On-Chain Data

In April 2026, the price of Ethereum fell under the influence of geopolitical pressure, but on-chain data performed well and network activity was high. User preference for self-custody increased, and the DEX market share rose. Analysts say the market has not seen panic selling; whether the price will reverse in the future still depends on the external environment.

Bitcoin’s price has been trading in a tight range around $68,000 ahead of an upcoming speech by Trump, and expectations that the conflict could ease have not translated into a more optimistic positioning of capital. Trading volume indicators show sellers are in control, and the market is in the “distribution phase.” Despite some buy-side attempts to enter, confidence is lacking, and near-term direction will be driven by geopolitical factors and capital flows.

Key Insights: XRP trades about 60% below its peak despite steady ETF inflows, reflecting a gap between improving fundamentals and current market valuation levels. Institutional exposure through XRP ETFs reached 1.1 billion dollars, yet analysts say inflow scale remains too small to

SBI Holdings is partnering with Madison Garden in the United States to build a large immersive spherical arena at Tokyo Odaiba, with a budget of about 350 billion yen. The venue will be designed as a fully enclosed sphere, emphasizing an immersive experience, and is expected to accommodate 20,000 people. SBI also plans to combine entertainment assets with digital finance to develop new investment products, while also participating in the establishment of an entertainment industry fund.

Gate News message: On April 2, according to data tracked by Santiment, on-chain network activity for Ethereum has recently risen significantly. The data shows that the number of Ethereum daily active addresses has reached 788,000, the number of new daily wallet addresses has reached 255,000, and overall activity is already approaching the all-time high record.

San Francisco, CA, February 26th, 2026, Chainwire SolanaCDN delivers 3.8x faster shred propagation through a global mesh of 35,000+ nodes, provided as a public good for the Solana network Pipe Network today announced the launch of SolanaCDN, a free, open-source Solana validator client with an

The number of independent senders of non-USD stablecoins on the Solana chain has grown nearly threefold year over year, driven mainly by the euro stablecoin EURC and the Brazilian real stablecoin BRZ. Solana’s technical advantages have attracted the integration of multiple payment providers, reflecting a rising market demand for cross-border payments on high-throughput blockchains.

On April 2, PeckShield clarified that HyperEVM was not down; the anomaly was limited to the official block explorer frontend not syncing data. The incident was caused by a data source deviation that led to a misclassification. In reality, the underlying chain was operating normally. On the same day, MetaMask announced full support for HyperEVM, lowering the usage barrier. This incident underscores the importance of verifying across multiple data sources to prevent false alarms.

StakeStone（STO）saw a sharp surge on April 2, with the highest gain reaching 166.9%. The price jumped to $0.49159 and was accompanied by large withdrawals. This rally was driven by the launch of a new payment feature, with the 24-hour trading volume up 590.8%. However, the technical picture shows an overbought condition, and combined with selling pressure from upcoming unlocks, short-term pullback risk should be watched closely.

2026-04-02 03:30 to 2026-04-02 03:45 (UTC), ETH experienced a short-term decline in yield of -0.94%. The price ranged from 2046.01 to 2075.41 USDT, with a fluctuation of 1.42%. During this period, market volatility intensified, on-chain attention increased, reflecting investors’ high sensitivity to upcoming network changes and large capital flows. The main drivers of this abnormal movement stemmed from large transfers concentrated among on-chain whales and institutional addresses, with some individual transactions exceeding 10,000 ETH, and simultaneously flowing in large volumes.

Decentralized exchange Drift Protocol was hacked on April 2, resulting in losses of up to $280 million, becoming one of the largest DeFi security incidents in the Solana ecosystem. The attacker exploited a multisig vulnerability to obtain administrator keys and quickly transferred assets. Drift has paused deposits and withdrawals and has promised to continue updating the incident investigation. Security experts noted that this incident highlights the risks of high-privilege key management for DeFi protocols, urging stronger security measures to protect users’ assets.

Monad blockchain reached a total value locked (TVL) of $355 million within about four months, setting a record for rapid growth, but its daily transaction fees are less than $3,000, indicating a disconnect between locked capital and real trading activity. At the same time, the fully diluted valuation of the MON token fell from $4.7 billion to about $2.2 billion, reflecting the market’s lack of confidence in its continued ability to attract users.

SlowMist analyzed the Drift Protocol hack, pointing out that the core vulnerability was that the multisig mechanism change did not include a time lock. After the attacker gained administrator privileges, they systematically extracted assets by forging tokens, manipulating oracles, and disabling security modules, ultimately stealing about 105,969 ETH. ZachXBT criticized Circle for not freezing USDC in time during this process, which had a negative impact on the industry and sparked widespread discussion.

A CryptoQuant report indicates that as of the end of March, Bitcoin’s “apparent demand” is -63,000 BTC, showing that the market has an oversupply situation, and institutional buying cannot offset retail selling. Starting in mid-2025, the giant whales began large-scale selling, pushing the market into a distribution phase. Although ETF institutional buying has increased, it has not been able to change the weak demand situation, and weakening domestic U.S. demand may further affect the market. Easing geopolitical tensions could become a catalyst for a short-term rebound.

ZachXBT criticized Circle for not taking action in the Drift hacking incident, with millions of USDC moved from Solana to Ethereum. Circle has frozen part of its hot wallets, but progress has been slow to resume. He says Circle is a bad actor in the industry.

On April 2, on-chain monitoring firm PeckShield warned that HyperEVM could face a major outage, with blocks and transactions coming to a halt, impacting users’ transaction confirmations and smart contract interactions. The official status page, however, shows “All Systems Operational,” reflecting insufficient monitoring of HyperEVM layer conditions. This outage exposed issues with the new mainnet’s early stability; the specific causes are pending an official announcement.

From 2026-04-02 01:15 to 2026-04-02 01:30 (UTC), the ETH spot price return logged -1.33%, reported at 2106.08 to 2140.86 USDT, with a range of 1.62%. During the event window, market volatility intensified, near-term attention clearly increased, and concentrated sell pressure triggered a rapid price pullback. The main driving force behind this unusual move is that capital outflows have once again intensified. On-chain data shows that over the past one cycle, ETH exchange net outflows have remained negative, reaching as high as -6,625.86 coins, while the ETF recorded a net outflow of -2,000 units.

Bitcoin (BTC) dipped in the short term to $67,600. The U.S. Department of the Treasury launched a small consultation on regulatory guidance for stablecoins under the “GENIUS Act,” and the CFTC Chair said he is ready to regulate the entire crypto market. Amid market developments, spot Bitcoin inflows are slightly higher than outflows, and the CFTC and the SEC have signed an agreement to coordinate digital asset regulation.

Gate News message, four wallets collectively withdrew 32,880 ETH valued at $70.03 million from centralized exchanges. All these wallets were created 113 days ago simultaneously. The addresses are: 0x5b4A6744483948f393e6D6C6C181Ce0a4e87F5bB, 0xd86536E111221306D34ac45Ad2Bda4b69d1dDc44, and 0x07A5D26ac

U.S. President Trump plans to announce that Iran’s military targets have been achieved, the war is nearing its end, and the U.S. and Iran are in talks to negotiate a ceasefire. This situation is boosting market sentiment and pushing Bitcoin higher. K33 Research shows that Bitcoin ETF shorts have reached a historical high, and the market structure indicates signs that a bottom may be forming, suggesting a possible near-term uptrend.