Solana's Institutional Exodus Sparks 97% Trader Collapse

Solana's network activity has plummeted by an astonishing 97% since its all-time high in November 2024, when it reached $296. The cryptocurrency's price has also fallen nearly 58% during this period.

A key factor behind Solana's decline is the exit of institutional investors, with data showing that mid-sized wallets handling between $0 and $100,000, as well as institutional-sized wallets managing $100,000 to $10 million, have been in steady decline for approximately 13 months. In contrast, retail wallets have shown consistent growth over the same period.

The correlation between Solana demand and memecoin activity on the network is also noteworthy, with data revealing near-perfect correlation between the two. This suggests that smaller investors believe SOL remains undervalued despite institutional withdrawal.