The number of validator nodes on the Solana network has decreased to 795, a significant drop from its peak of over 2,000. This decline raises concerns about the network's decentralization, as validators now require staking 160,000 SOL to break even. Smaller operators are exiting due to unfavorable economic conditions, while larger validators benefit from subsidies such as Jito's paused JTO buybacks. Additionally, a federal lawsuit and weak buybacks at low prices are restricting capital flow, contributing to the network's apparent centralization and highlighting structural issues.