Stranger Things Season 5 Volume 2 ending explained: Will’s truth, Max’s return, and a deep dive into the Abyss before the final battle

Released on December 26, 2025, Stranger Things Season 5 Volume 2 significantly altered the series' canon. This volume, containing episodes 5, 6, and 7, sets the stage for the approaching series finale. As it puts the Hawkins survivors in their most dangerous situation to date, it also answers long-standing doubts regarding the Upside Down.

Redefining the Upside Down

An "echo" or "dark reflection" of Hawkins was used to characterise the Upside Down for four seasons. It turns out this was simplified in Volume 2. As Dustin Henderson (Gaten Matarazzo) deciphers Dr Brenner's (Matthew Modine) long-lost laboratory notes, he reveals the scientific truth: the Upside Down is a wormhole, not a dimension.

This wormhole physically connects our world to the ancient underworld, also called The Abyss or Dimension X. Eleven first sent Henry Creel (Vecna) [Jamie Campbell Bower] to the Abyss, which is also the actual dwelling place of the Mind Flayer and the Demogorgons. Eleven (Millie Bobby Brown) opened the first gate by accident, creating the "Upside Down" version of Hawkins. This version is like a frozen image of the planet trapped within the wormhole.

ALSO READ: Stranger Things Season 5 Volume 2 review: Exhausting, long-winded detour that feels like empty filler on the road to the finale

Exotic Matter

In the inverted version of Hawkins Lab, Jonathan (Charlie Heaton) and Nancy (Natalia Dyer) find a substance called Exotic Matter, which is a red sphere-shaped energy. It is this substance that acts as "glue" to keep the wormhole open. The connection between worlds will fall if this stuff is destabilised or destroyed. Nonetheless, upon the wormhole's collapse, every individual caught within will have their existence wiped.

A complete reimagining of reality has replaced simple vengeance as Henry Creel's goal. Vecna takes Holly Wheeler (Nell Fisher), Mike's (Finn Wolfhard) younger sister, as one of the twelve children.

Ritual to remake the world

These kids are like "perfect vessels" in Vecna's eyes. He thinks he can connect the real world and the Abyss by harnessing the strength of the children's psychic energy, which they have a natural "light" for. His plan would completely unite the two dimensions, "remaking the world" in his likeness, rather than merely opening a gate. At the end, Vecna links the twelve kids in a psychic circle in a ritual that he performs as the four gates in Hawkins start to open uncontrollably.

The season's most powerful emotional moment occurs when Will Byers (Noah Schnapp) comes out to his loved ones. This confession is not just a personal milestone; it is a tactical necessity. To keep tabs on the group, Vecna was using Will's suppressed anxieties and hidden truths.

Infiltrating the mind of Vecna

Vecna loses his psychological advantage as Will speaks his mind and gets the unwavering backing of Mike, Joyce (Winona Ryder), and the Party. As a result of this "honesty" that enhances his abilities, Will can selectively infiltrate Vecna's mind to protect Max (Sadie Sink) and Holly from harm while they try to escape capture.

Jonathan Byers' and Nancy Wheeler's romantic tension comes to a head. Jonathan gives what he refers to as an "unproposal" while facing a potentially fatal situation with the oncoming "sludge" from the wormhole. He concedes that their lives have taken separate paths and that it would be foolish for them to continue living together in the conventional sense. After Jonathan relocated to California, Nancy acknowledged that they had grown apart. They decide to put their families' needs first rather than pursuing a future together; thus, they end their relationship amicably.

Trapped in Camazotz

Volume 2 delves into Max's consciousness as she remains physically in a coma. A mental environment known as Camazotz stores Henry Creel's horrific memories, ensnaring him.

Max discovers Holly Wheeler within this dimension. Coming together, they make their way through a "cave memory" that shows them young Henry murdering a scientist for a luminous energy source. Holly is able to re-enter the actual world with Max's assistance thanks to Will's telepathic intervention. By the conclusion of Volume 2, Max has managed to reawaken in her physical body, reconnecting with Lucas; however, she is still physically vulnerable, even though her consciousness is still connected to the Abyss.

Operation Beanstalk

Operation Beanstalk is the last offensive plan that the Hawkins gang comes up with. The idea behind this scheme came from the observation that, according to the wormhole's design, the Abyss is located "above" the Upside Down.

After much deliberation, Steve Harrington (Joe Keery) has proposed postponing the ascent until the planets are in close enough proximity for the local radio tower to peer through a fissure. As a ladder ("beanstalk"), the team intends to use this tower to descend into the Abyss and save the kids.

The Mind Heist

As the physical team ascends the tower, Eleven and Kali (008) [Linnea Berthelsen] plot to utilise the Upside Down lab's sensory deprivation tank in The Mind Heist. To divert Vecna's attention from the rescue operation, Eleven would "hijack" his thoughts.

Near the Exotic Matter, Dustin plans to detonate a bomb. When everyone is safe, they'll blow up the bridge and cut off Hawkins's supply of water from the Abyss.

Human toll

No major characters died in Volume 2, despite what many fans had believed. Having said that, there was some loss in the volume:

In a flashback, we learn that Axel and the rest of Kali's "Lost Sister" crew were killed by Dr Kay's (Linda Hamilton) military forces after they were apprehended.

The penetration of the base was met by the demise of a large number of "goons" serving under Dr Kay and Lieutenant Akers as a result of psychic backlash or Demodogs.

Suicide mission

Known as the "Suicide Mission," Kali cautions Eleven that the military's Project Indigo will continue to hunt them indefinitely to produce new supersoldiers so long as they remain alive. The girls come to the realisation that the military's experiments could be run on their own, which sets the stage for a possible sacrifice at the conclusion.

The cliffhanger at the end of Volume 2 is enormous. The sky above Hawkins has taken on the blood-red hue of the Abyss, as the gates have grown into "megarifts". There is a rift inside the party – in the Upside Down Hawkins Lab, Eleven, Will, and Kali are getting ready for the psychic assault. Steve, Dustin, Nancy, and Jonathan have gathered at the radio tower, ready to begin their ascent. To repel the physical monsters that are emerging from the rifts, Hopper, Joyce, and Murray are working in tandem with the remaining vestiges of the military.

Stranger Things finale

The release date for the last episode, "The Rightside Up", is set for January 1, 2026. It will culminate the fight against Vecna and determine Hawkins's eventual fate; it is confirmed to be a feature-length conclusion running 2 hours and 8 minutes.

Stranger Things 5 Volume 2 FAQs:

Q: Is there a Stranger Things Season 5 Volume 3?

A: Yes. Netflix has split the final season into three parts. Volume 2 (Episodes 5–7) concluded the penultimate arc, leaving one final installment. Volume 3 consists of the series finale, "Chapter 8: The Rightside Up," which is a feature-length episode (2 hours and 8 minutes) releasing on January 1, 2026.

Q: What is the Abyss in Stranger Things Season 5?

A: The Abyss (originally called Dimension X) is revealed in Volume 2 to be a primordial, alien dimension that serves as the true home of the Mind Flayer and the Demogorgons. It is located "beyond" the Upside Down.

Q: Why did Nancy and Jonathan break up in Season 5?

A: Nancy and Jonathan end their relationship in Volume 2 during a life-threatening moment in the Upside Down lab. Jonathan offers an "unproposal," admitting that they have grown into different people with diverging paths—Nancy toward her ambitions and Jonathan toward a different life in California.