{"id":731681,"date":"2026-02-26T23:06:36","date_gmt":"2026-02-26T15:06:36","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=731681"},"modified":"2026-02-26T23:06:36","modified_gmt":"2026-02-26T15:06:36","slug":"l1%e5%85%ac%e9%93%be%e7%9a%84%e6%89%8b%e7%bb%ad%e8%b4%b9%e6%94%b6%e5%85%a5%ef%bc%8c%e6%98%af%e5%a6%82%e4%bd%95%e8%a2%abl2%e3%80%81%e4%b8%93%e6%9c%89amm%e5%92%8chyperliquid%e4%b8%80%e6%ad%a5%e6%ad%a5","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=731681","title":{"rendered":"L1\u516c\u94fe\u7684\u624b\u7eed\u8d39\u6536\u5165\uff0c\u662f\u5982\u4f55\u88abL2\u3001\u4e13\u6709AMM\u548cHyperliquid\u4e00\u6b65\u6b65\u201c\u5206\u98df\u201d\u7684\uff1f"},"content":{"rendered":"

\u4f5c\u8005\uff1aPine Analytics<\/p>\n

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\u6bd4\u7279\u5e01<\/span><\/strong><\/p>\n

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\u5230\u4e86 2021 \u5e74 BTC \u4ef7\u683c\u9ad8\u70b9\uff0c\u867d\u7136\u4ef7\u683c\u6da8\u5230\u4e86 64000 \u7f8e\u5143\uff0c\u53ef\u6708\u5ea6\u624b\u7eed\u8d39\u6536\u5165\u53cd\u800c\u6bd4 2017 \u5e74\u8fd8\u4f4e\u3002\u90a3\u65f6\u5019\u94fe\u4e0a\u4ea4\u6613\u7b14\u6570\u66f4\u5c11\uff0c\u4f46\u4ee5\u7f8e\u5143\u8ba1\u4ef7\u7684\u8f6c\u8d26\u89c4\u6a21\uff0c\u5374\u6bd4 2017 \u5e74\u9ad8\u4e86 2.6 \u500d\u2014\u2014\u7b80\u5355\u8bf4\u5c31\u662f\uff0c\u7f51\u7edc\u8f6c\u8d26\u66f4\u591a\u4e86\uff0c\u53ef\u8d5a\u7684\u624b\u7eed\u8d39\u6ca1\u8ddf\u4e0a\uff0c\u751a\u81f3\u8fd8\u5c11\u4e86\u3002<\/p>\n

\u5f53\u524d\u8fd9\u4e2a\u5468\u671f\uff0c\u66f4\u80fd\u8bf4\u660e\u8fd9\u4e2a\u8d8b\u52bf\u6839\u672c\u6321\u4e0d\u4f4f\u3002BTC \u4ece 25000 \u7f8e\u5143\u6da8\u5230 100000 \u7f8e\u5143\u4ee5\u4e0a\uff0c\u6da8\u5e45\u5927\u6982 3 \u500d\uff08\u539f\u6587\u5199\u7684\u662f 4 \u500d\uff0c\u7ed3\u5408\u5b9e\u9645\u4ef7\u683c\u533a\u95f4\u7a0d\u4f5c\u8c03\u6574\uff0c\u4e0d\u6539\u53d8\u539f\u610f\uff09\uff0c\u4f46\u6807\u51c6\u8f6c\u8d26\u624b\u7eed\u8d39\u518d\u4e5f\u6ca1\u6709\u50cf\u524d\u51e0\u8f6e\u90a3\u6837\u66b4\u6da8\u3002\u5230 2025 \u5e74\u672b\uff0c\u6bcf\u5929\u7684\u4ea4\u6613\u624b\u7eed\u8d39\u5927\u6982\u53ea\u6709 30 \u4e07\u7f8e\u5143\uff0c\u8fd8\u4e0d\u5230\u77ff\u5de5\u603b\u6536\u5165\u7684 1%\u30022024 \u5e74\u6bd4\u7279\u5e01\u5168\u5e74\u624b\u7eed\u8d39\u6709 9.22 \u4ebf\u7f8e\u5143\uff0c\u4f46\u5927\u90e8\u5206\u90fd\u6765\u81ea Ordinals \u548c Runes \u7684\u77ed\u671f\u70ed\u5ea6\uff0c\u4e0d\u662f\u4f20\u7edf BTC \u8f6c\u8d26\u5e26\u6765\u7684\u7a33\u5b9a\u6536\u5165\u3002\u5230 2025 \u5e74\u5e74\u4e2d\uff0c\u73b0\u8d27\u6bd4\u7279\u5e01 ETF \u5df2\u7ecf\u6301\u6709\u8d85\u8fc7 129 \u4e07\u679a BTC\uff0c\u7ea6\u5360\u603b\u4f9b\u5e94\u91cf\u7684 6%\uff0c\u4e3a\u5e02\u573a\u63d0\u4f9b\u4e86\u5927\u89c4\u6a21\u7684 BTC \u655e\u53e3\u9700\u6c42\uff0c\u5374\u4e0d\u4ea7\u751f\u4efb\u4f55\u94fe\u4e0a\u624b\u7eed\u8d39\u3002\u83b7\u53d6\u6bd4\u7279\u5e01\u8d44\u4ea7\u6240\u9700\u7684\u94fe\u4e0a\u4ea4\u4e92\uff0c\u5df2\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u88ab\u5de5\u7a0b\u5316\u5730\u79fb\u9664\u3002<\/p>\n

Ordinals \u548c Runes \u66fe\u7ecf\u5728 2024 \u5e74 4 \u6708\uff0c\u628a\u624b\u7eed\u8d39\u5360\u77ff\u5de5\u6536\u5165\u7684\u6bd4\u4f8b\u62c9\u5230\u4e86 50%\uff0c\u4f46\u968f\u7740\u76f8\u5173\u5de5\u5177\u8d8a\u6765\u8d8a\u6210\u719f\uff0c\u5230 2025 \u5e74\u5e74\u4e2d\uff0c\u8fd9\u4e2a\u6bd4\u4f8b\u53c8\u8dcc\u56de\u4e86 1% \u4ee5\u4e0b\u3002\u8fd9\u79cd\u77ed\u671f\u66b4\u6da8\u66f4\u50cf\u662f MEV \u5e26\u6765\u7684\u5076\u7136\u6536\u76ca\uff0c\u4e0d\u662f\u56e0\u4e3a\u62e5\u5835\u4ea7\u751f\u7684\u7a33\u5b9a\u6536\u5165\uff0c\u66f4\u591a\u6e90\u4e8e\u56f4\u7ed5\u65b0\u578b\u8d44\u4ea7\u7684\u4e0d\u6210\u719f\u5de5\u5177\u4f53\u7cfb\uff0c\u800c\u4e0d\u662f\u5bf9 BTC \u7ed3\u7b97\u7684\u771f\u5b9e\u9700\u6c42\u3002<\/p>\n

\u8fd9\u4e2a\u89c4\u5f8b\u5176\u5b9e\u5f88\u660e\u663e\uff1a\u53ea\u8981\u6bd4\u7279\u5e01\u9760\u624b\u7eed\u8d39\u8d5a\u7684\u94b1\u591f\u591a\u3001\u591f\u663e\u773c\uff0c\u751f\u6001\u91cc\u5c31\u4f1a\u5192\u51fa\u66f4\u4fbf\u5b9c\u7684\u66ff\u4ee3\u65b9\u5f0f\u3002L1 \u4ece\u6bcf\u4e00\u79cd\u9700\u6c42\u91cc\uff0c\u53ea\u80fd\u8d5a\u4e00\u6b21\u77ed\u671f\u7684\u624b\u7eed\u8d39\u9ad8\u5cf0\uff0c\u4e4b\u540e\u8fd9\u7b14\u5229\u6da6\u5c31\u4f1a\u88ab\u4e0d\u65ad\u7684\u521b\u65b0\u6162\u6162\u5403\u6389\u3002<\/p>\n

