The cryptocurrency market has seen immense growth and adoption over the past few years. With over 10,000 cryptocurrencies in existence today, it can be challenging to make sense of the market landscape and identify promising investment opportunities.

過去幾年，加密貨幣市場出現了巨大的成長和採用。目前存在超過 10,000 種加密貨幣，了解市場格局並識別有前景的投資機會可能具有挑戰性。

In this extensive technical analysis, we will delve into the key data points of 10 major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polygon (MATIC), Litecoin (LTC), and Polkadot (DOT).

在這篇廣泛的技術分析中，我們將深入研究10 種主要加密貨幣的關鍵數據點：比特幣(BTC)、以太坊(ETH)、XRP、幣安幣(BNB)、卡爾達諾(ADA)、Solana (SOL)、狗狗幣(DOGE) ）、Polygon (MATIC)、萊特幣 (LTC) 和 Polkadot (DOT)。

By closely examining their price statistics, volatility, market dominance, all-time highs and lows, we aim to decipher the numbers and uncover insights into the potential value of each crypto asset.

透過仔細研究其價格統計數據、波動性、市場主導地位、歷史高點和低點，我們的目標是破解這些數字並揭示每種加密資產的潛在價值。

Scrutinizing the Metrics of the Top Cryptocurrency, Bitcoin

訂閱與我們一起展示加密貨幣革命，一次一份時事通訊。立即訂閱，將每日新聞和市場更新直接發送到您的收件匣，以及我們數百萬其他訂閱者（沒錯，數以百萬計的人愛我們！） - 您還在等什麼？仔細研究頂級加密貨幣比特幣的指標

As the first and largest cryptocurrency, Bitcoin dominates the market in many respects. With a current price hovering around $30,100, Bitcoin has a gargantuan market capitalization of nearly $585 billion. This gives it a 46.7% market dominance, meaning nearly half the total crypto market value is tied to Bitcoin.

Despite its market leader position, Bitcoin has struggled to regain the astronomical highs of November 2021 when prices peaked at $69,000. As of July 2022, Bitcoin remains down 56% from its all-time high. However, zooming out on the long-term chart reveals Bitcoin has seen jaw-dropping growth of over 44,000% from its early years.

儘管比特幣處於市場領導者地位，但它仍難以重拾 2021 年 11 月價格達到 69,000 美元高峰的天文高點。截至 2022 年 7 月，比特幣仍較歷史高點下跌 56%。然而，縮小長期圖表顯示，比特幣較早年成長了 44,000% 以上，令人瞠目結舌。

In terms of trading volume, Bitcoin sees significant activity totaling over $12 billion in daily volume. However, compared to its market cap, Bitcoin's volume to market cap ratio sits at just 0.0193, pointing to comparatively low liquidity.

就交易量而言，比特幣的每日交易量總計超過 120 億美元。然而，與其市值相比，比特幣的成交量與市值之比僅為 0.0193，顯示其流動性相對較低。

Over the past month, Bitcoin has seen a respectable rally of 14%. However, its performance over the past quarter has been lackluster, with 30-day and 90-day returns of just 14% and 37.3% respectively. This points to slowing momentum and waning investor interest.

過去一個月，比特幣上漲了 14%。然而，其過去一個季度的表現卻乏善可陳，30天和90天回報率分別僅為14%和37.3%。這表明勢頭放緩，投資者興趣減弱。

Overall, while Bitcoin remains the crypto leader, its muted price action signals it may be losing steam. As investors seek higher returns, they could rotate holdings into alternative cryptocurrencies.

總體而言，雖然比特幣仍然是加密貨幣的領導者，但其溫和的價格走勢表明它可能正在失去動力。隨著投資者尋求更高的回報，他們可以將持有的資產轉向其他加密貨幣。

Ethereum Flashes Strength with Solid Returns

以太坊閃耀實力並帶來豐厚回報

As the second largest cryptocurrency, Ethereum has firmly established itself as a leading blockchain protocol for decentralized apps and NFTs. With a market cap exceeding $229 billion, Ethereum dominates nearly 20% of the crypto market value.

