Solana price holds steady at $114: What holders focus on five days before Alpenglow upgrade

2026年9月23日索拉纳（Solana）价格分析与税务指南

截至2026年9月23日德国时间18:45，索拉纳（SOL）的价格为114.55美元（约合100.56欧元）。这一价格较前一日下跌了2.2%，但较七天前仍上涨了17.7%。因此，任何持有SOL的投资者都经历了一个强劲的周度和一个疲软的单日行情。然而，比价格本身更值得关注的是：距离网络多年来最大规模升级的功能闸门开启仅剩五天，且本周起，所有在九月买入的SOL所对应的税务持有期时钟已重新计时。这两点都是今天可以核实的事项，而价格仅仅是引发这些关注的契机。

9月23日SOL价格表现：七天内上涨17.7%

上述数据源自CoinGecko市场数据库，采集时间为2026年9月23日UTC时间16:45（即德国时间18:45）。SOL报价为114.55美元。当日最高价为119.66美元，最低价为113.31美元。市值约为673亿美元，过去24小时交易量达53.3亿美元。

In the past week, the increase was 17.7%; in the past month, the increase was 18.7%. Looking back at the increase a week ago, the price was about $97. As a result, the entire range of fluctuations for the week is roughly between $97 and $119.66. Currently, SOL is still 60.9% away from its historical high of US$293.31. This is one of the most uncomfortable numbers in this article, and deserves to be emphasized at the beginning: while the 17.7% weekly increase sounds like a reversal of trend, it only shortens the distance between prices and records by a few percentage points.

Today's 2.2% retracement is not an isolated incident. During the same period, Bitcoin fell 2.5%, Ethereum fell 2.7%, and XRP fell 3.3%. As a result, SOL fell slightly less than other mainstream assets and remained ahead in the weekly rankings. If you take aggressive action just because of a single-day loss, you are measuring noise, not signals.

Two factors driving this week's SOL price rise

There are currently two key factors that are developing in parallel. One is at the web level: Development company Anza (the leading widely used Agave client) released a release plan for version 4.3 in August and set September 28 as the date for activating the new consensus program on the main web. This is a day that market participants have been counting down for weeks.

其二是供应层面。根据Staking Rewards的分析服务，网络的通胀率为4.9%，质押比例为流通供应量的69.32%。这意味着近七成SOL被锁定，短期内无法进入市场流通。同时，开发者社区正在讨论通过标识符SIMD-0411将通缩率从每年-15%加倍至-30%。这将把达到1.5%目标通胀率的路径从六年缩短至约三年。需要指出的是，截至9月17日，这一切换尚未在主网上激活，它目前只是一个提案，而非生效的网络规则。

在这两个语境中都会出现一个术语，值得简要定义：“功能闸门”（Feature Gate）是协议中的一个开关，它在设定时间点激活已经交付的功能。软件预先安装在验证者机器上，只有当足够的质押权重翻转该开关时，它才会生效。

此时有两个时钟在同时运行：9月28日的功能闸门，以及每笔新买入SOL的一年持有期。

Alpenglow将于9月28日开放：委托人在此之前应检查的事项

“Alpenglow”是该共识 overhaul 的名称。它将用新的投票协议Votor取代之前的TowerBFT程序。具体效果是：交易的最终确定性（Finality）预计将从约12.8秒降至约150毫秒。“最终确定性”指交易实际上不可逆转的时刻。同时，网络的容错率从33%提升至40%。这意味着在网络停滞之前，它可以容忍更大比例的故障或恶意验证者。

For the principal (i.e., the person who provides his SOL to a third-party verifier), this leads to a specific check step:

1. Is the verifier running a client version that supports this switch? Verifiers running outdated versions on deadline dates may miss blocks, resulting in lower returns for everyone who entrusts funds to them. You can find version details on the verifier pages of common web browsers.
2. What is your validator commission and has it changed recently? Temporary commission increases are the most common reason for silent declines in earnings.
3. How big is the pledge weight bundled by your validator? Large verifiers, while convenient, can concentrate network risk. We detailed the timetable and requirements in our evaluation of Alpenglow activation.