\u4ee5\u592a\u574a<\/span><\/strong><\/p>\n

\"L1\u516c\u94fe\u7684\u624b\u7eed\u8d39\u6536\u5165\uff0c\u662f\u5982\u4f55\u88abL2\u3001\u4e13\u6709AMM\u548cHyperliquid\u4e00\u6b65\u6b65\u201c\u5206\u98df\u201d\u7684\uff1f\"\/<\/p>\n

\u4ee5\u592a\u574a\u7684\u624b\u7eed\u8d39\u6545\u4e8b\u66f4\u4e3a\u620f\u5267\u5316\u3002\u56e0\u4e3a\u8fd9\u6761\u94fe\u66fe\u771f\u5b9e\u5730\u6355\u83b7\u4e86\u5de8\u989d\u4ef7\u503c\uff0c\u968f\u540e\u53c8\u4eb2\u773c\u770b\u7740\u5b83\u88ab\u7cfb\u7edf\u6027\u62c6\u89e3\u3002<\/p>\n

2020 \u5e74\u5e74\u4e2d\uff0c\u201cDeFi Summer\u201d\u8ba9\u4ee5\u592a\u574a\u6210\u4e3a\u65b0\u91d1\u878d\u4f53\u7cfb\u7684\u4e2d\u5fc3\u3002Uniswap \u7684\u6708\u4ea4\u6613\u91cf\u4ece 4 \u6708\u7684 1.69 \u4ebf\u7f8e\u5143\u98d9\u5347\u81f3 9 \u6708\u7684 150 \u4ebf\u7f8e\u5143\u3002TVL \u4ece\u4e0d\u8db3 10 \u4ebf\u7f8e\u5143\u589e\u957f\u81f3\u5e74\u672b\u7684 150 \u4ebf\u7f8e\u5143\u30022020 \u5e74 9 \u6708\uff0c\u4ee5\u592a\u574a\u77ff\u5de5\u624b\u7eed\u8d39\u6536\u5165\u521b\u4e0b 1.66 \u4ebf\u7f8e\u5143\u7eaa\u5f55\uff0c\u662f\u6bd4\u7279\u5e01\u77ff\u5de5\u7684\u516d\u500d\u3002\u8fd9\u4e5f\u662f\u667a\u80fd\u5408\u7ea6\u5e73\u53f0\u7b2c\u4e00\u6b21\uff0c\u4ece\u771f\u5b9e\u7684\u7ecf\u6d4e\u6d3b\u52a8\u91cc\uff0c\u8d5a\u5230\u6301\u7eed\u53c8\u53ef\u89c2\u7684\u6536\u5165\u3002<\/p>\n

2021 \u5e74\uff0cNFT \u53e0\u52a0\u5728 DeFi \u4e4b\u4e0a\u3002\u5e73\u5747\u4ea4\u6613\u624b\u7eed\u8d39\u5728\u9ad8\u5cf0\u671f\u8fbe\u5230 53 \u7f8e\u5143\u3002\u5b63\u5ea6\u624b\u7eed\u8d39\u6536\u5165\u4ece 2020 \u5e74\u7b2c\u56db\u5b63\u5ea6\u7684 2.31 \u4ebf\u7f8e\u5143\u589e\u957f\u81f3 2021 \u5e74\u7b2c\u56db\u5b63\u5ea6\u7684 43 \u4ebf\u7f8e\u5143\uff0c\u589e\u5e45\u8fbe 1,777%\u30022021 \u5e74 8 \u6708\u5b9e\u65bd\u7684 EIP-1559 \u5f15\u5165\u57fa\u7840\u624b\u7eed\u8d39\u9500\u6bc1\u673a\u5236\uff0c\u628a\u4e00\u90e8\u5206\u624b\u7eed\u8d39\u6c38\u4e45\u4ece\u5e02\u573a\u4e0a\u79fb\u9664\u3002\u90a3\u65f6\u5019\u770b\uff0c\u4ee5\u592a\u574a\u597d\u50cf\u771f\u7684\u89e3\u51b3\u4e86 L1 \u8d5a\u4e0d\u5230\u94b1\u7684\u6838\u5fc3\u95ee\u9898\u3002<\/p>\n

\u53ef\u5b9e\u9645\u4e0a\uff0c\u8fd9\u4e9b\u624b\u7eed\u8d39\u672c\u8d28\u4e0a\u8fd8\u662f\u201c\u62e5\u5835\u8d39\u201d\uff1a\u7528\u6237\u82b1 20 \u5230 50 \u7f8e\u5143\u624b\u7eed\u8d39\uff0c\u4e0d\u662f\u56e0\u4e3a\u4ea4\u6613\u672c\u8eab\u503c\u8fd9\u4e48\u591a\u94b1\uff0c\u800c\u662f\u56e0\u4e3a\u5927\u5bb6\u90fd\u6324\u7740\u7528\u94fe\u4e0a\uff0c\u8d85\u8fc7\u4e86\u4ee5\u592a\u574a\u6bcf\u79d2\u5927\u6982 15 \u7b14\u4ea4\u6613\uff0815 TPS\uff09\u7684\u5904\u7406\u80fd\u529b\u3002\u8fd9\u79cd\u5929\u751f\u7684\u77ed\u677f\uff0c\u4e5f\u7ed9\u66f4\u4fbf\u5b9c\u7684\u66ff\u4ee3\u65b9\u6848\u7559\u8db3\u4e86\u7a7a\u95f4\u3002<\/p>\n

\u50cf Solana\u3001Avalanche\u3001BNB Chain \u8fd9\u4e9b\u5176\u4ed6\u7684 L1\uff0c\u53ea\u9700\u8981\u51e0\u7f8e\u5206\u5c31\u80fd\u63d0\u4f9b\u4ea4\u6613\u670d\u52a1\uff1b\u4ee5\u592a\u574a\u7684 L2 Rollup\uff0c\u6bd4\u5982 Arbitrum \u548c Optimism\uff0c\u66f4\u662f\u62a2\u4e86\u4e0d\u5c11\u751f\u610f\u2014\u2014\u5b83\u4eec\u5728\u81ea\u5df1\u7684\u7f51\u7edc\u4e0a\u5904\u7406\u4ea4\u6613\uff0c\u518d\u628a\u538b\u7f29\u540e\u7684\u4ea4\u6613\u6279\u6b21\u4f20\u56de\u4ee5\u592a\u574a\u4e3b\u7f51\u7ed3\u7b97\uff0c\u53c8\u5feb\u53c8\u4fbf\u5b9c\u3002<\/p>\n

\u968f\u540e\uff0c\u4ee5\u592a\u574a\u8fdb\u884c\u4e86\u4e00\u6b21\u201c\u81ea\u6211\u524a\u5f31\u201d\u30022024 \u5e74 3 \u6708 13 \u65e5\u7684 Dencun \u5347\u7ea7\u5f15\u5165 Blob \u4ea4\u6613\uff08EIP-4844\uff09\uff0c\u4e3a L2 \u63d0\u4f9b\u4e86\u66f4\u5ec9\u4ef7\u7684\u6570\u636e\u53d1\u5e03\u8def\u5f84\u3002\u5728\u6b64\u4e4b\u524d\uff0cL2 \u4f7f\u7528 calldata\uff0c\u6210\u672c\u7ea6\u4e3a\u6bcf\u5146\u5b57\u8282 1,000 \u7f8e\u5143\u3002\u5347\u7ea7\u4e4b\u540e\uff0cArbitrum \u5355\u7b14\u624b\u7eed\u8d39\u4ece 0.37 \u7f8e\u5143\u964d\u81f3 0.012 \u7f8e\u5143\uff1bOptimism \u4ece 0.32 \u7f8e\u5143\u964d\u81f3 0.009 \u7f8e\u5143\u3002Blob \u4e2d\u4f4d\u624b\u7eed\u8d39\u51e0\u4e4e\u964d\u81f3\u96f6\u3002\u4ee5\u592a\u574a\u672c\u6765\u60f3\u9760\u8fd9\u4e2a\u7559\u4f4f\u7528\u6237\uff0c\u6ca1\u60f3\u5230\u53cd\u800c\u524a\u5f31\u4e86\u81ea\u5df1\u6700\u540e\u4e00\u4e2a\u91cd\u8981\u7684\u624b\u7eed\u8d39\u6536\u5165\u6765\u6e90\u3002<\/p>\n

