Solana 扩大其作为收费链的影响力，月度超越比特币

该链仍然落后于以太坊，但显示了 meme 代币发行和交易的显着效果。

Solana (SOL) expanded its influence as a fee-generating chain, surpassing Bitcoin (BTC) on a monthly basis. The L1 still lags behind Ethereum (ETH) but shows the marked effect of meme token launches and trading.

Solana (SOL) 扩大了其作为收费链的影响力，月度超过了比特币 (BTC)。 L1 仍然落后于以太坊（ETH），但显示出 meme 代币的发行和交易的显着效果。

Solana was among the most actively growing networks, taking up a bigger share of generated fees. In October, Solana’s share of fee-generating networks increased to a record 38.3%, while other networks largely slowed down.

Solana 是增长最活跃的网络之一，在产生的费用中占据了更大的份额。 10 月份，Solana 在收费网络中的份额增至创纪录的 38.3%，而其他网络则大幅放缓。

Solana marked a shift in October, as the market’s attention turned to meme tokens and cheap on-chain decentralized finance (DeFi). Raydium, Jupiter DEX, and Pump.fun remained Solana’s top three applications, generating the bulk of the chain’s traffic.

Solana 标志着 10 月份的一个转变，市场的注意力转向了 meme 代币和廉价的链上去中心化金融 (DeFi)。 Raydium、Jupiter DEX 和 Pump.fun 仍然是 Solana 排名前三的应用程序，产生了该链的大部分流量。

Solana’s performance surpassed that of Bitcoin, due to the latter’s low holding and lower on-chain activity. For most of 2024, Bitcoin still produced more fees than Solana, which retained the fourth spot. The trend shifted in the past month, based on Token Terminal data.

Solana 的表现超过了比特币，因为后者的持有量较低且链上活动较低。在 2024 年的大部分时间里，比特币产生的费用仍然高于 Solana，后者仍保持第四位。根据 Token Terminal 的数据，这一趋势在过去一个月发生了转变。

In addition to the Solana L1 chain itself, Raydium and Jito are among the biggest fee producers, usually in the top s or top 10 of apps and platforms. Based on DeFi Llama data, Solana is ranked seventh in terms of 24-hour fees, while Raydium ranks at position 4 with $2.56 million in daily fees. Apps and trading hubs were among the biggest fee-generating protocols, as noted in the latest Binance monthly market insights for October.

除了 Solana L1 链本身之外，Raydium 和 Jito 也是最大的费用产生者之一，通常位于应用程序和平台的前 5 名或前 10 名中。根据 DeFi Llama 数据，Solana 在 24 小时费用方面排名第七，而 Raydium 以 256 万美元的每日费用排名第四。正如币安 10 月份最新月度市场洞察中所述，应用程序和交易中心是最大的收费协议之一。

Solana also carries a growing DeFi sector, due to the inflow of liquidity and users. Value locked remains near the high range for this cycle at $6.65 billion. From November 7 onward, Solana will also carry cbBTC, the wrapped BTC version launched by Coinbase (COIN). The new asset will add to the liquidity locked on Solana through DeFi apps, tapping the value of BTC as it rises to new highs.

由于流动性和用户的流入，Solana 还承载着不断增长的 DeFi 领域。锁定价值仍接近本周期的高位，为 66.5 亿美元。从 11 月 7 日起，Solana 还将承载 Coinbase（COIN）推出的打包 BTC 版本 cbBTC。新资产将通过 DeFi 应用增加 Solana 锁定的流动性，在 BTC 升至新高时挖掘其价值。

Ethereum also marked much lower fees compared to its record levels, due to the Dencun upgrade and a shift to L2 transactions. The chain produced 134.02 million fees in October, with minimal payments from L2, as well as negligible blob fees.

由于 Dencun 升级和向 L2 交易的转变，以太坊的费用也比其创纪录的水平低得多。该链 10 月份产生了 1.3402 亿笔费用，其中 L2 支付的费用极少，blob 费用也可以忽略不计。

Meme tokens and Raydium trades, however, are settled as L1 transactions, testing Solana’s capacity. This limitation creates a Solana economy of bribes and priority fees, which support validators through maximum extractable value (MEV) payouts.

然而，Meme 代币和 Raydium 交易作为 L1 交易进行结算，这测试了 Solana 的能力。这一限制创造了 Solana 的贿赂和优先费经济，通过最大可提取价值 (MEV) 支付来支持验证者。

Solana as a L1 operates at a loss, as most of the fees generated go toward apps, validators, and MEV providers. Fees are still a proxy metric for Solana’s economy and tokenization trends. In October, Solana paid out $323.73 million in incentives and expenses, leading to a loss of $286.99 million.

Solana 作为 L1 运营处于亏损状态，因为产生的大部分费用都流向了应用程序、验证器和 MEV 提供商。费用仍然是 Solana 经济和代币化趋势的代理指标。 10 月份，Solana 支付了 3.2373 亿美元的奖励和费用，导致亏损 2.8699 亿美元。

The best-performing cycle for SOL was in 2021, during the first Web3 and non-fungible token (NFT) boom. At that time, SOL was known to be influenced by FTX, leading to peak prices above $249.

SOL 表现最佳的周期是 2021 年，即第一次 Web3 和不可替代代币 (NFT) 繁荣时期。当时已知 SOL 受到 FTX 的影响，导致价格峰值超过 249 美元。

After the most recent Bitcoin (BTC) peak above $76,200, SOL also responded, by rising above $192. At one point, SOL traded above $194, with a premium against the U.S. dollar. Unlike other assets, SOL did not have a premium in its pairing with the Korean won, and instead traded at $188.81 on Upbit.

在比特币 (BTC) 最近突破 76,200 美元的峰值后，SOL 也做出了回应，升至 192 美元以上。 SOL 的交易价格一度高于 194 美元，兑美元存在溢价。与其他资产不同，SOL 与韩元的配对并没有溢价，在 Upbit 上的交易价格为 188.81 美元。

Open interest on SOL rose sharply from November 5 onward, reaching an all-time high. Leveraged positions rose to $3.15 billion for SOL futures, pointing to the most active season in the asset’s history.

SOL的持仓量自11月5日起大幅上升，达到历史新高。 SOL 期货的杠杆头寸升至 31.5 亿美元，标志着该资产历史上最活跃的季节。

At the levels just under $200, SOL also saw an expansion of long positions to 60% of all open interest. This ratio may invite selling to attack the long positions. SOL may be vulnerable to sell-offs from whales or fee recipients.

在略低于 200 美元的水平上，SOL 的多头头寸也扩大至所有未平仓合约的 60%。该比率可能会引发抛售以攻击多头头寸。 SOL 可能容易受到鲸鱼或收费接受者的抛售。

On the upside, SOL raised expectations of a breakout and a move to a new price range as high as $500. As one of the main platforms for crypto activity, Solana may also match other utility coins, moving closer to the range of BNB. In the short term, SOL is expected to attempt a rally to above $250, and up to $1,000 in a more extended bull market.

从好的方面来说，SOL 提高了突破并迈向高达 500 美元的新价格区间的预期。作为加密货币活动的主要平台之一，Solana 也可能与其他实用代币相匹配，向 BNB 的范围靠拢。短期内，SOL 预计将尝试反弹至 250 美元以上，并在更长期的牛市中上涨至 1,000 美元。