Solana Suffers 97% Trader Decline as Institutional Money Exits
Solana's network activity has experienced a significant decline since its all-time high in November 2024, when it reached $296. The cryptocurrency has fallen nearly 58% from that peak and lost 97% of its traders in 2025 as institutional investors withdraw their funds.
The data reveals a stark divergence between wallet sizes and trading behavior, with mid-sized wallets handling between $0 to $100,000 and institutional-sized wallets managing $100,000 to $10 million steadily declining for approximately 13 months. In contrast, retail wallets have shown consistent growth over the same period.
A correlation exists between Solana demand and memecoin activity on the network, with near-perfect alignment between the two. The decline in institutional investment has led to a fivefold year-over-year drop in revenue from $2.5 billion in 2024 to $500 million in 2025.
Ethereum outperformed Solana by 56% year-to-date, generating $1.4 billion in revenue this year. Trader Jas stated that 'SOL's future may depend less on memes and more on what follows them.'