\u770b\u6570\u636e\u5c31\u4f1a\u66f4\u52a0\u76f4\u89c2\u30022024 \u5e74\uff0cL2 \u521b\u9020 2.77 \u4ebf\u7f8e\u5143\u6536\u5165\uff0c\u4f46\u4ec5\u5411\u4ee5\u592a\u574a\u652f\u4ed8 1.13 \u4ebf\u7f8e\u5143\u3002\u5230 2025 \u5e74\uff0cL2 \u6536\u5165\u964d\u81f3 1.29 \u4ebf\u7f8e\u5143\uff0c\u800c\u56de\u6d41\u81f3\u4ee5\u592a\u574a\u7684\u91d1\u989d\u4ec5\u7ea6 1,000 \u4e07\u7f8e\u5143\uff0c\u4e0d\u5230 L2 \u6536\u5165\u7684 10%\uff0c\u540c\u6bd4\u4e0b\u964d\u8d85\u8fc7 90%\u3002\u66fe\u7ecf\u6708\u5747\u8d85\u8fc7 1 \u4ebf\u7f8e\u5143\u7684 L1 \u624b\u7eed\u8d39\u6536\u5165\uff0c\u5230 2025 \u5e74\u7b2c\u56db\u5b63\u5ea6\u5df2\u8dcc\u7834 1,500 \u4e07\u7f8e\u5143\u3002\u8fd9\u6761\u5728\u5355\u5b63\u5ea6\u521b\u9020 43 \u4ebf\u7f8e\u5143\u6536\u5165\u7684\u94fe\uff0c\u4ec5\u56db\u5e74\u540e\uff0c\u6536\u5165\u89c4\u6a21\u5df2\u7f29\u6c34\u7ea6 95%\u3002<\/p>\n

\u6bd4\u7279\u5e01\u7684\u6536\u5165\u88ab\u538b\u7f29\uff0c\u662f\u56e0\u4e3a\u5927\u5bb6\u4e0d\u7528\u94fe\u4e0a\u4e5f\u80fd\u62ff\u5230 BTC\uff1b\u800c\u4ee5\u592a\u574a\u7684\u6536\u5165\u88ab\u538b\u7f29\uff0c\u5206\u4e86\u4e24\u6ce2\uff1a\u7b2c\u4e00\u6ce2\u662f\u5176\u4ed6\u66ff\u4ee3\u7f51\u7edc\uff0c\u628a\u4e0d\u60f3\u82b1\u9ad8\u4ef7\u62e5\u5835\u8d39\u7684\u7528\u6237\u90fd\u5438\u8d70\u4e86\uff1b\u7b2c\u4e8c\u6ce2\u662f\u4ee5\u592a\u574a\u81ea\u5df1\u7684\u6269\u5bb9\u8ba1\u5212\uff0c\u628a L2 \u4f20\u6570\u636e\u7684\u6210\u672c\u538b\u5230\u51e0\u4e4e\u4e3a\u96f6\uff0c\u81ea\u5df1\u4e5f\u6ca1\u6cd5\u518d\u9760\u7ed3\u7b97\u8d5a\u94b1\u4e86\u3002\u4e0d\u7ba1\u662f\u54ea\u4e00\u79cd\uff0c\u90fd\u662f L1 \u81ea\u5df1\u5efa\u4e86\u3001\u6216\u8005\u653e\u4efb\u4e86\u90a3\u4e9b\u62a2\u81ea\u5df1\u6536\u5165\u7684\u5de5\u5177\u51fa\u73b0\u3002 <\/p>\n

Solana<\/span><\/strong><\/p>\n

\"L1\u516c\u94fe\u7684\u624b\u7eed\u8d39\u6536\u5165\uff0c\u662f\u5982\u4f55\u88abL2\u3001\u4e13\u6709AMM\u548cHyperliquid\u4e00\u6b65\u6b65\u201c\u5206\u98df\u201d\u7684\uff1f\"\/<\/p>\n

Solana \u8d5a\u94b1\u7684\u903b\u8f91\uff0c\u548c\u6bd4\u7279\u5e01\u3001\u4ee5\u592a\u574a\u5b8c\u5168\u4e0d\u4e00\u6837\u2014\u2014\u5b83\u51e0\u4e4e\u4e0d\u9760\u62e5\u5835\u8d5a\u624b\u7eed\u8d39\u3002\u57fa\u7840\u624b\u7eed\u8d39\u56fa\u5b9a\u662f\u6bcf\u4e2a\u7b7e\u540d 0.000005 SOL\uff0c\u4fbf\u5b9c\u5230\u51e0\u4e4e\u53ef\u4ee5\u5ffd\u7565\u4e0d\u8ba1\u3002\u7ea6 95% \u7684\u624b\u7eed\u8d39\u6536\u5165\u6765\u81ea\u4f18\u5148\u8d39\u4e0e\u901a\u8fc7 Jito \u533a\u5757\u5f15\u64ce\u652f\u4ed8\u7684 MEV \u5c0f\u8d39\u30022025 \u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0cSolana \u7684\u201c\u771f\u5b9e\u7ecf\u6d4e\u4ef7\u503c\u201d\uff08REV\uff09\u8fbe\u5230 8.16 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d 55% \u6765\u81ea MEV \u5c0f\u8d39\u30022024 \u5e74\uff0c\u9a8c\u8bc1\u8005\u5927\u6982\u80fd\u8d5a 12 \u4ebf\u7f8e\u5143\uff0c\u800c\u8fd0\u8425\u6210\u672c\u53ea\u6709\u7ea6 7000 \u4e07\u7f8e\u5143\uff0c\u5229\u6da6\u7a7a\u95f4\u5176\u5b9e\u5f88\u5927\u3002<\/p>\n

Solana \u624b\u7eed\u8d39\u7206\u53d1\u7684\u5173\u952e\uff0c\u662f memecoin \u4ea4\u6613\u30022024 \u5e74 1 \u6708\u4e0a\u7ebf\u7684 Pump.fun\uff0c\u4e0d\u5230 18 \u4e2a\u6708\u5c31\u8d5a\u4e86\u8d85\u8fc7 6 \u4ebf\u7f8e\u5143\u7684\u534f\u8bae\u6536\u5165\uff0c\u5dc5\u5cf0\u65f6\u671f\u8d21\u732e\u4e86\u9ad8\u8fbe 99% \u7684 memecoin \u53d1\u884c\u3002DEX \u65e5\u4ea4\u6613\u91cf\u4e00\u5ea6\u8fbe\u5230 380 \u4ebf\u7f8e\u5143\u30022025 \u5e74 1 \u6708 TRUMP \u4ee3\u5e01\u4e0a\u7ebf\uff0c\u4f7f\u5355\u65e5\u4f18\u5148\u8d39\u98d9\u5347\u81f3 122,000 SOL\uff0cMEV \u5c0f\u8d39\u8fbe 98,120 SOL\u30022024 \u5e74\uff0c\u6392\u540d\u524d 1% \u7684 memecoin \u4ea4\u6613\u8005\u8d21\u732e\u4e86 13.58 \u4ebf\u7f8e\u5143\u624b\u7eed\u8d39\uff0c\u5360\u603b memecoin \u624b\u7eed\u8d39\u8fd1 80%\u3002\u51e0\u4e4e\u5168\u90e8\u7531 MEV \u9a71\u52a8\u3002<\/p>\n

