Solana experienced several external hardships in Q4 2022, thanks to the FTX collapse. Consequently, many want to know how investors are reacting since the debacle. What developments have occurred since? Leveraging our Staking Rewards API data, we look closely at Solana staking and validator activity to gain insights beyond price movement. We believe staking and validator activity are important areas to explore because they assess investor belief in Solana beyond holding completely liquid tokens. In addition, exploring the Solana validator set helps us ensure there are no structural red flags ahead and provides insights into the validator business.