索拉纳成本基础分布揭示了供应最集中的位置

在X上的新帖子中，GlassNode讨论了Solana的UTXO实现价格分布（URPD）。 URPD是一个指标，基本上可以告诉我们购买了多少溶胶供应的价格水平。

Analytics firm Glassnode has revealed the Solana (SOL) price levels that could be important to watch, based on on-chain accumulation data. In a new post on X, the firm is discussing the UTXO Realized Price Distribution (URPD) of the world's ninth-largest cryptocurrency.

分析公司GlassNode揭示了基于链积累数据，索拉纳（SOL）价格水平可能很重要。在X上的新帖子中，该公司正在讨论UTXO实现的世界第九大加密货币的价格分配（URPD）。

The URPD is an indicator that tells us how much of the SOL supply was purchased at which price levels. Naturally, the metric uses the last transaction price of any token in circulation as its cost basis.

URPD是一个指标，它告诉我们在价格水平上购买了多少溶胶供应。自然，该指标将流通中任何令牌的最后交易价格用作其成本基础。

First, here is how the URPD looked when Solana set its new all-time high (ATH) back in January:

首先，这是索拉纳（Solana）在一月份设置新的历史最高高（ATH）时的URPD的样子：

Image Credit: Glassnode

图片来源：玻璃节

At the price levels closer to the new ATH, supply was quite thin, meaning not many coins changed hands there. In on-chain analysis, the potential of any level to act as support or resistance is measured in terms of the amount of supply that it hosts.

在接近新ATH的价格水平下，供应非常薄，这意味着没有多少硬币易手。在链分析中，根据其托管的供应量来衡量任何级别作为支持或阻力的潜力。

This means that levels that have a large cluster around them on the URPD are the ones of importance to the asset.

这意味着在URPD上围绕它们的群集的水平对资产非常重要。

As for why this is so, the answer lies in investor psychology: holders are sensitive to retests of their cost basis. Whenever the price touches a large cost basis cluster, the investors who are holding these coins may respond by making some panic moves.

至于原因，答案在于投资者心理学：持有人对重新测试成本基础敏感。每当价格碰到大型成本基础集群时，持有这些硬币的投资者都可以通过做出一些恐慌行动做出回应。

These moves can tend toward buying if the retest is happening from above, as investors may want to defend their profit-loss boundary.

如果投资者可能希望捍卫其利润损失的边界，则这些举动可能会倾向于购买。

In retests happening from below, however, the traders could react by selling instead, as they may seek to exit at their break-even.

但是，在从下面发生的重新测试中，交易者可以通过出售而做出反应，因为他们可能会试图退出他们的收支平衡。

When Solana reached its ATH, there was a lack of support nearby. This may be why the asset ended up falling into the cluster that did carry a significant amount of supply.

当Solana到达ATH时，附近缺乏支持。这可能就是为什么资产最终掉入确实携带大量供应的集群的原因。

Here is how the URPD has changed following the price drawdown:

这是价格下跌后的URPD发生变化的方式：

Image Credit: Glassnode

图片来源：玻璃节

If Solana continues its downtrend, it may have to end up relying on the freshly grown $112 level. In January, this level hosted the cost basis of 4 million tokens, but today, the figure has grown to 9.7 million, equal to 1.67% of the entire supply.

如果索拉纳（Solana）继续下降趋势，则可能必须依靠新鲜的$ 112水平。一月份，该级别的成本基础为400万个令牌，但如今，该数字已增长到970万，等于整个供应量的1.67％。

Beyond this level, Glassnode notes, “$94, $97, and $100 collectively hold nearly 21M SOL (3.5% of supply). In the scenario that these support levels fail, Solana may find itself in deep trouble, as there aren't any major supply clusters until $53.”

GlassNode指出，“超过此级别，“ 94美元，97美元和100美元，共同持有近2100万SOL（供应量的3.5％）。在这些支持水平失败的情况下，Solana可能会陷入困境，因为直到53美元，才有任何重大供应群。”

In terms of the levels above, the $135 and $144 levels stand out, as they hold the acquisition level of 26.6 million and 27 million coins, respectively. These levels could act as major obstacles in Solana's recovery.

就上述水平而言，$ 135和144美元的水平脱颖而出，因为它们的收购水平分别为2660万和2700万硬币。这些水平可能是Solana恢复的主要障碍。