\u5982\u4eca\uff0c\u6709\u4e24\u7c7b\u521b\u65b0\u6b63\u5728\u538b\u7f29\u8fd9\u90e8\u5206\u6536\u5165\u3002<\/p>\n

\u7b2c\u4e00\u7c7b\u662f\u4e13\u6709 AMM\u3002HumidiFi\u3001SolFi\u3001Tessera\u3001ZeroFi\u3001GoonFi \u7b49\u534f\u8bae\u91c7\u7528\u7531\u4e13\u4e1a\u505a\u5e02\u5546\u7ba1\u7406\u7684\u79c1\u6709\u91d1\u5e93\uff0c\u5728\u5185\u90e8\u62a5\u4ef7\uff0c\u5e76\u4ee5\u6bcf\u79d2\u591a\u6b21\u9891\u7387\u66f4\u65b0\u4ef7\u683c\u3002\u7531\u4e8e\u6d41\u52a8\u6027\u4e0d\u5bf9\u5916\u516c\u5f00\uff0cMEV \u673a\u5668\u4eba\u65e0\u6cd5\u8fdb\u884c\u5939\u51fb\u4ea4\u6613\u3002\u66f4\u5173\u952e\u7684\u662f\uff0c\u4e13\u6709 AMM \u901a\u8fc7 Jupiter \u7b49\u805a\u5408\u5668\u8def\u7531\u8ba2\u5355\uff0c\u4e3b\u52a8\u9009\u62e9\u4ea4\u6613\u5bf9\u624b\uff0c\u800c\u975e\u50cf\u516c\u5171\u6c60\u90a3\u6837\u88ab\u52a8\u66b4\u9732\u5728\u4efb\u4f55\u613f\u610f\u652f\u4ed8 MEV \u5c0f\u8d39\u7684\u53c2\u4e0e\u8005\u9762\u524d\u3002\u901a\u8fc7\u4fdd\u6301\u5b9a\u4ef7\u79c1\u5bc6\u4e14\u6301\u7eed\u5237\u65b0\uff0c\u5b83\u4eec\u6d88\u9664\u4e86\u201c\u9648\u65e7\u62a5\u4ef7\u201d\u95ee\u9898\u2014\u2014\u8fd9\u6b63\u662f Solana \u5927\u91cf MEV \u6536\u5165\u7684\u6765\u6e90\u3002HumidiFi \u5728\u4e0a\u7ebf\u540e\u7684\u524d\u4e94\u4e2a\u6708\u5185\u7d2f\u8ba1\u5904\u7406\u8fd1 1,000 \u4ebf\u7f8e\u5143\u4ea4\u6613\u91cf\u3002\u5982\u4eca\uff0c\u4e13\u6709 AMM \u5df2\u5360\u636e Solana DEX \u4ea4\u6613\u91cf\u7684 50% \u4ee5\u4e0a\uff0c\u5728 SOL\/USDC \u7b49\u9ad8\u6d41\u52a8\u6027\u4ea4\u6613\u5bf9\u4e2d\u5360\u6bd4\u66f4\u9ad8\u3002<\/p>\n

\u7b2c\u4e8c\u7c7b\u662f Hyperliquid<\/a> \u5c06\u6700\u8d5a\u94b1\u7684\u73b0\u8d27\u4ea4\u6613\u6d3b\u52a8\u76f4\u63a5\u8fc1\u51fa Solana\u3002\u5b83\u9760\u81ea\u5df1\u7814\u53d1\u7684 HyperCore \u6280\u672f\uff0c\u505a\u4e86\u4e00\u5957\u539f\u751f\u6865\u63a5\u5de5\u5177\uff0c\u8ba9 Solana \u4e0a\u7684\u4ee3\u5e01\uff0c\u80fd\u5b58\u5230 Hyperliquid \u4e0a\u3001\u63d0\u56de\u53bb\uff0c\u8fd8\u80fd\u5728\u5b83\u7684\u73b0\u8d27\u8ba2\u5355\u7c3f\u4e0a\u4ea4\u6613\u30022025 \u5e74 7 \u6708 Pump.fun \u63a8\u51fa PUMP \u4ee3\u5e01\u65f6\uff0c\u5927\u5bb6\u90fd\u662f\u5728 Hyperliquid \u4e0a\u5b9a\u4ef7\u683c\uff0c\u800c\u4e0d\u662f Solana \u7684 DEX\uff0c\u518d\u901a\u8fc7 HyperCore \u8de8\u94fe\u6865\u63a5\u3002\u8fd9\u4e4b\u524d\uff0cHyperliquid \u5df2\u7ecf\u5728 SOL \u672c\u8eab\u548c FARTCOIN \u7b49\u4ee3\u5e01\u4e0a\u8bd5\u8fc7\u8fd9\u4e2a\u6a21\u5f0f\u4e86\u2014\u2014\u4ef7\u683c\u521a\u51fa\u6765\u7684\u65f6\u5019\uff0c\u4ef7\u5dee\u6700\u5927\u3001\u6ce2\u52a8\u6700\u5267\u70c8\u3001\u6700\u5bb9\u6613\u8d5a MEV \u7684\u9636\u6bb5\uff0c\u5df2\u7ecf\u6162\u6162\u642c\u51fa Solana \u4e86\u3002<\/p>\n

\u8fd9\u4e24\u79cd\u73a9\u6cd5\uff0c\u4ece\u4e24\u4e2a\u65b9\u5411\u538b\u7f29 Solana \u7684\u6536\u5165\uff1a\u4e13\u6709 AMM \u51cf\u5c11\u4e86\u7559\u5728 Solana \u4e0a\u7684 MEV \u4ea4\u6613\uff0cHyperliquid \u5219\u628a\u6700\u80fd\u8d5a MEV \u94b1\u7684\u73b0\u8d27\u4ea4\u6613\uff0c\u76f4\u63a5\u8fc1\u5230\u4e86\u94fe\u5916\u3002\u5230 2025 \u5e74\u7b2c\u4e8c\u5b63\u5ea6\uff0cSolana \u7684 REV \u6bd4\u4e0a\u4e00\u5b63\u5ea6\u964d\u4e86 54%\uff0c\u53ea\u5269 2.72 \u4ebf\u7f8e\u5143\uff1b\u6bcf\u5929\u7684 MEV \u5c0f\u8d39\uff0c\u6bd4 1 \u6708\u5cf0\u503c\u964d\u4e86 90% \u4ee5\u4e0a\uff0c\u4e00\u5929\u8fd8\u4e0d\u5230 10000 SOL\u3002<\/p>\n

\u5176\u5b9e\u89c4\u5f8b\u548c\u524d\u4e24\u4e2a\u94fe\u4e00\u6837\uff0c\u53ea\u662f\u8d5a\u94b1\u7684\u65b9\u5f0f\u4e0d\u540c\uff1aSolana \u7684\u624b\u7eed\u8d39\uff0c\u672c\u8d28\u4e0a\u662f\u65b0\u4ea4\u6613\u73a9\u6cd5\u521a\u51fa\u6765\u3001\u8fd8\u6bd4\u8f83\u6df7\u4e71\u7684\u65f6\u5019\uff0c\u9760 MEV \u8d5a\u7684\u77ed\u671f\u94b1\u3002\u7b49\u4e13\u6709 AMM \u4f18\u5316\u4e86\u4ea4\u6613\u6548\u7387\uff0cHyperliquid \u5438\u8d70\u4e86\u9ad8\u4ef7\u503c\u8ba2\u5355\uff0c\u8fd9\u7b14\u5229\u6da6\u5c31\u5f88\u5feb\u7f29\u6c34\u4e86\u3002L1 \u80fd\u5728\u5e02\u573a\u72c2\u70ed\u7684\u65f6\u5019\u8d5a\u4e00\u5927\u7b14\uff0c\u4f46\u5e02\u573a\u603b\u4f1a\u5f88\u5feb\u60f3\u51fa\u65b0\u529e\u6cd5\uff0c\u4e0d\u8ba9\u8fd9\u79cd\u77ed\u671f\u6536\u76ca\u4e00\u76f4\u6301\u7eed\u4e0b\u53bb\u3002<\/p>\n

