在CME上推出的Solana（Sol）期货，初始接收有限

与比特币（BTC）和以太坊（ETH）期货的盛大介绍不同，索拉纳（Solana）的首次亮相在很大程度上没有引起人们的注意。

The Chicago Mercantile Exchange (CME) quietly introduced Solana (SOL) futures on Monday, a stark contrast to the grand unveilings of Bitcoin (BTC) and Ethereum (ETH) futures.

芝加哥商业交易所（CME）周一悄悄地推出了Solana（Sol）期货，与比特币（BTC）和以太坊（ETH）期货的宏伟揭幕形成鲜明对比。

While the first day of trading saw $12.3 million in notional volume and left $7.8 million in open interest, these figures pale in comparison to BTC and ETH at their launches. As K33 Research's latest report highlights, Bitcoin futures, which debuted in December 2017, notched a staggering $102.7 million in first-day trading volume, accompanied by open interest of $20.9 million.

虽然交易的第一天的名义量达到了1,230万美元，并且在开放式上留下了780万美元的公开利息，但与BTC和ETH的发射相比，这些数字苍白。正如K33 Research的最新报告所强调的那样，比特币期货于2017年12月首次亮相，在第一天的交易量中获得了惊人的1.027亿美元，并伴随着2090万美元的开放兴趣。

Later, in February 2021, Ethereum futures stepped onto the scene with $31 million in volume and $20 million in open interest.

后来，2021年2月，以太坊期货以3100万美元的数量和2000万美元的开放利息登上了现场。

Now, as Solana's futures enter the market, they do so amid a bearish crypto market, further impacted by the decline of memecoins and recent advertising missteps by Solana. This is reflected in the SOL token itself dropping 10% from prior weekend highs, compared to Bitcoin and Ethereum's more modest declines of 4.5% and 3.8%, respectively.

现在，随着索拉纳（Solana）的期货进入市场，在看跌的加密市场中，他们这样做了，这进一步受到了索拉纳（Solana）的成员和最近的广告失误的影响。与比特币和以太坊更适度的下降4.5％和3.8％相比，SOL令牌本身的反映在上一周的高点上下降了10％。

However, adjusting for market capitalization, the initial reception of Solana's futures aligns more closely with BTC and ETH's launches. K33 analysts noted that Solana's market cap was roughly $65 billion at the time of launching its futures, dwarfing Bitcoin's $318 billion and Ethereum's $200 billion during their respective debuts.

但是，调整市值，索拉纳期货的初步接受与BTC和ETH的发射更加一致。 K33分析师指出，在推出其期货时，Solana的市值约为650亿美元，矮人比特币的3180亿美元和以太坊在各自的首次亮相期间的2000亿美元。

Moreover, Solana's timing for launching its futures product faced headwinds due to prevailing market conditions.

此外，由于市场状况，索拉纳（Solana）推出其期货产品的时机面临逆风。

Historical precedents show that Bitcoin's CME futures launched amid a peak speculative phase, leading to immediate demand of $700 million for the futures product. In contrast, Solana's launch occurs in a risk-off environment, lacking significant catalysts or hype to spur demand.

历史先例表明，比特币的CME期货在峰值投机阶段推出，导致期货产品的7亿美元需求。相比之下，Solana的发射发生在风险环境中，缺乏大量的催化剂或刺激了刺激需求。

“The enthusiasm for this new CME product launch is significant as it arrives at a time when major liquid funds are looking for ways to manage their Solana exposure, especially given the lack of futures-based exchange-traded products (ETFs) focusing on Solana,” said derivatives trader Josh Lim, who recently started Arbelos Markets—acquired by prime broker FalconX.

衍生品交易员乔什·林（Josh Lim）表示：“这种新的CME产品推出的热情非常重要，因为它到达了主要的液体基金正在寻找管理索拉纳曝光的方法，尤其是考虑到缺乏基于期货的交易所买卖产品（ETFS），专注于Solana。”

FalconX executed the first SOL futures block trade on CME with financial services firm StoneX, Lim confirmed, adding that he's optimistic as the CME product provides an opportunity for liquid funds to manage their SOL holdings.

Falconx证实，Falconx与金融服务公司Stonex执行了CME上的CME贸易，并补充说，他很乐观，因为CME产品为液体资金提供了管理其SOL Holdings的机会。

“We're really going to see what happens when a token with liquid futures rolls over in a big way and there's no ETF to absorb it. Is the market going to create demand for it?” Lim questioned in a Telegram message.

“我们真的会看到当液体期货的代币大量滚滚而来，没有ETF吸收它。 Lim在电报消息中提问。

When asked about hedge funds' interest in Solana futures, Lim replied in the affirmative, adding that they'll be able to access it through these new instruments, something they've been requesting for a long time.

当被问及对冲基金对Solana Futures的兴趣时，Lim回答说，他们将能够通过这些新工具来访问它，这是他们很长时间以来一直要求的。

“People are missing the big picture on the new CME products. There's a narrative that we're in a bear market and no one cares about altcoins. But we're also in an environment where we have a new generation of liquid funds that prefer futures to ETFs and have a mandate for managing Solana exposure,” Lim explained.

“人们在新的CME产品上缺少大量的叙述，我们在熊市中，没有人关心Altcoins，但我们也有一个新一代的液体资金，他们喜欢期货，而不是ETF的授权，并且具有管理Solana曝光的任务。”