To be clear: this date is not a price forecast. An agreement upgrade with a known date of several weeks has mostly been priced by the market. If you buy on the eve of September 28, you are buying information that others already have.

Holding period under Article 23 of the Income Tax Act: Participation in the September rally will restart the clock

Here price changes translate into tax issues. In Germany, if a cryptocurrency held in private assets is sold and acquired by more than one year, the proceeds of the sale are exempt from tax (in accordance with Article 23 of the Income Tax Act). Early sales are subject to tax and apply to your personal income tax rate instead of a flat 25% withholding tax.

This week's rally likely triggered new buying. Each purchase starts its own one-year clock. For example, people who buy on September 18 will not be able to sell duty-free until September 19, 2027 at the earliest. This may sound trivial, but it is often ignored in practice because many investors view positions as a block rather than a series of increments recorded separately by date.

While the data is fresh, two things should be recorded today: First,, the acquisition date of each batch (accurate to the day); Second,, the price in euros at the time of purchase, not in dollars. The tax department calculates in euros. If it is later reversed from the US dollar price, it will introduce a source of error that is difficult to eliminate afterwards. Portfolio trackers can help you handle this kind of bookkeeping; see our overview of crypto tax software and portfolio trackers for tools that provide German reporting.

Regarding the order of sales, the general rule is that each wallet belongs separately, otherwise the first-in, first-out method (FIFO) is used. Therefore, which batch you sell together determines whether the proceeds fall into the tax net. If you hold an old position well over a year and a new position for this week, you should sort this out before selling, not remedy it afterwards.

Pledge rewards belong to a separate income category and are calculated based on the euro value at the time of creation

Pledge yield of 6.0% to 6.7%: When will the 256 euro tax exemption threshold be exceeded

在税务方面，质押奖励与价格收益不同。根据《所得税法》第22条第3款，它们被视为其他服务收入。适用每年256欧元的免税门槛。所谓“免税门槛”意味着：低于此门槛，全额免税；达到或超过此门槛，全额应税，而不仅仅是超出部分。这与“免征额”有本质区别。

每笔奖励都在产生时刻按欧元估值。这正是本周价格涨势影响你税表的地方。以今日数据为例：1 SOL成本为100.56欧元。因此，约2.55 SOL的奖励即可达到256欧元门槛。Staking Rewards报告显示9月23日的奖励率为6.67%；同周其他调查显示约为6.0%。取区间值：在年化收益率6.0%至6.7%的情况下，你需要质押约38至42枚SOL，才能在一年内突破该门槛。

一个月前，同样的计算结果不同。当时SOL低18.7%，假设欧元兑美元汇率不变，每枚SOL约合85欧元。那么阈值仅在约3 SOL奖励时才会被触及，为此你需要质押约45至50枚SOL。因此，价格涨势无需你做任何操作，就将门槛降低了约7至8枚SOL。这也正是为何此项检查应出现在价格文章中，而非截止申报日前一周的原因。

两个常被遗漏的补充点：256欧元适用于《所得税法》第22条第3款下的所有收入总和，而非每枚硬币或每个交易所。如果你除了SOL还质押或借贷其他资产，必须将它们加总。此外，收到的硬币从产生那一刻起，开始其自身的一年持有期。联邦财政部在2025年3月6日的通告中确认，质押和借贷不适用十年延长规定。这个问题曾悬而未决多年，现已尘埃落定。

验证者佣金：质押收益率还剩多少

引用的奖励率是毛收益。验证者的佣金从中扣除，这是运营商保留用于运行节点的部分百分比。零至10%的值很常见。以上限估算为例：5%的佣金使6.67%降至约6.34%；10%的佣金则降至约6.0%。

这一差异看似微小，按年计算也确实如此。但当毛收益率自然下降时，它就变得相关了。这正是未来将要发生的情况：奖励由网络通胀提供资金，而通胀正按计划递减。关于下降支付决定的具体含义，详见我们对索拉纳质押收益率下降的分析。今天支付10%佣金的人，当毛收益率降至4%时仍需支付10%。最佳质押平台的比较中提供了提供商及其条款的概览。

