409mln SOL staked and counting – Is market missing Solana’s signal?
Solana fundamentals stay robust regardless of the weak worth motion of SOL. The community not too long ago reached a brand new all-time excessive of 409 million SOL staked provide.
This meant the chain’s safety elevated, however whether or not decentralization additionally improved was the massive query.
Supply: Blockworks
Solana validator disaster
In a transfer to make sure sustainable staking economics, the Solana Basis minimize off subsidies that had been beforehand supplied to some validators (entities tasked with proposing blocks on the community).
Up to now, the Solana Basis has lowered its delegated Solana [SOL] from 85 million SOL to 23 million SOL delegated to small validators.
Supply: Blockworks (Solana Basis delegated SOL)
Whereas a needed step, the Basis’s transfer has additionally pressured most small validators to depart the staking house. Solana community validators have decreased by 68% from 2,500 to 800, prompting some to flag it as a decentralisation threat if the pattern continues.
For comparability, Ethereum [ETH] has practically 1 million validators or 1,250 occasions extra validators securing its community.
Solana RWA traction spikes
That mentioned, community exercise can also be rising in response to the real-world asset (RWA) tokenization. The variety of RWA holders throughout the Solana ecosystem reached a file stage of over 115K, a 11% surge prior to now 30 days regardless of a broader market lull.
Supply: RWA
This meant a rising demand for tokenised belongings, equivalent to on-chain shares, credit, and cash markets, amongst others.
Nonetheless, based mostly on RWA web flows, Solana has lagged behind different chains. In Q4 2025, Solana attracted $216 million in web flows. In distinction, opponents like BNB Chain [BNB] and Ethereum every attracted +1 billion in inflows, suggesting a six occasions outperformance.
Supply: RWA
Surprisingly, Solana RWA customers had been near Ethereum’s 138K holders however means increased than BNB Chain’s 8K holders, however lagged behind in web flows. This meant BNB Chain RWA customers had been large gamers, therefore able to shifting giant flows regardless of having a comparatively small variety of holders.
Nonetheless, SOL’s worth was not reflecting the bettering community fundamentals talked about above. The token’s worth has dropped by 58% and traded at $121 on the time of writing.
Remaining Ideas
- Solana’s staked provide and RWA exercise reached file highs in 2025.
- Nonetheless, validators have dropped by 68% and SOL’s worth additionally tanked by 58%.
