Solana

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.

On January 28, 2026, Coinbase integrated Jupiter Exchange into its on-chain trading stack, enabling customers to trade Solana-native tokens using existing account balances and payment methods via self-custodial wallets. Under the new setup, Jupiter aggregates liquidity across Solana DEXs and executes trades on-chain, while Coinbase focuses on distribution, fiat on- and off-ramps, and user experience. The move comes alongside strong crypto M&A activity in 2025, including Coinbase's reported $2.9 billion acquisition of Derbit.

Gold set a fresh record above $5,600 per ounce after a 4% rally that followed a 4.6% surge the prior session, extending weekly gains to over 10%. Spot prices are up 28% year to date, with silver nearly 65%. Bitcoin fell to $88,000 as ETH slipped below $3,000 and SOL declined more than 3%.

Grayscale's parent DCG recently sold 18,862 GSOL shares it acquired in September 2024, valued at over $170,000. The move has prompted debate about whether it reflects routine liquidity or growing caution. Meanwhile, SOL climbed 3.2% in the past 24 hours from the $120 area, with $125 now a key level to hold.

Solana's validator set has contracted from around 2,500 nodes to fewer than 800, intensifying worries that stake is concentrating in large zero-fee operators. Many smaller validators report that reduced stake-pool income and a roughly 50% drop in foundation matching have pushed their operations into sustained losses, while SOL's price remains range-bound around $125.97 with key levels between $120 and $150 in focus.

On Wednesday, WisdomTree expanded its tokenized funds to the Solana blockchain, with access through its WisdomTree Prime and WisdomTree Connect platforms. The announcement was updated on January 28, 2026, and, according to Nick Ducoff of the Solana Foundation, real‑world assets on Solana have surpassed $1 billion.

On the 3-hour chart, Solana formed a death cross as the 50-period moving average fell below the 200-period. SOL trades at $125.42 and is down 12% for the week, according to CoinGecko. Analyst Ali Martinez highlights $129 as a pivotal close for a potential shift, noting $804 million in recent stablecoin inflows.

As of January 28 2026, Solana's active validator count has reportedly fallen below 800, down sharply from around 2,500 in early 2023. Over the same period, daily vote transactions, a proxy for validator participation, have declined by about 40%. The Solana Foundation's pruning policy and reduced subsidies have pushed out many smaller or underperforming validators, raising debate over decentralization versus network performance.

On January 28, 2026, Solana said WisdomTree expanded access to regulated tokenised funds on its network. SOL trades in the mid-$120s, with support near $117 and a key ceiling at $130 that has capped recent attempts to advance. Rising on-chain activity and memecoin engagement are lifting usage, though speculative risks persist.

Solana’s meme token segment has entered a fresh upswing, with Pump.fun and PumpSwap reportedly producing $5.4M in daily fees and surpassing Hyperliquid’s 24-hour revenue. Meme token creation and trading have climbed back toward an 11-month peak, with more than 320,000 addresses and 13,690 creators returning, while legacy tokens like WIF, PENGU, and PIPPIN see renewed activity.