April Crypto Market Recovery Analysis: 70% of Tokens Rise, Emerging Tracks Show Vitality

In April, the cryptocurrency market showed signs of warming up. Although mainstream assets are still looking for direction, the altcoin sector has shown a certain degree of recovery, and market sentiment has improved. This article analyzes data from 397 USDT spot trading pairs on a large trading platform to reveal the true state of the market from April 1 to 28, 2025.

Overall Market Performance: Mainly Moderate Rise

Data shows that in April, the market exhibited a general rise pattern, but the increase was relatively moderate:

• The average rise is 13.11%, and the median is 7.73%
• 74.1% of tokens experienced a pump, 25.7% dropped.
• Tokens with a rise of over 100% account for only 3.0%, while those with a rise of 50%-100% account for 3.3%.
• Most tokens (67.8%) have a rise of between 0%-50%

This indicates that although the market is warming up, it is still far from a full-blown "altcoin season" frenzy. The rise leaderboard shows that small-cap Tokens dominate, with DeFi, AI, and Meme Tokens performing impressively, while specific ecosystems like Solana and BNB Chain have also contributed a number of high-rise Tokens.

Comparison of New and Old Token Performance

The market still shows a trend of "buying new and not buying old":

• The new coins launched in 2025 have the highest average rise, reaching 33.66%.
• The performance of tokens launched in 2023 and 2022 is next.
• The Token launched in 2024 performed mediocrely, with a rise of only 11.25%.
• The average rise of Tokens in the 2017 era was the lowest, while the performance of Tokens in the 2021 era was second to last.

This phenomenon may reflect that tokens launched during a bear market tend to have more momentum, while bull market tokens lack long-term viability.

Track Performance Analysis

Average rise ranking of each track:

1. Infrastructure (27.38%)
2. AI (21%)
3. Meme
4. DEX
5. DeFi

The overall rise in the category of public chain platforms is relatively lagging, with the RWA track performing flat. The metaverse and oracle tracks performed the worst, but the sample size is relatively small.

Ecosystem Comparison

Average rise in different blockchain ecosystems:

1. Sui ecosystem (small sample size)
2. Base ecosystem
3. Solana Ecosystem
4. Arbitrum ecosystem

The overall performance of the Ethereum and BNB Chain ecosystems is close to or slightly below the market average. The Polygon, Cosmos, and Polkadot ecosystems performed relatively poorly this month.

Market Capitalization and Performance

Interestingly, the average rise of mid-cap (100 million - 1 billion USD) and large-cap (greater than 1 billion USD) tokens is slightly higher than that of small-cap (less than 100 million USD) tokens. This may suggest that funds tend to flow towards assets that already have a certain foundation and consensus.

From the perspective of quantity distribution:

• Small market cap tokens (<1 billion USD): 242, accounting for about 60%
• Mid-cap tokens (100 million - 1 billion USD): 116
• Large market cap tokens (>$1 billion): 28

Overall, the market rebound in April did not reach the level of a substantial widespread rise. New tokens are more favored, while mid to large-cap tokens have seen a greater overall increase, but small-cap tokens are more likely to experience high multiples of rise. For investors, the current market may be more suitable for selecting specific coins and sectors, rather than expecting a comprehensive "altcoin season" pump.