Solana's daily active validators have fallen below 800, a decrease of over 65% from its peak in 2023.

According to Mars Finance, the number of daily active validators on Solana has fallen below 800, returning to 2021 levels. This represents a decline of over 65% from the peak of approximately 2,500 validators at the beginning of 2023. Validator voting transaction volume has decreased by 40%, from approximately 300,000 transactions per day to 170,000. The primary reason for this validator exodus is the changing economics, including the diminishing returns on voting costs provided by the Solana Foundation Delegation Program and the staking matching policy over time. Despite the shrinking number of validators, non-voting transaction volume, such as user-initiated DApp interactions and token transfers, remains stable at approximately 100,000,000 transactions per day.