Solana active addresses fall to 2.89M as bullish sentiment hits January highs, with 3.2 bullish comments per bearish post.
Solana active addresses fell from 5.01 million in early February to 2.89 million in the latest week, while bullish sentiment reached its highest level since January.
The shift shows a split in Solana market activity. Fewer wallets are moving SOL, yet online discussion has turned more positive.
Traders are now watching whether lower network use can recover, as sentiment and volatility point to a quieter market phase.
Solana Active Addresses Drop From February High
Solana active addresses have declined sharply from the early February peak. Weekly active addresses dropped to 2.89 million in the most recent reading.
That compares with 5.01 million at the earlier high. The fall suggests fewer wallets are transferring SOL on the network.
It also comes as Solana remains the seventh largest crypto asset by market value. The token has struggled to match Bitcoin and some large-cap peers.
📊 Solana’s active addresses per week has dropped from a high of 5.01M in early February, to just 2.89M in its most recent week. Fewer wallets are transferring $SOL, as the #7 market cap in crypto has been stagnating.
Conversely, the sentiment toward Solana has skyrocketed to… pic.twitter.com/8bUYuoCHec
— Santiment Intelligence (@SantimentData) May 5, 2026
Lower active addresses can point to weaker network utility. It may also reflect slower trading, fewer user transfers, or reduced on-chain demand.
Market watchers often track this figure to judge blockchain use.
The current decline does not confirm a long-term trend by itself. However, it has drawn attention because it follows a strong period for Solana activity.
Bullish Solana Sentiment Reaches January High
While network activity has slowed, sentiment around Solana has improved. Data cited in market discussions shows about 3.2 bullish comments for every bearish comment.
These comments were tracked across X, Reddit, Telegram, and other platforms.
The level marks the highest bullish reading since January. The change shows that traders are becoming more positive, even as active addresses fall.
This creates a mixed picture for the Solana market. Some discussions say Solana may be ready for a breakout.
The view is tied to its weaker performance against Bitcoin and other major tokens. Supporters also point to a possible return toward past price trends.
Still, future price action may depend on network use. A recovery in transactions and active wallets could support the bullish view.
Without that, positive sentiment may remain separate from on-chain activity.
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Volatility Collapse Points to a Quieter SOL Market
SOL volatility has fallen to 35.5%, according to the figures shared by market analysts.
Lower volatility means price swings have become smaller. It may also show reduced short-term trading stress. Some analysts link this calmer market to stronger holders.
They argue that fewer quick trades can reduce sudden moves. In this setting, price action may stay narrow until fresh momentum arrives.
Solana is getting quieter.
I think $SOL volatility collapsing to 35.5% is one of the clearest signs that the market is being absorbed by stronger hands.
ETF inflows above $1B and long term holder supply jumping from 524K to 2.58M SOL are removing a lot of short term chaos.… pic.twitter.com/v2aIRGLblJ
— Rios (@Riosweb3) May 5, 2026
ETF inflows above $1 billion have also been cited as a factor. These inflows may reduce available supply for short-term sellers.
At the same time, long-term holder supply reportedly rose from 524,000 SOL to 2.58 million SOL.
This shift suggests more SOL is being held for longer periods. It can lower short-term chaos, but it may also slow breakout speed.
Traders may need stronger demand before volatility expands again.