作為第二大加密貨幣，以太坊已牢牢確立了自己作為去中心化應用程式和 NFT 領先區塊鏈協議的地位。以太幣市值超過 2,290 億美元，佔加密貨幣市場近 20% 的份額。

Despite suffering major losses of 60% from its all-time high, Ethereum has delivered consistent positive returns across short and mid-term timeframes. Over the past month, Ethereum has surged 11.1% compared to Bitcoin’s 14% gain. The mid-term picture looks brighter still, with 3-month and 1-year returns of 25.7% and 37.3% respectively.

儘管與歷史最高點相比，以太坊遭受了 60% 的重大損失，但它在短期和中期時間範圍內實現了持續的正回報。過去一個月，以太坊飆升 11.1%，而比特幣則上漲 14%。中期前景看起來更光明，3 個月和 1 年回報率分別為 25.7% 和 37.3%。

Ethereum’s trading volume comes in at a healthy $9.8 billion. However, its volume to market cap ratio stands at just 0.0428, indicating relatively thin liquidity similar to Bitcoin.

以太坊的交易量達到 98 億美元。然而，其成交量與市值之比僅為 0.0428，顯示與比特幣類似的流動性相對較弱。

Overall, Ethereum's strong multi-month returns and dominance in decentralized finance paint an optimistic picture of its investment potential. As blockchain adoption accelerates, Ethereum looks poised to capitalize on its first-mover advantage in smart contract capabilities.

總體而言，以太坊強勁的多月回報和在去中心化金融領域的主導地位描繪了對其投資潛力的樂觀前景。隨著區塊鏈採用的加速，以太坊似乎準備好利用其在智慧合約功能方面的先發優勢。

Surging XRP Attempts to Reclaim Former Glory

飆升的 XRP 試圖重拾昔日輝煌

The XRP token from the Ripple ecosystem suffered heavy losses after reaching peak prices above $3 in early 2018. However, after bottoming out below 30 cents in July 2022, XRP has undergone a dazzling rally of over 60% in the past two weeks. This momentum surge has propelled XRP’s returns over the past 30 days to a staggering 62.5%.

來自Ripple 生態系統的XRP 代幣在2018 年初價格達到3 美元以上的峰值後遭受重創。然而，在2022 年7 月觸底至30 美分以下後，XRP 在過去兩週內經歷了超過60% 的耀眼漲幅。這種勢頭的飆升推動 XRP 在過去 30 天的回報率達到驚人的 62.5%。

With strong volume surpassing $2.8 billion daily, XRP liquidity appears high. Its volume to market cap ratio stands at a healthy 0.0682. This implies strong trading interest behind the recent XRP price uptrend.

While XRP maintains a solid market cap of $42 billion, its share of the total crypto market cap comes in at just 3.4%. Thus, despite being a top 10 cryptocurrency, XRP is dwarfed by the likes of Bitcoin and Ethereum in terms of influence and dominance.

儘管 XRP 保持著 420 億美元的穩定市值，但其在加密貨幣總市值中的份額僅為 3.4%。因此，儘管 XRP 是前 10 名的加密貨幣，但其影響力和主導地位與比特幣和以太坊等加密貨幣相比還是相形見絀。

After being pummeled from all-time highs above $3, XRP trades at heavy discounts to past peaks. Its current price around $0.80 marks a discount of 76% from highs. This indicates traders see considerable unrealized upside potential if XRP can revisit past highs.

在從 3 美元以上的歷史高點遭受重創後，XRP 的交易價格較過去的峰值大幅折扣。目前其價格約為 0.80 美元，較高點折價 76%。這表明，如果 XRP 能夠重新回到過去的高點，交易者將看到巨大的未實現的上漲潛力。

Binance Coin Stable but Lacking Impetus

幣安幣穩定但缺乏動力

As the native token of the Binance cryptocurrency exchange, Binance Coin (BNB) plays a pivotal role in cheaply settling trades on the platform. However, despite its utility value and ninth-ranked market cap of $38 billion, BNB has struggled to gain upward momentum.

作為幣安加密貨幣交易所的原生代幣，幣安幣（BNB）在平台上廉價的交易結算中發揮關鍵作用。然而，儘管 BNB 具有實用價值且市值排名第九，達到 380 億美元，但它仍難以獲得上漲動力。

Over the past month, BNB scraped out a lackluster 0.5% gain. And across the past three months, BNB remains stuck in a rut with negligible price movement. Failing to participate in broader market rallies, BNB's year-to-date returns sit at -6.1%.

