$SOL Reality Check 🚨

Solana has lost 97% of active traders in 2025, dropping from ~30M to <1M.

On-chain data shows institutions exiting for over a year, while retail keeps buying.

Network revenue fell 5x YoY ($2.5B → $500M).

Memecoin activity once drove demand — now that fuel is fading.

SOL’s next chapter won’t be memes.

It’ll be real usage or nothing.