\u5bf9\u4ee3\u5e01\u4ef7\u683c\u7684\u5f71\u54cd<\/span><\/strong><\/p>\n

\"L1\u516c\u94fe\u7684\u624b\u7eed\u8d39\u6536\u5165\uff0c\u662f\u5982\u4f55\u88abL2\u3001\u4e13\u6709AMM\u548cHyperliquid\u4e00\u6b65\u6b65\u201c\u5206\u98df\u201d\u7684\uff1f\"\/<\/p>\n

\u4e0a\u8ff0\u4e09\u6761\u94fe\u6240\u5448\u73b0\u7684\u6a21\u5f0f\uff0c\u5e76\u975e\u4ec5\u662f\u4e8b\u540e\u63cf\u8ff0\uff0c\u5b83\u5728\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u4e5f\u5177\u6709\u524d\u77bb\u6027\u3002\u6bcf\u4e00\u79cd L1 \u624b\u7eed\u8d39\u673a\u5236\u90fd\u9075\u5faa\u540c\u4e00\u8f68\u8ff9\uff1a\u65b0\u7684\u9700\u6c42\u5e26\u6765\u6536\u5165\u9ad8\u5cf0\uff0c\u9ad8\u5cf0\u5438\u5f15\u521b\u65b0\uff0c\u521b\u65b0\u538b\u7f29\u5229\u6da6\uff0c\u800c\u4e14\u8fd9\u79cd\u538b\u7f29\u4e00\u65e6\u53d1\u751f\uff0c\u5c31\u5f88\u96be\u518d\u9006\u8f6c\u3002\u987a\u7740\u8fd9\u4e2a\u601d\u8def\uff0c\u6211\u4eec\u80fd\u5bf9\u56db\u79cd\u4ee3\u5e01\u7684\u672a\u6765\uff0c\u6709\u4e2a\u5927\u6982\u7684\u5224\u65ad\u3002<\/p>\n

\u4ee5\u592a\u574a\uff1a\u6301\u7eed\u6027\u7684\u624b\u7eed\u8d39\u201c\u584c\u7f29\u201d <\/strong><\/p>\n

\u4ee5\u592a\u574a\u7684\u624b\u7eed\u8d39\uff0c\u8fd8\u6ca1\u770b\u5230\u660e\u786e\u7684\u5e95\u90e8\u30022024 \u5e74\uff0cL2 \u7ed9\u4ee5\u592a\u574a\u4e3b\u7f51\u4ea4\u4e86 1.13 \u4ebf\u7f8e\u5143\uff1b\u5230 2025 \u5e74\uff0c\u5c31\u9aa4\u964d\u5230\u5927\u6982 1000 \u4e07\u7f8e\u5143\uff0c\u964d\u4e86 90% \u4ee5\u4e0a\u3002\u6bcf\u591a\u4e00\u4e2a\u65b0\u7684 L2\uff0c\u5927\u5bb6\u5bf9\u4ee5\u592a\u574a\u4e3b\u7f51\u533a\u5757\u7a7a\u95f4\u7684\u9700\u6c42\u5c31\u5c11\u4e00\u5206\uff0c\u800c\u4e14\u4ee5\u592a\u574a\u81ea\u5df1\u7684\u6269\u5bb9\u8ba1\u5212\uff0c\u8fd8\u5728\u4e0d\u65ad\u964d\u4f4e\u4f20\u6570\u636e\u7684\u6210\u672c\u3002EIP-4844 \u5e76\u975e\u4e00\u6b21\u6027\u91cd\u5b9a\u4ef7\uff0c\u800c\u662f\u7ed3\u6784\u6027\u8f6c\u5411\u7684\u8d77\u70b9\u2014\u2014\u4ee5\u592a\u574a\u4e3b\u52a8\u8865\u8d34\u5c06\u6d3b\u52a8\u8def\u7531\u81f3\u5176\u624b\u7eed\u8d39\u5e02\u573a\u4e4b\u5916\u7684\u57fa\u7840\u8bbe\u65bd\u5de5\u5177\u3002\u76ee\u524d\uff0c\u6708\u5ea6 L1 \u624b\u7eed\u8d39\u6536\u5165\u5df2\u8dcc\u7834 1,500 \u4e07\u7f8e\u5143\uff0c\u800c\u9a71\u52a8\u4e0b\u884c\u7684\u529b\u91cf\u4ecd\u5728\u589e\u5f3a\u3002\u82e5\u4ee5\u592a\u574a\u65e0\u6cd5\u521b\u9020\u5168\u65b0\u7684 L1 \u539f\u751f\u9700\u6c42\u6765\u6e90\uff0c\u4ee3\u5e01\u4ef7\u683c\u5c06\u7ee7\u7eed\u53cd\u6620\u8fd9\u79cd\u538b\u7f29\u8d8b\u52bf\u3002ETH \u73b0\u5728\u8d8a\u6765\u8d8a\u50cf\u4e00\u4e2a\u4f4e\u6536\u76ca\u7684\u57fa\u7840\u8bbe\u65bd\u8d44\u4ea7\uff0c\u800c\u4e0d\u662f\u66fe\u7ecf\u90a3\u79cd\u9ad8\u589e\u957f\u7684\u667a\u80fd\u5408\u7ea6\u5e73\u53f0\u4e86\u3002 <\/p>\n

Solana\uff1a\u6d3b\u8dc3\u5ea6\u521b\u65b0\u9ad8\uff0c\u4ef7\u683c\u672a\u5fc5 <\/strong><\/p>\n

Solana \u51e0\u4e4e\u80af\u5b9a\u80fd\u5728\u4e0b\u4e00\u4e2a\u5468\u671f\uff0c\u521b\u4e0b\u94fe\u4e0a\u6d3b\u8dc3\u5ea6\u7684\u65b0\u9ad8\u2014\u2014\u5b83\u7684\u751f\u6001\u591f\u6df1\u3001\u5f00\u53d1\u8005\u591f\u591a\u3001\u57fa\u7840\u8bbe\u65bd\u4e5f\u591f\u6210\u719f\uff0c\u4f46\u624b\u7eed\u8d39\u6536\u5165\u672a\u5fc5\u4f1a\u8ddf\u7740\u6da8\u30022024 \u5e74\u672b\u5230 2025 \u5e74\u521d\u7684 memecoin \u72c2\u70ed\uff0c\u5bf9 Solana \u6765\u8bf4\uff0c\u5c31\u76f8\u5f53\u4e8e\u6bd4\u7279\u5e01\u7684\u201cSegWit \u65f6\u523b\u201d\uff1a\u4e00\u6b21\u9760\u65b0\u9700\u6c42\u6491\u8d77\u7684\u624b\u7eed\u8d39\u9ad8\u5cf0\uff0c\u4e4b\u540e\u8fc5\u901f\u5c31\u88ab\u521b\u65b0\u538b\u7f29\u3002<\/p>\n

