Solana Validator Count Drops 68% as Costs Squeeze Small Operators and Boost Concentration

Solana's active validator set has declined by 68% in three years, dropping from a peak of 2,560 nodes in March 2023 to 795, according to Solanacompass. Smaller, independent validators report that rising operating costs and fee competition from large zero-fee operators are pushing them out, while Solana's Nakamoto Coefficient has fallen from 31 to 20 over the same period, signaling increased network concentration.