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Analysis of SOL Token Distribution: 71% Staked Actively but High Concentration of Holdings
SOL Token Distribution and Holding Situation Analysis
Currently, 88% of the total supply of Solana's Token SOL is in circulation. Solana does not have a fixed token cap, and the current inflation rate is 4.395%, decreasing by 15% each year, eventually stabilizing at 1.5%.
It is worth noting that 71% of the circulating SOL is in active staking, a figure that is much higher than Ethereum's 30%. However, there is some controversy regarding the number of locked SOL tokens. Some data sources indicate that 11.2% of the tokens are locked, while others suggest that almost all tokens have been unlocked, with only about 600,000 SOL possibly still in a locked state.
In terms of major holders, data shows that a certain exchange holds approximately 4.7% of the total supply of SOL. Other significant holders include some well-known exchanges and institutions, such as Jito, Marinade Finance, and others. Overall, the top holders account for more than 20% of the circulating supply.
The Solana Foundation allocated approximately 35.6 million SOL (6.6% of the circulating supply) to 542 validators to promote network decentralization. Professionals estimate that validators need to stake at least 50,000 to 75,000 SOL to be profitable.
Interestingly, only 14.3% of staked SOL comes from liquid staking tokens (LST), which to some extent limits the growth potential of decentralized finance (DeFi) on Solana. If more natively staked SOL shifts to LST, it could significantly enhance the scale of Solana's DeFi ecosystem.
Regarding the distribution of individual holders, although there may be some errors in the data, it roughly shows a high concentration: about 0.33% of wallets control 54% of the SOL supply. However, this figure includes portions held by exchanges and institutions. Meanwhile, 97.4% of wallets hold less than 1000 SOL, accounting for a total of 24.8% of the total supply, reflecting a strong retail participation.
Overall, the holding situation of SOL shows a certain degree of concentration, but there is also a broad retail base. As the ecosystem continues to develop, especially with the potential growth in the DeFi sector, the distribution of SOL may further evolve.