1月28日消息,2026 年初加密貨幣市場情緒持續低迷,部分山寨幣的表現尤為承壓。VanEck 推出的美國現貨 Avalanche(AVAX)ETF 首日表現平淡,未錄得任何資金淨流入,全天成交額僅約 33 萬美元,引發市場對山寨幣 ETF 實際需求的討論。
對比來看,其他同類產品的首秀形成鮮明反差。Bitwise 推出的 Solana 相關 ETF 於去年 10 月底上線,在市場劇烈波動後仍吸引約 6900 萬美元資金流入,成交額接近 5800 萬美元。11 月中旬,Canary Capital 推出的首只 XRP 現貨 ETF 上線首日吸金約 2.45 億美元,Grayscale 的 LINK ETF 也獲得約 4100 萬美元的資金關注。相比之下,AVAX ETF 的“零流入”顯得格外刺眼。
這一結果究竟意味著啟動節奏偏慢,還是反映出市場對中腰部山寨幣 ETF 的真實態度,目前仍難下定論。Bloomberg 分析師 James Seyffart 指出,市值排名靠前的加密資產未來大概率都會推出 ETF 產品,但他個人更傾向於指數型方案,而非單一資產。
從情緒指標來看,AVAX 上市期間正處在明顯的悲觀區間。其恐懼與貪婪指數一度跌至 20,隨後僅小幅回升至 29,整體仍處於“恐慌”狀態。ETF 的推出並未明顯扭轉市場預期,投機資金依舊保持謹慎。
衍生品數據同樣印證了需求疲軟。自去年 10 月初大幅回調後,AVAX 的未平倉合約量從接近 10 億美元快速萎縮,目前長期低於 2 億美元,顯示無論現貨還是期貨市場,新增參與意願都較為有限。價格方面,AVAX 近期僅小幅反彈約 2%,仍在 11 至 15 美元區間內震盪。
目前,多頭正嘗試守住 11 美元附近的關鍵位置,但市場對 ETF 相關消息反應冷淡,令反彈持續性面臨考驗。若區間下沿失守,價格波動風險可能進一步放大,短期走勢仍需觀察資金面是否出現實質性改善。
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