Solana Loses Two-Thirds of Validators as Smaller Nodes Exit, Raising Centralization Concerns

Solana has seen a steep decline in the number of validators securing the blockchain, a trend that industry participants say is being driven by rising costs for smaller operators.

Data from Solanacompass shows that the number of active Solana validators has fallen 68% over the past three years, dropping from a peak of 2,560 nodes in March 2023 to just 795 as of this week.

Validators play a central role in the network, proposing and confirming blocks and ensuring transactions are processed correctly.

Rising Costs, Not Just “Zombie” Nodes, Drive Validator Decline

Some of the reduction reflects the cleanup of inactive or so-called “zombie” nodes, but operators say that alone does not explain the scale of the drop.

Instead, they point to rising operating expenses and fee competition that has made it difficult for independent validators to break even.

An independent validator who posts under the name Moo said on X that many smaller operators are considering shutting down.

“Many small validators are actively considering shutting down (including us). Not due to lack of belief in Solana, but because the economics no longer work,” Moo wrote.

According to the post, large validators offering zero-fee services are squeezing margins and forcing smaller players out of the market.

The Solana validator count has fallen to sub-800, down from ~2,500 at its peak. That is a ~70% drop.

Some KOLs have argued this is simply “zombie” validators being flushed out by @SolanaFndn. That is partly true, and the cleanup IS healthy. But it only explains part of what is… pic.twitter.com/Pousxs5QKm

— Moo | Elemental (@moothefarmer) January 28, 2026

The result, critics argue, is a network increasingly secured by a smaller number of large operators.

“We started validating to support decentralization. But without economic viability, decentralization becomes charity,” Moo added.

The shift raises questions about whether retail validators can continue to play a meaningful role in securing Solana over the long term.

Nakamoto Coefficient Signals Concentration

The fall in validator numbers has been mirrored by a decline in Solana’s Nakamoto Coefficient, a commonly used measure of decentralization.

Solanacompass data shows the coefficient has dropped 35%, from 31 in March 2023 to 20 this week.

The metric estimates the minimum number of independent entities required to disrupt the network, with a lower number indicating greater concentration.

The slide suggests that stake and influence are becoming more clustered among fewer validators.

Rising costs appear to be a major factor. Excluding hardware and server expenses, operators need to commit at least $49,000 worth of SOL tokens to cover their first year, largely due to voting fees required to participate in consensus.

Validators must submit a vote transaction for each block they approve, a process that can cost up to 1.1 SOL per day, according to technical documentation from Solana’s validator client.

Meanwhile, Solana has seen a pickup in on-chain activity even as SOL prices ease, driven by rising interest in AI-focused tokens across the network.