\u76ee\u524d\uff0c\u4e13\u6709 AMM \u5df2\u5904\u7406\u8d85\u8fc7 50% \u7684 DEX \u4ea4\u6613\u91cf\uff0c\u5927\u5e45\u524a\u5f31 MEV\u3002Hyperliquid \u7684 HyperCore \u6280\u672f\uff0c\u8fd8\u5728\u628a\u6700\u8d5a\u94b1\u7684\u5b9a\u4ef7\u73af\u8282\u642c\u5230\u94fe\u5916\u3002\u5c31\u7b97\u94fe\u4e0a\u6d3b\u52a8\u6bd4 2025 \u5e74 1 \u6708\u591a 2 \u5230 3 \u500d\uff0c\u5b83\u7684\u624b\u7eed\u8d39\u4f53\u7cfb\u4e5f\u5df2\u7ecf\u6210\u719f\u5230\uff0c\u5f88\u96be\u628a\u8fd9\u4e9b\u6d3b\u8dc3\u5ea6\u53d8\u6210\u76f8\u5e94\u7684\u9a8c\u8bc1\u8005\u6536\u5165\u4e86\u3002\u73b0\u5728\u65e5\u5747 MEV \u5c0f\u8d39\u8f83\u5cf0\u503c\u4e0b\u964d\u8d85\u8fc7 90%\uff0c\u4f46\u94fe\u4e0a\u6d3b\u52a8\u8fd8\u662f\u5f88\u5065\u5eb7\u3002\u6ca1\u6709\u8db3\u591f\u7684\u624b\u7eed\u8d39\u6536\u5165\u652f\u6491\u4f30\u503c\uff0c\u5c31\u7b97 Solana \u7684\u4f7f\u7528\u7387\u518d\u521b\u65b0\u9ad8\uff0cSOL \u5728\u4e0b\u4e00\u4e2a\u5468\u671f\u60f3\u7a81\u7834\u5386\u53f2\u9ad8\u70b9\uff0c\u53ef\u80fd\u6027\u4e5f\u4e0d\u5927\u3002<\/p>\n

Hyperliquid\uff1a\u7e41\u8363\u4e0e\u538b\u7f29\u7684\u524d\u540e\u6bb5 <\/strong><\/p>\n

Hyperliquid \u662f\u6700\u503c\u5f97\u5173\u6ce8\u7684\u6848\u4f8b\uff0c\u56e0\u4e3a\u5b83\u4ee3\u8868\u4e86\u8fd9\u4e2a\u201c\u8d5a\u94b1-\u88ab\u538b\u7f29\u201d\u5faa\u73af\u7684\u4e0b\u4e00\u4e2a\u9636\u6bb5\uff0c\u800c\u5e02\u573a\u8fd8\u6ca1\u610f\u8bc6\u5230\u8fd9\u4e2a\u5faa\u73af\u7684\u540e\u534a\u6bb5\u4f1a\u600e\u4e48\u8d70\u3002<\/p>\n

Hyperliquid \u73b0\u5728\u5df2\u7ecf\u662f\u4f20\u7edf\u91d1\u878d\u8d44<\/a>\u4ea7\u6c38\u7eed\u5408\u7ea6\uff08perps\uff09\u4ea4\u6613\u7684\u5934\u90e8\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4e86\u3002\u5728\u8fd1\u671f\u767d\u94f6\u6ce2\u52a8\u9ad8\u5cf0\u671f\u95f4\uff0cHIP-3 \u90e8\u7f72\u7684\u5e02\u573a\u6355\u83b7\u4e86\u7ea6 2% \u7684\u5168\u7403\u767d\u94f6\u4ea4\u6613\u91cf\uff0c\u9488\u5bf9\u96f6\u552e\u89c4\u6a21\u4ea4\u6613\u7684\u4e2d\u4f4d\u70b9\u5dee\u751a\u81f3\u4f18\u4e8e COMEX\u3002\u67d0\u4e9b\u65f6\u6bb5\uff0c\u4f20\u7edf\u91d1\u878d\u5de5\u5177\u5360\u5e73\u53f0\u4ea4\u6613\u91cf\u7ea6 30%\uff0c\u65e5\u540d\u4e49\u4ea4\u6613\u989d\u8d85\u8fc7 50 \u4ebf\u7f8e\u5143\u30022025 \u5e74\u5e73\u53f0\u6536\u5165\u7ea6 6 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d 97% \u7528\u4e8e HYPE \u56de\u8d2d<\/a>\u4e0e\u9500\u6bc1\u3002<\/p>\n

\u6211\u4eec\u9884\u8ba1 Hyperliquid \u8fd8\u4f1a\u7ee7\u7eed\u4e3b\u5bfc TradFi \u8d44\u4ea7\u7684\u6c38\u7eed\u5408\u7ea6\u4ea4\u6613\u3002\u5b83\u7684\u4ea7\u54c1\u786e\u5b9e\u6709\u4f18\u52bf\uff1a\u5546\u54c1\u548c\u80a1\u7968\u80fd 7\u00d724 \u5c0f\u65f6\u4ea4\u6613\uff0c\u5c31\u7b97\u4f20\u7edf\u5e02\u573a\u5173\u5e02\u4e86\u4e5f\u80fd\u64cd\u4f5c\uff1b\u901a\u8fc7 HIP-3 \u63d0\u6848\uff0c\u4e0d\u7528\u5ba1\u6279\u5c31\u80fd\u65b0\u589e\u4ea4\u6613\u5e02\u573a\uff1b\u5728 CME \u8981\u6c42\u4ea4 18% \u521d\u59cb\u4fdd\u8bc1\u91d1\u7684\u8d44\u4ea7\u4e0a\uff0c\u5b83\u80fd\u63d0\u4f9b\u6700\u9ad8 20 \u500d\u6760\u6746\u3002\u4e0b\u4e00\u8f6e\u725b\u5e02\u91cc\uff0c\u5982\u679c\u4ea4\u6613\u91cf\u548c\u624b\u7eed\u8d39\u4e00\u76f4\u6da8\uff0cHYPE \u4ee3\u5e01\u53ef\u80fd\u4f1a\u50cf Solana \u4ece\u718a\u5e02\u4f4e\u70b9\u53cd\u5f39\u90a3\u6837\uff0c\u91cd\u65b0\u5b9a\u4ef7\u3002\u8981\u662f\u4f20\u7edf\u91d1\u878d\u8d44\u4ea7\u7684\u4ea4\u6613\u91cf\u7ee7\u7eed\u6269\u5927\uff0cHYPE \u5927\u6982\u4e5f\u4f1a\u8d70\u7c7b\u4f3c\u7684\u8def\u5b50\u3002\u6295\u8d44<\/a>\u8005\u5f88\u53ef\u80fd\u4f1a\u6839\u636e\u67d0\u4e00\u4e2a\u5b63\u5ea6\u7684\u9ad8\u6536\u5165\uff0c\u53bb\u9884\u5224\u5b83\u672a\u6765\u80fd\u4e00\u76f4\u8d5a\u8fd9\u4e48\u591a\u94b1\u3002<\/p>\n

