One more pump & dump? The blockchain Solana (Soil) experienced a meteoric growth for several months, largely thanks to The craze around the same. However, this same trend may well be playing against it. Indeed, a series of scams and rug in sweaters implying the same based on Solana has shook confidence investors, causing a significant drop in activity on the network.
The key points of this article:
The Solana blockchain underwent a significant fall of 40 % of the number of active users, mainly because of the scams and rug in sweaters linked to the same. Many investors have transferred their funds to Ethereum and Arbitrum, but some remain optimistic about Solana's ability to straighten up.
Solara declining because of unleashed same: a 40 % drop in active users
According to recent Glassnode data, the Number of active addresses on the network Solana went from a weekly average of 15,6 millions in November 2024 only 9,5 millions in February 2025. This represents a drop by almost 40 % registered activity. This decrease is mainly due to growing mistrust investors to memecoins Emitted on the floor blockchain. In addition to being a real casino to games of chance that can allow some (little) of enrich and to (a lot) others lose their moneyreal scams are set up. Notably des scams de type rug pullswhere the same creators disappear by «pulling the carpet under the feet» (that is to say, By taking the money) investors who made the mistake of trusting them.
An evil for a good: leak of capital over Ethereum, but cropping of the soil network?
Faced with these problems, many investors have started to transfer their funds to other blockchains deemed more stable. Thus, according to Debridge data, networks Ethereum (ETH) et Arbitrator (ARB) are those who seem to have the most harvested capital leaks From Solana.
Ethereum and Arbitrum took advantage of Solana's recent decline due to disinterest for the same. – Source: app.debridge.finance/analytics the same, who had initially attracted many investors are now perceived as too risky. But is it an evil for a good? Despite these difficulties, some observers remain optimistic As for the future of Solana. According to Alpha Please analyst nicknamed Aylo on X, this » purge »Could even actually be beneficial in the long term :
“Solana’s technology is so efficient that it has attracted a large number of criminals.
The technology is neutral, but humans are not.
Key protocol employees have probably been corrupt, because that's what happens to humans when they have the opportunity to earn huge sums of money in a short time, and they think it does not there will be no consequences [à leurs méfaits].
Similar things happened during the last cycle [de 2021] with [des hackers et scammers qui s’en sont pris] at Openuse [et aux NFT]in Coinbase, and others. It is a story that is constantly repeated.
But if Solana manages to overcome this crisis, and to strengthen the security of its network, it may well emerge stronger. (…) «
Ayo
The analyst thus thinks that performance of the Solana network will always attract enough developers and innovative projects to see » A resumption of activity in the coming months ». It could also be that ETF Solana in cash are clearerwhich should greatly help go back the image From this blockchain network.