SOLANA’S GROWTH STALLS: NEW HOLDER COUNT DROPS BY 2.3 MILLION AMID RISING EXCHANGE INFLOWS

Solana (SOL) is facing a significant cooling of its once-explosive onboarding momentum as of February 15, 2026. Data reveals that the number of new addresses investors completing their first transaction has plummeted by 23%, a loss of 2.3 million potential new holders in just four days. This decline in network expansion is being compounded by a shift in existing holder behavior, with roughly 1.4 million SOL ($117 million) moving onto exchanges over the last 48 hours. Currently stuck in a consolidation range between $78 support and $89 resistance, Solana’s price recovery appears fragile as sell-side pressure mounts and speculative demand wavers. Onboarding Exodus: A 2.3 Million Decline in New Users The rapid expansion that defined Solana earlier in the year has hit a notable structural roadblock. Slowing Momentum: From a peak of nearly 10 million new addresses, the network has seen its daily onboarding rate drop to 7.62 million. This 23% contraction suggest that prospective buyers are no longer willing to “chase” the market and are instead waiting for a definitive technical breakout.Confidence Gap: A reduction in new address growth often precedes periods of stagnation. Without a constant influx of fresh capital to absorb the distribution from older holders, Solana may struggle to sustain even minor relief rallies. Sell-Side Pressure: $117M in SOL Hits Exchanges Existing holders are showing increasing intent to liquidate or hedge their positions as the broader market remains uncertain. Rising Inflows: Over the past two days, exchange net position change data has turned sharply positive, with 1.4 million SOL transferred to trading platforms. In a range-bound or bearish environment, these inflows typically act as a cap on any potential upward price movement.Profit-Taking Risk: If SOL approaches its overhead resistance, these newly deposited coins are likely to be sold, reinforcing the current $89 ceiling. Technical Roadmap: The $78–$89 Consolidation Zone Solana is currently navigating a narrow horizontal channel, with its mid-term fate tied to several critical support and resistance levels. The $78 Floor: This is the absolute “must-hold” support. A daily close below $78 would confirm the continuation of the bearish structure and likely target a deeper drop toward the $67 zone.The $89 Resistance: To restore bullish sentiment, SOL must first break above $89. A successful breakout would target $97, with a move past $105 required to fully invalidate the bearish macro-thesis.Midpoint Stability: At the current price of $86, SOL is hovering near the top of its range, but the lack of new buyer support makes a breakout unlikely without a significant market-wide catalyst. Essential Financial Disclaimer This analysis is for informational and educational purposes only and does not constitute financial, investment, or legal advice. Reports of a 2.3 million decline in new Solana addresses and the $117 million in exchange inflows are based on on-chain data and third-party analysis as of February 15, 2026. New address metrics and exchange flows are probabilistic and do not guarantee future price performance. Solana remains a high-risk asset subject to extreme volatility; the recent 23% drop in onboarding momentum highlights the potential for prolonged stagnation or capital loss. Always conduct your own exhaustive research (DYOR) and consult with a licensed financial professional before making significant investment decisions in Solana or digital assets.

Do you think the 2.3M drop in new users is a sign that the “Solana Hype” is over, or is this just a healthy reset before a push to $100?