Solana（Sol）的历史最高点为295美元，然后下降了60％

索拉纳（Solana）在1月中旬达到了295美元的历史最高点，就在特朗普总统推出了他的成员$特朗普时。

Solana (CRYPTO: SOL) has slid 60% from its all-time highs of $295 in mid-January, just as President Trump launched his memecoin, $Trump. On Tuesday, Solana was trading at $111.20.

索拉纳（Crypto：Sol）在1月中旬的历史最高售价为295美元，就在特朗普总统推出了他的成员$ trump时，已滑出60％。周二，Solana的交易价格为111.20美元。

What Happened: One of the key drivers of Solana's meteoric rise was the retail hype surrounding memecoins, especially following the release of BONK in December 2022. The meme coin sparked massive interest and drove a surge in decentralized exchange volumes. On Jan. 17, the day the $Trump token launched, Solana saw a peak of $36 billion in DEX volume.

发生的事情是：索拉纳（Solana）迅速上升的主要驱动力之一是围绕Memecoins的零售炒作，尤其是在2022年12月释放Bonk之后。MemeCoin引起了巨大的兴趣，并引起了分散交易量的激增。 1月17日，$特朗普的代币推出的那天，索拉纳（Solana）的DEX量达到了360亿美元的峰值。

However, that momentum has since faded. As of Tuesday, daily DEX volume on Solana has dropped significantly, averaging just around $1.5 billion per day. This signals a slowdown in the hype cycle that once fueled Solana's growth.

但是，这种势头已经消失了。截至周二，Solana的每日DEX数量大大下降，平均每天仅15亿美元。这表明曾经助长了索拉纳的增长的炒作周期的放缓。

With prices now stabilizing well below their highs, Solana holders need to understand what this trend means for the network.

随着价格现在稳定在其最高点以下，索拉纳持有人需要了解这种趋势对网络的含义。

Solana: A High Beta Asset With High Risk, High RewardSolana is a high beta asset, meaning it tends to move more aggressively than the broader crypto market. When prices are rising, Solana often outpaces other top tokens, delivering outsized gains. But the flip side is just as true: when sentiment shifts or liquidity dries up, Solana can experience sharper drawdowns.

SOLANA：高风险高的高β资产，高Rewardsolana是一项很高的Beta资产，这意味着它比更广泛的加密市场更积极地移动。当价格上涨时，Solana通常会超过其他顶级令牌，从而带来超大收益。但是，另一面同样是真实的：当情绪变化或流动性变干时，索拉纳会体验到更尖锐的缩水。

This volatility is a double-edged sword for investors. While it helped push Solana from under $10 to nearly $300 in just over a year, it also exposes holders to rapid downside when momentum fades. Much of Solana's recent correction can be attributed to the cooling of speculative activity, especially as memecoin trading — one of the major catalysts for its rise — has slowed dramatically.

对于投资者来说，这种波动性是一把双刃剑。虽然它在一年多以上帮助Solana从10美元降至近300美元，但当动量消失时，它也使持有人迅速下跌。 Solana最近的大部分纠正措施可以归因于投机活动的冷却，尤其是由于Memecoin Trading（崛起的主要催化剂之一）急剧放缓。

For instance, on Jan. 17, at the height of the $Trump hype, around $36 billion flowed through Solana's DEXes in a single day, driven largely by retail traders engaging in brisk trades of the new memecoin. In contrast, on Tuesday, July 11, the seven-day average for DEX volume was just $1.5 billion per day.

例如，在1月17日，特朗普炒作的高峰期，大约360亿美元在一天之内通过了索拉纳（Solana）的德克斯（Dexes），这主要是由从事新纪念品的零售贸易商造成的。相比之下，7月11日星期二，DEX量的7天平均每天仅15亿美元。

Current Fundamentals: Weak Signals for Solana's GrowthSolana's fundamentals are currently lacking, despite its fast speeds and low fees, which make it an ideal platform for DeFi applications. The network's decentralized exchange volume has seen a sharp decline, dropping from a peak of $36 billion in January to just $1.5 billion per day as of Tuesday. This signals the fading retail-driven hype, particularly from memecoins like BONK, $Trump, and others, which once fueled much of the activity on the blockchain.

当前的基本面：尽管速度快且费用低，但目前缺乏Solana增长的基本面信号较弱，这使其成为Defi应用程序的理想平台。该网络的分散交换量的下降急剧下降，从一月份的360亿美元下降到截至周二的每天15亿美元。这标志着淡出零售驱动的炒作，尤其是来自像Bonk，$ Trump和其他人等成人，这曾经助长了区块链上的大部分活动。

Additionally, Solana's Fully Diluted Valuation stands at $66.712 billion, while its Total Value Locked, including staked governance tokens, is only $7.79 billion. This gives a FDV/TVL ratio of approximately 8.6, which reveals a significant disconnect between the network's market valuation and its actual on-chain usage. Previously, this ratio was higher during periods of greater hype, but as the market has cooled and activity has decreased, the gap between the FDV and TVL has tightened. A lower ratio is generally preferred, as it signals a more sustainable market valuation relative to the assets locked within the network.

此外，Solana的完全稀释的估值为667.12亿美元，而其总价值锁定（包括固定治理令牌）仅为77.9亿美元。这给出了大约8.6的FDV/TVL比率，这揭示了网络的市场估值与其实际链使用之间的显着断开连接。以前，在更大的炒作期间，该比率较高，但是随着市场的冷却和活动减少，FDV和TVL之间的差距也随之而来。通常优选较低的比率，因为它标志着与网络中锁定的资产相比，更可持续的市场估值。

Solana: A Network in Search of Consistent Use CasesDespite these challenges, Solana still has significant potential. Its fast transaction speeds and low fees make it an ideal platform for scalable DeFi applications, and its infrastructure remains strong. However, the lack of sustained, organic use outside of speculative events like memecoins has kept the network from realizing its true value.

Solana：一个网络寻找一致的用例，尽管存在这些挑战，但Solana仍然具有巨大的潜力。它的快速交易速度和低费用使其成为可扩展Defi应用程序的理想平台，并且其基础架构仍然很强。但是，在诸如Memecoins之类的投机事件之外，缺乏持续的有机使用使网络无法实现其真实价值。

For Solana to truly take off, it needs to attract more consistent use cases within the DeFi space and beyond. If metrics such as DEX volume and on-chain activity improve, Solana could regain momentum. But for now, its weak fundamentals are reflected in the current price drop, showing that without strong, ongoing usage, its market performance will remain volatile.

为了使Solana真正起飞，它需要在Defi空间及其他地区吸引更一致的用例。如果诸如DEX量和链链活性等指标会有所改善，Solana可以恢复动量。但是就目前而言，其基本面反映在当前的价格下跌中，表明如果没有强劲的，持续的用法，其市场绩效将保持波动。

See More: Top 5 DeFi Tokens To Watch In 2023

查看更多：2023年观看的前5个Defi令牌