74.12 percent of all SOL is staked: Solana's free float now sets the price

The analysis: 437,116,782 SOL are sitting in staking. That is 74.12 percent of all tokens in circulation, and they cannot simply be sold on a Friday evening. Here is the evidence: our own query of the Solana mainnet on Friday evening returns 437,116,782 staked SOL against 589,708,989 tokens in circulation, spread across 664 active validators. Our assessment follows further down: this lock-up explains why the price barely gives way on quiet days and swings all the harder on hectic ones. Where the price can point over a horizon of months is set out in our Solana price prediction.