<p>Solana [SOL] 的链上指标显示出强劲的需求和网络使用情况。根据 AMBCrypto 的报道，活跃地址在一周内激增了 56%，每周交易量达到了 5.15 亿笔。</p>
<p>活动的激增与回归通道的突破相吻合。衍生品的持仓进一步表明市场预期将有额外的上涨。</p>
<p>CryptoQuant 的数据与这些发现一致。现货买方 CVD 显示出买方主导的阶段，而期货 CVD 也呈现出买方主导。这些指标衡量了 90 天内市场买入和卖出量的累计差异。</p>
<p>综合来看，这些都是强有力的长期看涨信号。在短期内，比特币 [BTC] 已跌破 94,500 美元的本地支撑位，但能够反弹回 93,000 美元以上。</p>
<p>Solana 已跌至 130-133 美元的本地需求区间，买方在撰写时正在捍卫该区域。</p>
<h2><strong>现货交易量降温，这对 SOL 趋势意味着什么</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Volume-Bubble-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Volume-Bubble-scaled.png"/></p>
<p>来源：CryptoQuant</p>
<p>现货交易量气泡图展示了现货交易量的大小及其变化率。绿色表示交易量减少或降温，而红色则表示过热。</p>
<p>自 11 月最后一周以来，现货交易量一直在下降。降温阶段可能标志着强劲上升趋势中的整合和本地市场底部。然而，市场条件可能已经发生变化。</p>
<p>最近几周的延长降温阶段更类似于 2022 年，而非 2024-25 年。在上一个周期结束后，交易量减少表明熊市的持续。</p>
<p>同样的情况可能正在重演。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Hodler-Net-Position-Change-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Hodler-Net-Position-Change-scaled.png"/></p>
<p>来源：Glassnode</p>
<p>另一方面，多头会高兴地注意到，自 12 月最后一周以来，HODLer 净头寸变化一直是正值。换句话说，持有者正在积累 SOL。交易所头寸变化指标也与此发现一致。</p>
<p>自 12 月中旬以来，该指标上的红色条形图显示 SOL 正在流出交易所。虽然这又是一个积累的信号，但多头应保持谨慎。</p>
<p>没有任何指标能保证价格会爆发性上涨。相反，这可能是长期投资者考虑定投的好时机。</p>
<hr/>
<h2>最后思考</h2>
<ul>
<li><em>尽管价格下跌和市场波动，Solana 网络活动的上升是一个积极的信号。</em></li>
<li><em>未能重新夺回 150 美元揭示了长期看跌的前景，尽管一些指标显示出积累。</em></li>
</ul>

GSOL

BSOL

HSDT

区块链 ETF - Amplify

2 倍做多 Solana ETF

SOLZ

<p>Solana 的链上指标显示出强劲的需求，活跃地址增加了 56%，每周交易量达到 5.15 亿笔。尽管衍生品和 CVD 数据发出了看涨信号，但现货交易量自 11 月底以来有所降温，这引发了对市场可能整合的担忧。虽然持有者正在积累 SOL，但未能重新夺回 150 美元的关口暗示出看跌的前景。投资者可以考虑定投，因为在价格下跌期间网络活动的上升是一个积极的信号，但由于交易量降温，仍需保持谨慎</p>