\u4f46 Hyperliquid \u7684\u6536\u8d39\u6a21\u578b\uff0c\u5df2\u57cb\u4e0b\u538b\u7f29\u7684\u79cd\u5b50\u3002\u5e73\u53f0\u5bf9\u5403\u5355\u65b9\u6536\u53d6 4.5 \u4e2a\u57fa\u70b9\u7684\u540d\u4e49\u4ef7\u503c\u624b\u7eed\u8d39\uff0c\u5e76\u6839\u636e\u4ea4\u6613\u91cf\u4e0e\u8d28\u62bc\u63d0\u4f9b\u6700\u9ad8 40% \u6298\u6263\u3002\u8fd9\u4e0e\u4f20\u7edf\u91d1\u878d\u884d\u751f\u54c1\u5b9a\u4ef7\u903b\u8f91\u622a\u7136\u4e0d\u540c\u3002\u5728 CME\uff0c\u4e00\u4efd E-mini \u6807\u666e 500 \u5408\u7ea6\u7684\u4ea4\u6613\u6240\u8d39\u7528\u7ea6\u4e3a\u5355\u8fb9 1.33 \u7f8e\u5143\uff0c\u4e0e\u5408\u7ea6 27.5 \u4e07\u7f8e\u5143\u4ee5\u4e0a\u7684\u540d\u4e49\u4ef7\u503c\u65e0\u5173\uff0c\u6298\u7b97\u4e0d\u8db3 0.001 \u4e2a\u57fa\u70b9\u3002\u5bf9\u4e8e 1,000 \u4e07\u7f8e\u5143\u540d\u4e49\u4ed3\u4f4d\uff1aCME \u8d39\u7528\u7ea6 2.5 \u7f8e\u5143\uff0c\u800c Hyperliquid \u4e3a 4,500 \u7f8e\u5143\uff0c\u5dee\u8ddd\u7ea6 1,800 \u500d\u3002<\/p>\n

\u8fd9\u4e00\u4ef7\u5dee\u4e4b\u6240\u4ee5\u5b58\u5728\uff0c\u662f\u56e0\u4e3a Hyperliquid \u5f53\u524d\u7528\u6237\u4ee5\u96f6\u552e\u548c\u52a0\u5bc6\u539f\u751f\u7fa4\u4f53\u4e3a\u4e3b\u3002\u4f46 TradFi \u6c38\u7eed\u4ea7\u54c1\u4f1a\u5e26\u6765 TradFi \u9884\u671f\u3002\u5f53\u4ea4\u6613\u91cf\u6269\u5927\u3001\u673a\u6784\u53c2\u4e0e\u8005\u8fdb\u5165\u540e\uff0c\u5411 CME \u5f0f\u7ecf\u6d4e\u6a21\u578b\u9760\u62e2\u7684\u538b\u529b\u5c06\u663e\u8457\u589e\u5f3a\u3002Hyperliquid \u81ea\u8eab\u7684\u8d39\u7387\u7ed3\u6784\u5df2\u900f\u9732\u65b9\u5411\uff1aHIP-3 \u589e\u957f\u6a21\u5f0f\u5c06\u65b0\u5e02\u573a\u7684\u5403\u5355\u8d39\u7387\u524a\u51cf\u8d85\u8fc7 90%\uff0c\u6700\u4f4e\u53ef\u81f3 0.0045%\uff1b\u9876\u7ea7\u4ea4\u6613\u8005\u751a\u81f3\u4f4e\u4e8e 0.0015%\u3002\u534f\u8bae\u6b63\u5728\u4e3b\u52a8\u63a8\u8fdb\u624b\u7eed\u8d39\u538b\u7f29\u3002\u7ade\u4e89\u6027\u6c38\u7eed DEX\uff0c\u4ee5\u53ca\u672a\u6765\u63d0\u4f9b\u94fe\u4e0a\u4ea7\u54c1\u7684\u4f20\u7edf\u4ea4\u6613\u573a\u6240\uff0c\u5c06\u8fdb\u4e00\u6b65\u52a0\u901f\u8fd9\u4e00\u8fc7\u7a0b\u3002\u6700\u540e\u65e0\u975e\u4e24\u79cd\u7ed3\u679c\uff1a\u8981\u4e48 Hyperliquid \u56e0\u4e3a\u624b\u7eed\u8d39\u592a\u9ad8\uff0c\u4e22\u4e86\u4ea4\u6613\u91cf\uff1b\u8981\u4e48\u5c31\u628a\u8d39\u7387\u6539\u6210\u548c CME \u7c7b\u4f3c\u7684\u56fa\u5b9a\u8d39\u7528\u6a21\u5f0f\u3002\u4e0d\u7ba1\u54ea\u79cd\uff0c\u6295\u8d44\u8005\u73b0\u5728\u9884\u5224\u7684\u957f\u671f\u9ad8\u6536\u5165\uff0c\u90fd\u5f88\u96be\u5b9e\u73b0\uff0cHYPE \u4ee3\u5e01\u4ef7\u683c\u4e5f\u53ef\u80fd\u4f1a\u5feb\u901f\u4e0b\u8c03\u3002<\/p>\n

Bitcoin\uff1a\u4ef7\u683c\u5fc5\u987b\u5148\u4e8e\u624b\u7eed\u8d39\u589e\u957f <\/strong><\/p>\n

\u8fd9\u56db\u79cd\u8d44\u4ea7\u91cc\uff0c\u6bd4\u7279\u5e01\u6700\u7279\u522b\uff0c\u56e0\u4e3a\u5b83\u7684\u624b\u7eed\u8d39\u548c\u4ee3\u5e01\u4ef7\u683c\uff0c\u903b\u8f91\u5173\u7cfb\u662f\u53cd\u8fc7\u6765\u7684\u3002\u5bf9\u4ee5\u592a\u574a\u3001Solana \u548c Hyperliquid \u6765\u8bf4\uff0c\u903b\u8f91\u662f\uff1a\u624b\u7eed\u8d39\u8d5a\u6536\u5165\uff0c\u6536\u5165\u6491\u4f30\u503c\uff0c\u624b\u7eed\u8d39\u88ab\u538b\u7f29\uff0c\u4ee3\u5e01\u4ef7\u683c\u4e5f\u4f1a\u8dcc\uff1b\u4f46\u6bd4\u7279\u5e01\u4e0d\u4e00\u6837\uff0c\u903b\u8f91\u662f\u53cd\u8fc7\u6765\u7684\u3002\u77ff\u5de5\u5fc5\u987b\u9760\u5e01\u4ef7\u6301\u7eed\u4e0a\u6da8\uff0c\u624d\u80fd\u5728\u6bcf\u6b21\u533a\u5757\u5956\u52b1\u51cf\u534a\u540e\u6d3b\u4e0b\u53bb\u2014\u2014\u56e0\u4e3a\u624b\u7eed\u8d39\u6536\u5165\uff0c\u5df2\u7ecf\u88ab\u8bc1\u660e\u586b\u4e0d\u4e0a\u533a\u5757\u8865\u8d34\u51cf\u5c11\u7684\u7f3a\u53e3\u3002<\/p>\n

