<p>Solana [SOL] 的鏈上指標顯示出強勁的需求和網絡使用情況。根據 AMBCrypto 的報道，活躍地址在一週內激增了 56%，每週交易量達到了 5.15 億筆。</p>
<p>活動的激增與迴歸通道的突破相吻合。衍生品的持倉進一步表明市場預期將有額外的上漲。</p>
<p>CryptoQuant 的數據與這些發現一致。現貨買方 CVD 顯示出買方主導的階段，而期貨 CVD 也呈現出買方主導。這些指標衡量了 90 天內市場買入和賣出量的累計差異。</p>
<p>綜合來看，這些都是強有力的長期看漲信號。在短期內，比特幣 [BTC] 已跌破 94,500 美元的本地支撐位，但能夠反彈回 93,000 美元以上。</p>
<p>Solana 已跌至 130-133 美元的本地需求區間，買方在撰寫時正在捍衞該區域。</p>
<h2><strong>現貨交易量降温，這對 SOL 趨勢意味着什麼</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>來源：CryptoQuant</p>
<p>現貨交易量氣泡圖展示了現貨交易量的大小及其變化率。綠色表示交易量減少或降温，而紅色則表示過熱。</p>
<p>自 11 月最後一週以來，現貨交易量一直在下降。降温階段可能標誌着強勁上升趨勢中的整合和本地市場底部。然而，市場條件可能已經發生變化。</p>
<p>最近幾周的延長降温階段更類似於 2022 年，而非 2024-25 年。在上一個週期結束後，交易量減少表明熊市的持續。</p>
<p>同樣的情況可能正在重演。</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>來源：Glassnode</p>
<p>另一方面，多頭會高興地注意到，自 12 月最後一週以來，HODLer 淨頭寸變化一直是正值。換句話説，持有者正在積累 SOL。交易所頭寸變化指標也與此發現一致。</p>
<p>自 12 月中旬以來，該指標上的紅色條形圖顯示 SOL 正在流出交易所。雖然這又是一個積累的信號，但多頭應保持謹慎。</p>
<p>沒有任何指標能保證價格會爆發性上漲。相反，這可能是長期投資者考慮定投的好時機。</p>
<hr/>
<h2>最後思考</h2>
<ul>
<li><em>儘管價格下跌和市場波動，Solana 網絡活動的上升是一個積極的信號。</em></li>
<li><em>未能重新奪回 150 美元揭示了長期看跌的前景，儘管一些指標顯示出積累。</em></li>
</ul>

GSOL

BSOL

HSDT

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SOLZ

<p>Solana 的鏈上指標顯示出強勁的需求，活躍地址增加了 56%，每週交易量達到 5.15 億筆。儘管衍生品和 CVD 數據發出了看漲信號，但現貨交易量自 11 月底以來有所降温，這引發了對市場可能整合的擔憂。雖然持有者正在積累 SOL，但未能重新奪回 150 美元的關口暗示出看跌的前景。投資者可以考慮定投，因為在價格下跌期間網絡活動的上升是一個積極的信號，但由於交易量降温，仍需保持謹慎</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] 的鏈上指標顯示出強勁的需求和網絡使用情況。根據 AMBCrypto 的報道，活躍地址在一週內激增了 56%，每週交易量達到了 5.15 億筆。</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>活動的激增與迴歸通道的突破相吻合。衍生品的持倉進一步表明市場預期將有額外的上漲。</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 的數據與這些發現一致。現貨買方 CVD 顯示出買方主導的階段，而期貨 CVD 也呈現出買方主導。這些指標衡量了 90 天內市場買入和賣出量的累計差異。</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>綜合來看，這些都是強有力的長期看漲信號。在短期內，比特幣 [BTC] 已跌破 94,500 美元的本地支撐位，但能夠反彈回 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 美元的本地需求區間，買方在撰寫時正在捍衞該區域。</p>
</div><h2><strong>Spot Volume cools, what does it mean for SOL trends</strong></h2>
<div class="lb-trans"><h2><strong>現貨交易量降温，這對 SOL 趨勢意味着什麼</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>來源：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>現貨交易量氣泡圖展示了現貨交易量的大小及其變化率。綠色表示交易量減少或降温，而紅色則表示過熱。</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 月最後一週以來，現貨交易量一直在下降。降温階段可能標誌着強勁上升趨勢中的整合和本地市場底部。然而，市場條件可能已經發生變化。</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>最近幾周的延長降温階段更類似於 2022 年，而非 2024-25 年。在上一個週期結束後，交易量減少表明熊市的持續。</p>
</div><p>The same scenario is likely repeating now.</p>
<div class="lb-trans"><p>同樣的情況可能正在重演。</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>來源：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，多頭會高興地注意到，自 12 月最後一週以來，HODLer 淨頭寸變化一直是正值。換句話説，持有者正在積累 SOL。交易所頭寸變化指標也與此發現一致。</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 月中旬以來，該指標上的紅色條形圖顯示 SOL 正在流出交易所。雖然這又是一個積累的信號，但多頭應保持謹慎。</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>沒有任何指標能保證價格會爆發性上漲。相反，這可能是長期投資者考慮定投的好時機。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最後思考</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>儘管價格下跌和市場波動，Solana 網絡活動的上升是一個積極的信號。</em></li>
<li><em>未能重新奪回 150 美元揭示了長期看跌的前景，儘管一些指標顯示出積累。</em></li>
</ul>
</div>

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

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Solana 的指標轉為看漲——但成交量的下降是否是一個危險信號？