<p>Solana [SOL] on-chain metrics signaled strong demand and network usage. Active Addresses surged by 56% in a week, and the weekly transactions climbed to 515 million, AMBCrypto reported.</p>
<div class="lb-trans"><p>Solana [SOL] 的链上指标显示出强劲的需求和网络使用情况。根据 AMBCrypto 的报道，活跃地址在一周内激增了 56%，每周交易量达到了 5.15 亿笔。</p>
</div><p>The surge in activity coincided with a breakout from the regression channel. Derivatives positioning further signaled that the market was anticipating additional upside.</p>
<div class="lb-trans"><p>活动的激增与回归通道的突破相吻合。衍生品的持仓进一步表明市场预期将有额外的上涨。</p>
</div><p>CryptoQuant data agreed with these findings. The spot taker CVD showed a taker-buy dominant phase, and the futures CVD was also buyer dominant. The metrics measure the cumulative difference between market buy and sell volumes over 90 days.</p>
<div class="lb-trans"><p>CryptoQuant 的数据与这些发现一致。现货买方 CVD 显示出买方主导的阶段，而期货 CVD 也呈现出买方主导。这些指标衡量了 90 天内市场买入和卖出量的累计差异。</p>
</div><p>Together, they were potent bullish longer-term signals. In the short-term, Bitcoin [BTC] has fallen below the $94.5k local support, but it was able to bounce back above $93k.</p>
<div class="lb-trans"><p>综合来看，这些都是强有力的长期看涨信号。在短期内，比特币 [BTC] 已跌破 94,500 美元的本地支撑位，但能够反弹回 93,000 美元以上。</p>
</div><p>Solana had fallen to the $130-$133 local demand zone, which the buyers were defending at the time of writing.</p>
<div class="lb-trans"><p>Solana 已跌至 130-133 美元的本地需求区间，买方在撰写时正在捍卫该区域。</p>
</div><h2><strong>Spot Volume cools, what does it mean for SOL trends</strong></h2>
<div class="lb-trans"><h2><strong>现货交易量降温，这对 SOL 趋势意味着什么</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Volume-Bubble-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Volume-Bubble-scaled.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>The spot volume bubble map illustrates both the size of spot trading volumes and their rate of change. Decreased volume, or cooling, is indicated in green, while overheating is red.</p>
<div class="lb-trans"><p>现货交易量气泡图展示了现货交易量的大小及其变化率。绿色表示交易量减少或降温，而红色则表示过热。</p>
</div><p>Since the final week of November, the spot volume has been falling. A cooling phase can mark consolidation and local market bottoms during a strong uptrend. However, market conditions might have shifted.</p>
<div class="lb-trans"><p>自 11 月最后一周以来，现货交易量一直在下降。降温阶段可能标志着强劲上升趋势中的整合和本地市场底部。然而，市场条件可能已经发生变化。</p>
</div><p>The extended cooling phase in recent weeks was more similar to that of 2022 than to 2024-25. Following the end of the previous cycle, reduced trading volume signaled a continuation of the bearish market.</p>
<div class="lb-trans"><p>最近几周的延长降温阶段更类似于 2022 年，而非 2024-25 年。在上一个周期结束后，交易量减少表明熊市的持续。</p>
</div><p>The same scenario is likely repeating now.</p>
<div class="lb-trans"><p>同样的情况可能正在重演。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Hodler-Net-Position-Change-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Hodler-Net-Position-Change-scaled.png"/></p>
<p>Source: Glassnode</p>
<div class="lb-trans"><p>来源：Glassnode</p>
</div><p>On the other hand, bulls will be thrilled to note that the HODLer net position change has been positive since the final week of December. In other words, holders were accumulating SOL. The exchange position change metric agreed with this finding.</p>
<div class="lb-trans"><p>另一方面，多头会高兴地注意到，自 12 月最后一周以来，HODLer 净头寸变化一直是正值。换句话说，持有者正在积累 SOL。交易所头寸变化指标也与此发现一致。</p>
</div><p>The red bars on the metric since mid-December showed that SOL was flowing out of exchanges. While it was another signal of accumulation, bulls should be careful.</p>
<div class="lb-trans"><p>自 12 月中旬以来，该指标上的红色条形图显示 SOL 正在流出交易所。虽然这又是一个积累的信号，但多头应保持谨慎。</p>
</div><p>Neither metric guarantees an explosive price rally. Rather, it might be a good time for long-term investors to consider dollar-cost averaging into a position.</p>
<div class="lb-trans"><p>没有任何指标能保证价格会爆发性上涨。相反，这可能是长期投资者考虑定投的好时机。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最后思考</h2>
</div><ul>
<li><em>The uptick in Solana network activity despite the price dip and market-wide volatility was a positive sign.</em></li>
<li><em>The inability to reclaim $150 revealed a bearish longer-term outlook, even though some metrics showed accumulation.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>尽管价格下跌和市场波动，Solana 网络活动的上升是一个积极的信号。</em></li>
<li><em>未能重新夺回 150 美元揭示了长期看跌的前景，尽管一些指标显示出积累。</em></li>
</ul>
</div>

Solana metrics turn bullish – But is cooling volume a red flag?

Amb Crypto

Grayscale Solana Staking ETF

Bitwise Solana Staking ETF

Solana

Solana ETF

Solana 的指标转为看涨——但成交量的下降是否是一个危险信号？