关于区别的备注：通过中心化交易所进行质押和自我从钱包委托，在税务上属于同一类收入，但在交易对手风险上差异巨大。在交易所，提供商持有密钥。自我委托时，密钥由你保留，验证者仅获得投票权，永远不控制硬币。

在MiCA下购买：如何识别授权交易所

当价格上涨时，人们买入，投资者经常发现自己使用了在德国已不再被允许运营的提供商。欧洲《加密资产市场法规》（MiCAR）自2024年12月30日起直接适用。德国通过《加密市场监管法》缩短了过渡期：根据该法第50条，过渡期已于2025年12月31日结束。自2026年1月1日起，没有MiCA授权的加密服务提供商不得在德国提供服务。

检查只需两分钟。在BaFin的公司数据库或ESMA的欧洲注册表中查找提供商。如果未列为授权加密服务提供商，这不仅是法律问题，更是你的实际问题：在争议中你没有监管途径，且存款保护无论如何不适用于加密资产。哪些交易平台拥有欧洲授权，见我们的受监管加密交易所概览。

注意执行路线。通过差价合约或证书购买不会给你SOL，而是给你一个对发行人的索赔。你无法用它进行质押，且适用不同的税务规则，即投资收入的统一预扣税。因持有期而买入的人必须实际拥有硬币。

托管与解质押：为何你的SOL不能立即出售

委托的SOL并非立即可用。停用委托仅在当前周期结束时生效，而索拉纳的一个周期通常持续两到三天。因此，想在高点卖出的人无法立即动用质押持仓。在你的决定和可用余额之间，隔着当前周期的剩余时间。

由此产生一个简单的拆分策略，这也是许多投资者采用的方式：一部分持仓用于质押获利，另一部分保持流动以便行动。这两部分的大小取决于你的个人情况，而非互联网上的经验法则。

关于托管本身：持有大量资金的人不应留在交易所。硬件钱包将私钥与联网计算机分离，也可以从硬件钱包进行委托。恢复短语至关重要：离线保存，存放在两个物理分离的地方，切勿作为照片或文本文件存储在设备上。

上方与下方的水平位：$119.66对抗$113.31

今天值得关注的水平位是测量值，而非画出的线条。向上看，下一个相关数字是日内高点119.66美元。它位于整数关口120美元下方，且价格在当前尝试中尚未突破该关口。只要情况如此，过去七天的走势就是一个范围内的强力复苏，而非确认的突破。

Looking down, the first figure is an intraday low of $113.31. Below it is the middle of the weekly range, about $108, and below it is the starting point of the trend, about $97. Falling back there will erase the entire weekly gain without requiring any changes on the network. This is also part of an honest interpretation of the 17.7% increase in seven days.

The basis for these three values is deliberately narrow: intraday highs and intraday lows are collected from real-time trading, and weekly starting points are calculated retroactively from weekly changes. Beyond these will be expectations, and expectations should be attributed to names rather than presented as facts.

Summary: Points for checking Solana prices

• Record the date and euro price for this week's batch. Each purchase starts its respective one-year clock under Section 23 of the Income Tax Act. Recording this today avoids the trouble of reconstructing the data next year. See Comparison of Crypto Tax Software and Combination Tracker for related tools.
• Compare your pledge reward to the 256 € tax-free threshold. At a price of 100.56 euros and a yield of 6.0% to 6.7%, approximately 38 to 42 SOL pieces pledged will break the threshold within one year. Also check the verifier's commission, as it will be deducted from the gross income. See the comparison of best pledge platforms for provider terms.
• Check the verifier's client version and exchange authorization by September 28. 运行过时版本的验证者会损失奖励，而没有MiCA授权的提供商自2026年1月1日起不得在德国为你提供服务。授权交易场所列于受监管加密交易所概览中。

你可以自行阅读法律依据：《所得税法》第22条中关于其他收入的免税门槛，以及联邦财政部2025年3月6日通告中关于质押和借贷的处理。

（截至2026年9月23日。本文不构成投资建议。价格和费用结构会发生变化；购买前请与提供商核实条款。）