過去一個月，BNB 勉強上漲了 0.5%。在過去的三個月裡，BNB 仍然停滯不前，價格波動微乎其微。由於未能參與更廣泛的市場反彈，BNB 年初至今的回報率為-6.1%。

With lackluster trading activity compared to market cap, BNB suffers from weaker liquidity metrics. Its volume to market cap ratio resides at just 0.0238, which could explain its tighter price ranges.

與市值相比，交易活動乏善可陳，BNB 的流動性指標也較弱。其成交量與市值之比僅為 0.0238，這可以解釋其價格區間收窄的原因。

Unless Binance Coin can find renewed trading interest and break out of its ranging behavior, its price outlook appears muted. However, as the crucial native asset of the world’s largest cryptocurrency exchange, BNB cannot be discounted over the long-run.

除非幣安幣能夠找到新的交易興趣並突破區間波動行為，否則其價格前景似乎黯淡。然而，BNB作為全球最大加密貨幣交易所的重要原生資產，長期來看不能打折扣。

Cardano Builds Momentum after Capitulation

卡爾達諾在投降後累積動力

The native ADA token of the Cardano blockchain has suffered brutal declines over the past year, with losses near 90% from all-time highs. However, after capitulating to around 30 cents in June, ADA appears to have posted a durable bottom.

卡爾達諾區塊鏈的原生 ADA 代幣在過去一年中遭受了殘酷的下跌，較歷史最高點損失了近 90%。然而，在 6 月跌至 30 美分左右之後，ADA 似乎已經形成了持久的底部。

With a parabolic surge of 22% over the past month, ADA now trades around $0.32 - nearly double its June lows. Zooming out further, ADA has gained 9% and 23% over the past 14 days and 30 days respectively. With accelerating momentum, ADA could have legs for further upside, likely aided by its decent liquidity profile.

ADA 過去一個月拋物線飆升 22%，目前交易價格約為 0.32 美元，幾乎是 6 月低點的兩倍。進一步縮小範圍，ADA 在過去 14 天和 30 天分別上漲了 9% 和 23%。隨著勢頭加速，ADA 可能會進一步上漲，這可能得益於其良好的流動性狀況。

With a volume to market cap ratio of 0.0282, ADA sees stronger trading activity relative to market cap compared to alternatives like BNB. If buying interest continues climbing, ADA could attempt to revisit the $1.00 level and recoup some of its crushing losses from the past year.

ADA 的成交量與市值之比為 0.0282，與 BNB 等替代品相比，相對於市值而言，ADA 的交易活動更為強勁。如果購買興趣繼續攀升，ADA 可能會嘗試重新回到 1.00 美元的水平，並彌補去年的部分慘重損失。

Solana Regains its Footing above $25

Solana 重新站穩 25 美元上方

Solana (SOL) has endured a catastrophic collapse over the past 8 months, plummeting 90% from a peak of $260 last November. The devastation in SOL price reflects loss of investor confidence in the network after suffering extended outages and reliability issues.

Solana (SOL) 在過去 8 個月裡經歷了災難性的崩潰，從去年 11 月的峰值 260 美元暴跌了 90%。 SOL 價格的大幅下跌反映出投資者在遭受長期停電和可靠性問題後對網路信心的喪失。

However, after finding a bottom around $21 in June, Solana has regained its footing above the $25 level. The cryptocurrency gained 20% over the past week, powered by strong momentum. In the past month alone, SOL has surged 71% off its lows.

然而，在 6 月觸底 21 美元附近後，Solana 又重新站穩了 25 美元上方。在強勁勢頭的推動下，加密貨幣在過去一周上漲了 20%。光是過去一個月，SOL 就已較低點飆升 71%。

With volumes exceeding $700 million and a healthy volume to market cap ratio of 0.0678, Solana sports decent liquidity metrics. As developers continue building decentralized apps on Solana, the network activity could help resuscitate Solana prices. The deep discounts from all-time highs offer speculative upside potential.

Solana 的成交量超過 7 億美元，成交量與市值之比為 0.0678，具有良好的流動性指標。隨著開發人員繼續在 Solana 上建立去中心化應用程序，網路活動可能有助於恢復 Solana 價格。與歷史高點相比的大幅折扣提供了投機性上行潛力。

Dogecoin Consolidates After Speculative Mania

狗狗幣在投機狂熱後鞏固

Dogecoin captured investor spotlight in 2021 after skyrocketing over 15,000% on pure speculative mania. However, the hyper-volatile rally was unsustainable. After peaking at $0.73 in May 2021, DOGE has bled out over 90% to current levels around $0.07.