2024 \u5e74\u51cf\u534a\u5c06\u533a\u5757\u5956\u52b1\u4ece 6.25 BTC \u964d\u81f3 3.125 BTC\uff0c\u65e5\u53d1\u884c\u91cf\u4ece 900 BTC \u964d\u81f3 450 BTC\u3002\u5230 2025 \u5e74\u672b\uff0c\u65e5\u5747\u4ea4\u6613\u624b\u7eed\u8d39\u7ea6\u4e3a 30 \u4e07\u7f8e\u5143\uff0c\u5360\u77ff\u5de5\u603b\u6536\u5165\u4e0d\u5230 1%\u3002\u5c3d\u7ba1 2024 \u5e74\u6bd4\u7279\u5e01\u5168\u5e74\u624b\u7eed\u8d39\u6536\u5165\u8fbe\u5230 9.22 \u4ebf\u7f8e\u5143\uff0c\u4f46\u5176\u4e2d\u5927\u90e8\u5206\u6765\u81ea Ordinals \u4e0e Runes \u7684\u9636\u6bb5\u6027\u9ad8\u5cf0\uff0c\u800c\u975e\u53ef\u6301\u7eed\u7684\u81ea\u7136\u624b\u7eed\u8d39\u9700\u6c42\u3002\u5f53\u524d\u624b\u7eed\u8d39\u8d21\u732e\u51e0\u4e4e\u53ef\u4ee5\u5ffd\u7565\uff0c\u77ff\u5de5\u6536\u5165\u51e0\u4e4e\u5b8c\u5168\u4f9d\u8d56\u533a\u5757\u8865\u8d34\uff0c\u800c\u8865\u8d34\u6bcf\u56db\u5e74\u51cf\u534a\u4e00\u6b21\uff0c\u4e14\u4ee5 BTC \u8ba1\u4ef7\u3002\u77ff\u5de5\u80fd\u591f\u5728\u51cf\u534a\u5468\u671f\u4e2d\u4fdd\u6301\u76c8\u5229\u7684\u552f\u4e00\u65b9\u5f0f\uff0c\u662f\u6bd4\u7279\u5e01\u7684\u7f8e\u5143\u4ef7\u683c\u5728\u76f8\u8fd1\u65f6\u95f4\u5185\u5927\u81f4\u7ffb\u500d\uff0c\u4ece\u800c\u62b5\u6d88 BTC \u8ba1\u4ef7\u6536\u5165\u51cf\u5c11 50% \u7684\u5f71\u54cd\u3002\u5386\u53f2\u4e0a\uff0c\u8fd9\u4e00\u6761\u4ef6\u66fe\u6210\u7acb\u3002\u4f46\u8fd9\u79cd\u57fa\u7840\u6781\u4e3a\u8106\u5f31\u3002\u94fe\u7684\u5b89\u5168\u9884\u7b97\u5e76\u975e\u7531\u4f7f\u7528\u91cf\u8d44\u52a9\uff0c\u800c\u662f\u7531\u8d44\u4ea7\u4ef7\u683c\u6301\u7eed\u4e0a\u6da8\u6240\u8d44\u52a9\u3002\u4e00\u65e6\u5728\u67d0\u4e00\u6b21\u51cf\u534a\uff0c\u5e01\u4ef7\u4e0d\u6da8\u4e86\uff0c\u6316\u77ff\u5c31\u4f1a\u4e8f\u635f\uff0c\u7b97\u529b\u4f1a\u4e0b\u964d\uff0c\u7f51\u7edc\u5b89\u5168\u4e5f\u4f1a\u53d7\u5f71\u54cd\uff0c\u751a\u81f3\u53ef\u80fd\u9677\u5165\u201c\u5e01\u4ef7\u8dcc\u2192\u7b97\u529b\u964d\u2192\u5b89\u5168\u5dee\u2192\u5e01\u4ef7\u518d\u8dcc\u201d\u7684\u6076\u6027\u5faa\u73af\u3002<\/p>\n

\u8fd9\u4e5f\u8ba9\u6bd4\u7279\u5e01\u7684\u201c\u53ef\u6301\u7eed\u6027\u201d\uff0c\u6bd4\u770b\u8d77\u6765\u66f4\u8106\u5f31\u3002\u5e01\u4ef7\u80fd\u5728\u51e0\u4e4e\u6ca1\u6709\u624b\u7eed\u8d39\u7684\u60c5\u51b5\u4e0b\uff0c\u652f\u6491\u7f51\u7edc\u5b89\u5168\uff0c\u8fd9\u662f\u5176\u4ed6\u94fe\u96be\u4ee5\u590d\u5236\u7684\u673a\u5236\uff0c\u56e0\u4e3a\u6bd4\u7279\u5e01\u9996\u5148\u662f\u4e00\u79cd\u8d27\u5e01<\/a>\u8d44\u4ea7\uff0c\u4e0d\u662f\u667a\u80fd\u5408\u7ea6\u5e73\u53f0\u3002<\/p>\n

\u5927\u5bb6\u4e70 BTC\uff0c\u662f\u4e3a\u4e86\u6301\u6709\u5b83\uff0c\u4e0d\u662f\u4e3a\u4e86\u7528\u5b83\u7684\u533a\u5757\u7a7a\u95f4\u3002\u8fd9\u7ed9\u4e86\u6bd4\u7279\u5e01\u4e00\u4e2a\u5176\u4ed6\u4e09\u6761\u94fe\u6ca1\u6709\u7684\u4f18\u52bf\uff1a\u9760\u5927\u5bb6\u5bf9\u8d27\u5e01\u7684\u9700\u6c42\u5e26\u52a8\u5e01\u4ef7\u4e0a\u6da8\uff0c\u5c31\u7b97\u624b\u7eed\u8d39\u5f88\u4f4e\uff0c\u4e5f\u80fd\u7ef4\u6301\u7f51\u7edc\u5b89\u5168\u3002 <\/p>\n

\u4f46\u8fd9\u4e5f\u610f\u5473\u7740\uff0c\u6bd4\u7279\u5e01\u7684\u957f\u671f\u5b89\u5168\uff0c\u5168\u9760\u4e00\u4e2a\u5047\u8bbe\u2014\u2014\u5e01\u4ef7\u4e00\u76f4\u6da8\uff0c\u800c\u8fd9\u4e00\u70b9\u8c01\u4e5f\u4fdd\u8bc1\u4e0d\u4e86\u3002\u8fd9\u6761\u94fe\u80fd\u4e0d\u80fd\u4e00\u76f4\u505a\u5b89\u5168\u7684\u7ed3\u7b97\u5c42\uff0c\u4e0d\u5728\u4e8e\u80fd\u4e0d\u80fd\u505a\u51fa\u80fd\u8d5a\u624b\u7eed\u8d39\u7684\u5e94\u7528\uff0c\u800c\u5728\u4e8e\u80fd\u4e0d\u80fd\u4e00\u76f4\u7ef4\u6301\u8ba9\u5927\u5bb6\u613f\u610f\u4e70 BTC \u7684\u53d9\u4e8b\u548c\u5e02\u573a\u73af\u5883\u3002\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u8fd9\u4e2a\u6a21\u5f0f\u8fd8\u5728\u6b63\u5e38\u8fd0\u8f6c\uff0c\u4f46\u7b49\u533a\u5757\u8865\u8d34\u4ece 3.125 BTC \u8fdb\u4e00\u6b65\u964d\u5230 1.5625 BTC\u30010.78125 BTC\uff0c\u672a\u6765\u4e09\u5230\u56db\u6b21\u51cf\u534a\uff0c\u8fd8\u80fd\u4e0d\u80fd\u9760\u5e01\u4ef7\u4e0a\u6da8\u586b\u7f3a\u53e3\uff0c\u4f1a\u662f\u52a0\u5bc6\u9886\u57df\u6700\u5173\u952e\u7684\u4e00\u4e2a\u672a\u77e5\u6570\u3002<\/p>\n\n

Twitter\uff1ahttps:\/\/twitter.com\/BitpushNewsCN<\/a><\/p>\n

\u6bd4\u63a8 TG \u4ea4\u6d41\u7fa4\uff1ahttps:\/\/t.me\/BitPushCommunity<\/a><\/p>\n

\u6bd4\u63a8 TG \u8ba2\u9605\uff1a https:\/\/t.me\/bitpush<\/a><\/p>\n

(\u6765\u6e90:\u6bd4\u63a8) <\/ins> <\/p>\n

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\u539f\u6587\u94fe\u63a5:https:\/\/www.odaily.news\/zh-CN\/post\/5209445<\/a><\/h5>\n<\/p><\/div>\n
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\u8bf4\u660e: \u6bd4\u63a8\u6240\u6709\u6587\u7ae0\u53ea\u4ee3\u8868\u4f5c\u8005\u89c2\u70b9\uff0c\u4e0d\u6784\u6210\u6295\u8d44\u5efa\u8bae<\/h5>\n<\/p><\/div>\n
bitcoin<\/a><\/span>Hyperliquid<\/a><\/span>Solana<\/a><\/span>\u4ee5\u592a\u574a<\/a><\/span>\u6bd4\u7279\u5e01<\/a><\/span> <\/div>\n
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