XLM、UNI 和 AAVE 代币激增

截至撰写本文时，XLM 交易价格为 0.5066 美元，过去 24 小时内上涨近 16%，过去一周上涨超过 103%。

Stellar Lumens (XLM), Uniswap (UNI) and Aave (AAVE) are among the top cryptocurrencies that have recorded double-digit gains over the last 24 hours.

Stellar Lumens (XLM)、Uniswap (UNI) 和 Aave (AAVE) 是过去 24 小时内录得两位数涨幅的顶级加密货币。

At the time of writing, XLM traded at $0.5066, up nearly 16% over the last 24 hours and over 103% in the past week. Stellar had recorded more than $4.6 billion in 24-hour volume and its market cap stood at $14.9 billion, according to CoinGecko data.

截至撰写本文时，XLM 交易价格为 0.5066 美元，过去 24 小时内上涨近 16%，过去一周上涨超过 103%。根据 CoinGecko 的数据，Stellar 24 小时交易量超过 46 亿美元，市值为 149 亿美元。

UNI price hovered around $12.64, up 15% over the last 24 hours and 39% this past week. The Uniswap market was $7.5 billion and the trading volume stood at over $1 billion.

UNI 价格徘徊在 12.64 美元左右，过去 24 小时内上涨 15%，上周上涨 39%。 Uniswap 市场规模为 75 亿美元，交易量超过 10 亿美元。

Aave’s price also rode bullish momentum over the last month to trade above $198. On Wednesday, the AAVE token reached intraday highs of $195 and looking to break above $200. AAVE was up 12% in the past 24 hours and 20% this past week.

上个月 Aave 的价格也保持看涨势头，交易价格超过 198 美元。周三，AAVE 代币触及 195 美元的盘中高点，并有望突破 200 美元。 AAVE 在过去 24 小时内上涨了 12%，上周上涨了 20%。

Other top altcoins, including XRP, Cardano (ADA) and Avalanche (AVAX) recorded double-digit gains, with XRP looking to strengthen above $1.40.

其他顶级山寨币，包括 XRP、Cardano (ADA) 和 Avalanche (AVAX) 均录得两位数涨幅，其中 XRP 有望升至 1.40 美元以上。

But what’s delaying the altcoin season?

但是什么推迟了山寨币季节呢？

While major altcoins and meme coins are recording decent gains, analysts say the altcoin season is yet to arrive.

尽管主要的山寨币和模因币都录得了可观的涨幅，但分析师表示，山寨币季节尚未到来。

Commenting on altcoin performance during this cycle compared to Bitcoin’s (BTC) rip to near $100,000 in the last cycle, CryptoQuant CEO Ki Young Ju said things are different this time around.

CryptoQuant 首席执行官 Ki Young Ju 在评论本周期中山寨币的表现时表示，与上一个周期中比特币 (BTC) 飙升至近 10 万美元相比，这次情况有所不同。

“Compared to the last cycle, the nature of capital flowing into Bitcoin has shifted. The current Bitcoin rally is primarily driven by demand from institutional investors and spot ETFs. Unlike crypto exchange users, institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins. Moreover, as they operate outside of crypto exchanges, asset rotation becomes inherently less feasible,” the analyst noted in a commentary on Substack.

“与上一个周期相比，流入比特币的资本性质已经发生了变化。当前比特币的上涨主要是由机构投资者和现货 ETF 的需求推动的。与加密货币交易所用户不同，机构投资者和 ETF 买家无意将其资产从比特币转向山寨币。此外，由于它们在加密货币交易所之外运营，资产轮换本质上变得不太可行，”该分析师在 Substack 的评论中指出。

However, the outlook is more accurate for small cap altcoins, which might not attract institutional investors through ETFs or other investment vehicles.

然而，小盘山寨币的前景更为准确，它可能无法通过 ETF 或其他投资工具吸引机构投资者。

“Minor altcoins still rely on crypto exchange users to buy them,” Young Ju added.

“小型山寨币仍然依赖加密货币交易所用户购买，”Young Ju 补充道。

This is what is delaying the alt season, according to the CryptoQuant CEO, pointing to a reduced influx of fresh capital from new exchange users.

CryptoQuant 首席执行官表示，这就是山寨币季节被推迟的原因，他指出新交易所用户流入的新资本减少了。

“If Bitcoin retail FOMO reignites, exchange user activity might increase, potentially setting the stage for an altcoin season. However, Bitcoin’s future growth is expected to come from ETFs, institutions, and maybe govts, rather than retail traders on crypto exchanges,” he said.

“如果比特币散户 FOMO 重新燃起，交易所用户活动可能会增加，可能为山寨币季节奠定基础。然而，比特币未来的增长预计将来自 ETF、机构，或许还有政府，而不是加密货币交易所的零售交易员。”