狗狗幣在 2021 年因純粹的投機狂熱而飆升超過 15,000% 後，引起了投資者的注意。然而，極度波動的反彈是不可持續的。在 2021 年 5 月達到 0.73 美元的峰值後，DOGE 已下跌超過 90%，目前水準約為 0.07 美元。

With Dogecoin trading firmly below its 2021 highs, the highly-speculative rally appears to have largely unwound. In recent months, Dogecoin has traded range-bound between $0.06 and $0.08, lacking a clear directional bias.

由於狗狗幣的交易價格遠低於 2021 年的高點，高度投機性的漲勢似乎已基本平息。近幾個月來，狗狗幣的交易價格在 0.06 美元至 0.08 美元之間波動，缺乏明確的方向性偏差。

Compared to the glittery promises of Dogecoin proponents last year, its price action has proven rather unremarkable recently. Unless DOGE can recapture investor imagination and break out of its ranges, significant volatility or price spikes seem unlikely.

與去年狗狗幣支持者的光鮮亮麗的承諾相比，最近它的價格走勢卻顯得平淡無奇。除非 DOGE 能夠重新吸引投資者的想像並突破其區間，否則大幅波動或價格飆升似乎不太可能。

Still, with the power of memes, anything is possible in crypto. Dogecoin cannot be ruled out as a potential speculative rocket ship if mass interest reignites.

儘管如此，憑藉著迷因的力量，加密貨幣中一切皆有可能。如果大眾興趣重新燃起，狗狗幣就不能被排除為潛在的投機火箭飛船。

Polygon Exhibits Strength after Deep Correction

多邊形在深度修正後展現力量

As a scaling solution for Ethereum, Polygon (MATIC) enjoys bullish fundamentals with Ethereum ecosystem activity expanding rapidly. However, MATIC tokens faced immense pressure over the past 7 months alongside the broader crypto downturn.

作為以太坊的擴容解決方案，Polygon (MATIC) 的基本面看漲，以太坊生態系統活動迅速擴張。然而，在過去 7 個月裡，隨著更廣泛的加密貨幣低迷，MATIC 代幣面臨著巨大的壓力。

After peaking near $3 in late 2021, MATIC plunged as low as $0.71 in June 2022 - a gut-wrenching decline of 75% from highs. However, MATIC has since rallied sharply after finding its bottom. Over the past month, MATIC has surged 26% as the crypto market regained its footing.

在 2021 年底達到接近 3 美元的高峰後，MATIC 在 2022 年 6 月跌至 0.71 美元，較高點下跌了 75%。然而，MATIC 在觸底後大幅反彈。過去一個月，隨著加密貨幣市場重新站穩腳跟，MATIC 飆升了 26%。

With a reasonably strong liquidity profile, MATIC appears well-positioned to capitalize on renewed investor appetite for risk. As Layer-2 scaling solutions grab attention amidst Ethereum's high fees, MATIC could target a retest of $1.00 resistance. Its current price around $0.75 offers attractive potential upside.

憑藉相當強勁的流動性，MATIC 似乎處於有利地位，可以利用投資者新的風險偏好。隨著 Layer-2 擴容解決方案在以太坊的高額費用中引起關注，MATIC 可能會重新測試 1.00 美元的阻力位。目前其價格約為 0.75 美元，具有誘人的潛在上漲空間。

Litecoin Rebound Gains Steam

萊特幣反彈勢頭強勁

Litecoin has cemented itself as one of the most popular and recognized cryptocurrency alternatives to Bitcoin. However, LTC has faced no shortage of volatility over its history. After peaking at a record $410 in May 2021, Litecoin collapsed along with the broader crypto sphere to below $100.

However, Litecoin now appears to be back on the recovery trail. With a sizable 21% gain over the past month, Litecoin is building notable upside momentum. If the rally continues, Litecoin could retest overhead resistance around the $150 mark. With strong on-chain activity and liquidity, LTC has fuel in the tank for extended gains.

