Solana Loses 97% Of Traders Amid Institutional Exit
Solana's network activity has plummeted by an astonishing 97% since its all-time high in November 2024, with institutional investors largely responsible for this drastic decline.
Although retail investors continue to buy into Solana, the cryptocurrency itself has fallen nearly 58% from its peak price of $296. On-chain data reveals a stark divergence between wallet sizes and trading behavior, with mid-sized wallets handling between $0 and $100,000 and institutional-sized wallets managing $100,000 to $10 million in steady decline for approximately 13 months.
This downward trend is further exacerbated by the correlation between Solana demand and memecoin activity on the network. The revenue collapse is evident, with Solana's active monthly traders dropping from roughly 30 million to under 1 million in 2025.