🔥 SOLANA “FELL” 87% TRADER – HAS THE MONEY FLOW WITHDRAWN OR IS IT JUST BEING CLEANSED?
On-chain data from Dune shows that the number of DEX traders on Solana has dropped by as much as 87% compared to the peak in January 2025 – from about 4.8 million active wallets down to ~625,000 current wallets.
The main reason comes from the boom–bust cycle of memecoins:
At the beginning of 2025, Solana exploded thanks to low fees, high speed, and a plethora of easy token creation tools.
The retail wave poured into memecoin trading, pushing the number of traders to a record high.
Then came rug pulls, scams, quick liquidity withdrawal, causing most small investors to incur losses and be forced to exit the market.
Things to note:
The decline does not mean Solana is “dead,” but reflects the process of cleansing short-term speculative money flows.
The ecosystem remains active with a group of “remaining” users, who have capital and clearer strategies.
In previous cycles, Solana often weakened significantly after the memecoin mania before stabilizing.
Conclusion:
The sharp decrease in the number of traders is a negative signal for short-term speculation, but for medium–long term investors, this could be a period of filtering noise, re-evaluating, and selecting truly valuable projects. I am still buying more $SOL
