana waned after a high-profile collapse of a memecoin—LIBRA—wiped out billions in market value within hours amid insider trading allegations.

在内幕交易指控中，在数十亿美元的销售中，索拉纳（Solana）的机构兴趣减弱了数十亿美元的市场价值。

Memecoin hellscape on Solana

索拉纳（Solana）的Memecoin Hellscape

Solana Labs co-founder Anatoly Yakovenko acknowledged the severe challenges, describing the ecosystem as a “hellscape” in need of permissionless, fair launch solutions. This sentiment contrasts with BNB Chain's approach, which saw a more measured embrace of speculative tokens despite periodic setbacks. However, BNB Chain has remained indifferent to US regulations, focusing on the rest of the world, while Solana appears more interested in US acceptance.

Solana Labs联合创始人Anatoly Yakovenko承认了严重的挑战，将生态系统描述为需要无许可，公平发射解决方案的“地狱景观”。这种情绪与BNB连锁店的方法形成鲜明对比，BNB链的方法在定期挫折的情况下，人们对投机令牌的拥抱更为衡量。但是，BNB连锁店仍然对美国法规无动于衷，重点关注世界其他地区，而Solana似乎对美国接受更感兴趣。

With the President of the United States launching memecoins with no underlying utility for himself and his family on Solana, memecoins appear to be the low-hanging fruit. Yet, how long before the fruit rots and Solana's reputation is closer aligned to memecoins than cutting-edge blockchain technology?

随着美国总统发起的纪念物，在索拉纳（Solana）上没有基本的公用事业，而Memecoins似乎是低端的水果。然而，与尖端的区块链技术相比，水果腐烂和索拉纳的声誉要与成员更接近多长时间？

The parallel between Solana and BNB Chain lies in this tension between growth driven by the memecoin frenzy and the quest for sustainable utility. Solana faces the need to balance market buzz with a commitment to long-term network resilience.

Solana和BNB链之间的相似之处在于，Memecoin Frenzy驱动的增长与寻求可持续公用事业的张力之间的张力。 Solana面临平衡市场嗡嗡声与对长期网络弹性的承诺。

Once, Solana was seen as a true competitor to Ethereum, with Saga phones pushing mass adoption and technical capabilities promising an elegant implementation of Web3 for non-crypto natives. However, the Zeitgeist has become dominated by memecoins, which, while some claim will bring in new users to the space, BNB Chain's history tells a different story.

曾经，Solana被视为以太坊的真正竞争对手，传奇手机推动了大众采用和技术能力，有望为非crypto本地人提供优雅的Web3实施。但是，时代精神已经由Memecoins主导，尽管有些人声称将新用户带入该空间，但BNB Chain的历史讲述了一个不同的故事。

When was the last time a cutting-edge fundamentals-based project launched on BNB, spurring bullish headlines? I’d argue that a clone of pump.fun on BNB does not count.

上一次以BNB启动的基于前沿的项目是什么时候刺激看涨的头条新闻？我认为BNB上的pump.fun的克隆不算在内。

Memecoins are PVP gambling, where every trader

Memecoins是PvP赌博，每个交易者