然而，萊特幣現在似乎又回到了復甦之路。萊特幣在過去一個月上漲了 21%，正在形成顯著的上漲勢頭。如果反彈繼續下去，萊特幣可能會重新測試 150 美元關卡附近的上方阻力位。憑藉強勁的鏈上活動和流動性，LTC 擁有擴大收益的動力。

Still down over 75% from its all-time high, Litecoin has enormous room for appreciation if it can revisit last year's peaks. With strong utility value for fast and cheap transactions, Litecoin appears underpriced at current levels around $94.

萊特幣仍較歷史高點下跌超過 75%，如果能重回去年的峰值，則還有巨大的升值空間。由於快速且廉價的交易具有強大的實用價值，萊特幣目前的價格似乎被低估在 94 美元左右。

Polkadot Trades Range-Bound but Promising Platform Potential

Polkadot 交易範圍有限，但平台潛力巨大

As a novel multichain network protocol, Polkadot (DOT) offers an intriguing vision for a unified decentralized web. However, over the past 8 months, DOT has failed to gain traction amidst the crypto rout. After topping out at $55 in November 2021, DOT has plunged over 90%.

作為一種新穎的多鏈網路協議，Polkadot（DOT）為統一的去中心化網路提供了一個有趣的願景。然而，在過去 8 個月裡，DOT 未能在加密貨幣潰敗中獲得牽引力。在 2021 年 11 月達到 55 美元的最高點後，DOT 已暴跌超過 90%。

Despite a sharp 15% rally over the past month, DOT remains stuck trading in a range between $5 and $6. Unless DOT can thrust higher and break out of its trading range, significant near-term upside appears limited.

儘管過去一個月大幅上漲 15%，但 DOT 仍徘徊在 5 美元至 6 美元之間的區間內交易。除非 DOT 能夠走高並突破其交易區間，否則近期的大幅上漲空間似乎有限。

However, with Polkadot’s thesis around interconnected blockchains gaining attention, the project seems well-positioned for long-term adoption. As developers build parachains on Polkadot, real-world usage could strengthen the fundamental investment case for DOT tokens.

然而，隨著 Polkadot 關於互連區塊鏈的論文受到關注，該專案似乎已經做好了長期採用的準備。隨著開發人員在 Polkadot 上建立平行鏈，現實世界的使用可以加強 DOT 代幣的基本投資案例。

Avalanche Attempts to Carve Out Support

雪崩試圖爭取支持

As a speedy smart contracts platform, Avalanche (AVAX) looked highly promising in late 2021 on the back of its blazing 3-second transaction finality. Investor enthusiasm catapulted AVAX to a record high of $145 in November 2021. However, the price action quickly soured, with AVAX entering a vicious bear market.

作為一個快速的智能合約平台，Avalanche (AVAX) 憑藉其驚人的 3 秒交易終結性，在 2021 年底看起來非常有前途。投資者的熱情使 AVAX 在 2021 年 11 月創下了 145 美元的歷史新高。然而，價格走勢很快就惡化了，AVAX 進入了惡性熊市。

Over the past 8 months, Avalanche has shed over 90% of its value. However, since bottoming out around $13 in June, the cryptocurrency has shown signs of basing and recovering. AVAX has surged 24% in the past 30 days as bullish momentum returns.

過去 8 個月，Avalanche 的價值縮水了 90% 以上。然而，自 6 月觸底約 13 美元以來，加密貨幣已顯示出築底和復甦的跡象。隨著看漲勢頭回歸，AVAX 在過去 30 天內飆升了 24%。

With a decent liquidity profile, Avalanche appears well-positioned to continue regaining ground. Moreover, with extremely low fees and fast transaction speeds, the AVAX ecosystem could be poised for growth as developers build DeFi and Web3 applications.

憑藉良好的流動性狀況，雪崩似乎處於有利地位，可以繼續收復失地。此外，憑藉極低的成本和快速的交易速度，隨著開發人員建立 DeFi 和 Web3 應用程序，AVAX 生態系統可能會不斷增長。

After its parabolic rally and subsequent comedown, AVAX prices seem attractive for accumulation at current levels around $14. But with crypto sentiment still fragile, the road to recovery may prove bumpy.

