- Solana wallets holding 0.1 SOL dropped by 300K over the past week.
- Despite wallet declines, the price of Solana rose to $137.83.
- The market dynamics suggest fewer wallets but growing interest in SOL.
Another thing to note is active accounts which have dropped from 11.11 million to 10.83 million. Though the number of addresses declined, Solana’s prices rose. As of April 17, 2025, the number of Solana addresses having at least 0.1 SOL was caught at 11,110,271. On April 20, 2025, the number then dropped to 10,829,575, even as the price rose from $134.87 to $137.83 per SOL.
This trend raises questions about the general state of health of the Solana network. Price is moving up but the declining number of active wallets that hold SOL could indicate an altered mood from the market side. What does this decline in number of wallets suggest for Solana’s long-term growth?
Wallets Numbers Are Down Despite Price Growth
Has shown a very slight downfall over the last weeks the number of wallets-with 0.1 SOL or more. At April 17, 2025, the figure stood at 11,110,271 wallets. That number has dropped to 10,829,575 by April 20, 2025. This winds up as a decrease of almost 300,000 wallets in just a few days.
Over the period in which the costs of Sol rose, i.e., from $134.87 to $137.83, the number of wallets fell. This price hike could mean the remaining holders feel much more highly about the asset. But, the wallet numbers being fewer may mean that smaller holders are exiting while larger ones are staying or entering.
These kinds of movements in wallet numbers could show a change in use on the part of Solana in the crypto ecosystem. Sure, the declining wallet counts may alarm, but the increasing price probably indicates excellent bullish support from larger investors or perhaps a shift to institutional investment.
Effect of Reduced Wallet Numbers on Market Psychology
The drop in number of wallets-which hold Solana-is certainly an exciting development for both investors and analysts. It is a clear perception towards reduced retail participation. Maybe, this is due to other factors such as dampened enthusiasm or market speculation. This could indicate a small movement away from Solana by small investors.
Nevertheless, a price rise such as this at the same time could suggest some institutional entry among the major players. Higher price calls and fewer wallets would mean a fall with the tread of Sol becoming more appealing for larger players who envisage its long-term potential. He can also indicate the increasing attention of institutions or larger investors toward Solana despite retreating smaller players.
Such price hikes may also result from Solana’s bettering network report or from general market trends. More rising institutional involvement would likely continue to boost Solana prices. Still, less wallet holding might lead to lower retail participation.
