Every available metric across the Solana blockchain is now negative.

Decline in user activity, decline in price, and decline in trust, too.

In February 2025, Solana registered a weekly average of 9.5 million active addresses.

In November 2024, that number was nearly double, 15.6 million active addresses.

This is, in part, due to the fact that Solana has seen a surge in various memecoins, most of which were rug pulled.

This is not good. But the worst part is there's not much we can do about it.

People clearly never learn, and clearly keep making dumb financial decisions.

In the last few months alone, we've seen people lose significant amounts of money on easily avoidable memecoins, chief among which was the Hawk Tuah memecoin.