在經歷了拋物線式上漲和隨後的下跌之後，AVAX 價格似乎對目前 14 美元左右的水平具有吸引力。但由於加密貨幣市場情緒仍然脆弱，復甦之路可能會崎嶇不平。

Shiba Inu Consolidates After Astronomical Rally

柴犬在天價上漲後鞏固

The Dogecoin spinoff, Shiba Inu (SHIB), captivated the crypto world in 2021 after delivering mind-blowing returns of over 75,000,000% in a year. However, the vertical price action was patently unsustainable. SHIB has since retraced 90% from its peak, now trading for a fraction of a penny.

狗狗幣衍生品 Shiba Inu (SHIB) 在一年內實現了超過 75,000,000% 的令人驚嘆的回報，並在 2021 年吸引了加密世界。然而，垂直價格走勢顯然是不可持續的。此後，SHIB 已從高峰迴落 90%，目前交易價格僅為一美分。

In recent months, Shiba Inu has remained relatively calm, lacking any clear price trend. Range-bound action points to consolidation and a potential bottoming formation. However, with purely speculative appeal and no real utility, SHIB lacks catalysts to drive significant renewed upside.

近幾個月來，柴犬表現相對平靜，缺乏明顯的價格趨勢。區間波動表示盤整和潛在的觸底形態。然而，由於純粹的投機吸引力且沒有實際效用，SHIB缺乏推動大幅上漲的催化劑。

Barring another massive influx of retail traders, Shiba Inu prices seem likely to remain comparatively muted. The days of exponential 1,000% price spikes are likely behind. With most short-term speculators flushed out, those still holding seem inclined to hodl their SHIB tokens.

除非零售貿易商再次大量湧入，否則柴犬價格可能會保持相對平靜。價格指數 1,000% 飆升的日子可能已經過去了。隨著大多數短期投機者被淘汰，那些仍然持有的人似乎傾向於持有他們的 SHIB 代幣。

Uniswap v3 Aims to Recapture Key Levels

Uniswap v3 旨在重新奪回關鍵水平

As the largest decentralized exchange in the crypto market, Uniswap and its UNI token play a pivotal role in automated crypto trading. However, UNI has plunged severely from its euphoric highs in early 2021 above $45.

作為加密貨幣市場最大的去中心化交易所，Uniswap 及其 UNI 代幣在自動化加密貨幣交易中發揮著舉足輕重的作用。然而，UNI 已從 2021 年初 45 美元以上的高點大幅下跌。

After bottoming out around $5.50 in June, Uniswap has rebounded sharply with a 34% gain over the past 30 days. This momentum could propel a retest of the $10 level if the rally continues. UNI appears to have recommitted buyers, which should support prices as long as broader crypto sentiment improves.

在 6 月觸底約 5.50 美元後，Uniswap 大幅反彈，過去 30 天漲幅達 34%。如果反彈繼續下去，這種勢頭可能會推動重新測試 10 美元水平。 UNI 似乎已經重新承諾了買家，只要更廣泛的加密情緒改善，這應該會支撐價格。

With strong protocol usage and volumes, Uniswap seems fundamentally solid despite its 90% drawdown. As decentralized exchanges siphon activity from centralized counterparts, Uniswap looks positioned to capture significant growth in Web3 trading activity.

憑藉強勁的協議使用率和交易量，儘管 Uniswap 縮水了 90%，但它似乎基本上穩固。隨著去中心化交易所從中心化交易所吸收活動，Uniswap 預計將抓住 Web3 交易活動的顯著成長。

Key Takeaways from The Analysis

分析的主要要點

• Bitcoin Dominates but Faces Slowing Momentum - Despite being synonymous with crypto, Bitcoin has lagged alternative cryptocurrencies in recent months. Its returns appear muted and investor interest is pivotin

比特幣佔據主導地位，但勢頭放緩——儘管比特幣是加密貨幣的代名詞，但近幾個月來，比特幣已經落後於其他加密貨幣。它的回報似乎很低，投資者的興趣正在轉向

• Ethereum Leads The Pack - With Ethereum dominating DeFi and NFT activity, its thriving ecosystem could propel its valuation higher as real-world utility continues growing.

以太坊領先——隨著以太坊主導 DeFi 和 NFT 活動，隨著現實世界效用的持續增長，其蓬勃發展的生態系統可能會推高其估值。

• Solana and Cardano Poised To Recover - After facing extreme bearish pressure, Solana and Cardano seem oversold at current levels. Their strong capabilities and discounted prices offer upside potential.

Solana 和 Cardano 準備復甦 - 在面臨極端看跌壓力後，Solana 和 Cardano 在目前的水平上似乎超賣。他們強大的能力和折扣價格提供了上升潛力。

• XRP and Litecoin Rally Picks Up Steam - After deep declines to multi-year lows, XRP and Litecoin appear to be bottoming out. Their impressive rebounds point to renewed bullishness.

XRP 和萊特幣反彈勢頭強勁 - 在大幅下跌至多年低點後，XRP 和萊特幣似乎正在觸底反彈。他們令人印象深刻的反彈表明了新的看漲情緒。

• Polkadot and Avalanche Build Promising Ecosystems - Despite muted price action, Polkadot and Avalanche have built impressive decentralized web visions that could drive adoption.

Polkadot 和 Avalanche 建構了有前景的生態系統 - 儘管價格走勢平淡，Polkadot 和 Avalanche 已經建立了令人印象深刻的去中心化網路願景，可以推動採用。

• Meme Coins Consolidate After Mania Deflates - Dogecoin and Shiba Inu have stabilized after their massive rallies in 2021. Lacking catalysts, more subdued action likely lies ahead.

Meme 幣在狂熱消退後整合——狗狗幣和柴犬幣在 2021 年大幅上漲後已趨於穩定。由於缺乏催化劑，未來的走勢可能會更加溫和。

• Decentralized Exchanges Face Growth Potential - With their integral role in Web3, Uniswap and other DEXs seem primed to disrupt traditional exchanges in the years ahead.

去中心化交易所面臨成長潛力——憑藉在 Web3 中不可或缺的作用，Uniswap 和其他 DEX 似乎準備在未來幾年顛覆傳統交易所。

Conclusion

結論

Has Bitcoin's Time Passed or Will It Reclaim Dominance?

比特幣的時代已經過去還是會奪回主導地位？

While Bitcoin was the pioneering cryptocurrency, its first-mover advantage may be fading as investors embrace alternative networks with greater capabilities and speed. However, Bitcoin still maintains its digital gold narrative and role as a reserve store of value in crypto portfolios.

雖然比特幣是開創性的加密貨幣，但隨著投資者接受功能更強大、更快的替代網絡，其先發優勢可能正在減弱。然而，比特幣仍然保持其數位黃金的敘述和作為加密貨幣投資組合中的儲備價值儲存的角色。

On one hand, Bitcoin’s muted price action signals fading leadership and momentum in the space. But on the other hand, its recognition and liquidity ensure it remains the gateway into cryptocurrency investing. Ultimately, Bitcoin will likely stay influential but see its dominance slowly diluted rather than completely collapsed.

一方面，比特幣價格走勢平淡表明該領域的領導和勢頭正在減弱。但另一方面，它的認可和流動性確保它仍然是加密貨幣投資的門戶。最終，比特幣可能會保持影響力，但其主導地位會慢慢被稀釋，而不是完全崩潰。

Are Centralized Exchanges at Risk of Disruption from Decentralized Rivals?

中心化交易所是否面臨去中心化競爭對手乾擾的風險？

The rise of decentralized exchanges like Uniswap offers greater security, transparency, and accessibility compared to centralized exchanges. With no central operator in control, decentralized exchanges align better with crypto ideals and Web3 philosophy.

與中心化交易所相比，Uniswap 等去中心化交易所的興起提供了更高的安全性、透明度和可訪問性。由於沒有中央運營商控制，去中心化交易所更符合加密理想和 Web3 理念。

However, centralized exchanges like Binance still dominate trading volumes because they offer more coins, stability, and a more familiar user experience. While decentralized exchanges seem well-positioned for steady adoption, completely displacing incumbent centralized exchanges seems unlikely.

然而，像幣安這樣的中心化交易所仍然主導著交易量，因為它們提供更多的代幣、穩定性和更熟悉的用戶體驗。雖然去中心化交易所似乎處於穩定採用的有利地位，但完全取代現有的中心化交易所似乎不太可能。

The cryptocurrency ecosystem will likely support both models serving different needs. But decentralized exchanges have room to continuously capture greater market share through organic Web3 growth in the coming years.

加密貨幣生態系統可能會支援滿足不同需求的兩種模型。但去中心化交易所有空間在未來幾年透過 Web3 的有機成長來持續佔領更大的市場份額。