Web3 on-chain Data Interpretation: Active Solana Transactions in April, Ethereum Capital Flowing Back

On-chain Data Summary

on-chain overall situation

In April, the average daily transaction volume on Solana exceeded 93 million transactions, reaching a total of 2.8 billion transactions by the end of the month, continuing to lead the entire chain. Base and Sui stabilized in the ranges of 7 million and 6.1 million transactions, respectively, demonstrating strong activity. The daily transaction volumes for Polygon PoS and Ethereum were over 2.9 million and 1 million transactions, respectively, showing relatively stable trends. The transaction volumes for TON and Bitcoin were lower, generally maintaining between 200,000 and 400,000 transactions.

Solana's gas revenue continues to lead, with an average daily fee exceeding $1.2 million. Bitcoin and Ethereum follow closely behind, with daily average revenues ranging from $500,000 to $700,000. Base surged to nearly $350,000 in the middle of the month, showing impressive performance. Sui, Polygon PoS, and TON's daily fees remain below $50,000.

The number of daily active addresses on Solana remains above 4 million, with a monthly average of about 4.5 million, showing that trading activity is built on a broad user base. On April 11, the number of active addresses once exceeded 6.2 million, highlighting a concentrated burst of ecological heat.

public chain bridge net flow

As of April 28, Ethereum recorded a net inflow of over $904 million, the highest amount across the entire network. Sonic performed impressively, attracting a net inflow of over $124 million in a single month. Base and Arbitrum recorded net inflows of approximately $64.8 million and $62.1 million, respectively. Berachain experienced a net outflow of up to $704 million, the highest among all chains.

Bitcoin Key Indicator Analysis

Wallet addresses holding more than 10,000 BTC have a cumulative score close to 1, indicating a comprehensive net buying status. Addresses holding between 1,000 and 10,000 BTC have a cumulative score between 0.7 and 0.8, indicating active accumulation. Medium holders holding between 10 and 1,000 BTC have seen their cumulative scores rebound to around 0.5, indicating a shift towards buying.

The net growth of UTXO has continued to turn positive, indicating that network activity is gradually recovering. The number of new addresses remains in the range of 300,000 to 350,000 per day, reflecting that this round of on-chain recovery is largely driven by the return of existing users and an increase in transaction frequency.

The profit address ratio has quickly rebounded to 93%, indicating that the majority of investors have returned to a profitable state, and market sentiment is shifting from pessimistic to neutral or even slightly bullish.

Popular Projects and Token Dynamics

LaunchLab

As of April 28, the LaunchLab platform has created a total of 25,207 tokens, of which 211 (0.84%) successfully raised funds and migrated to the AMM liquidity pool. The peak of token creation was concentrated on April 27, with over 7,500 created in a single day; the peak of graduating tokens was concentrated on April 25 and 26, with a total of over 110 graduating in the two days.

On April 28, Pump.fun created 29,612 tokens, with 1,327 successfully graduated, a graduation rate of 4.5%. LaunchLab created 4,272 tokens, with 104 successfully graduated, a graduation rate of 2.4%.

$TRUMP

The price of $TRUMP surged over 50%, primarily driven by the news of Trump announcing a dinner with token holders. Since the announcement on April 24, the number of addresses holding over $1,000 in $TRUMP has increased from about 18,000 to 21,900, a growth of more than 21%; the total number of holding addresses has also climbed from 640,000 to 643,000.

According to Chainalysis data, since the launch of $TRUMP, its issuing team has accumulated over $320 million in revenue through transaction fees.

Summary

In April, the on-chain ecosystem showed clear differentiation, with Solana continuing to lead and emerging chains demonstrating potential. The on-chain structure of Bitcoin has improved, but the growth of new users remains insufficient. In terms of popular projects, LaunchLab quickly gathered creator resources, and $TRUMP achieved a short-term price surge through offline events. Overall, on-chain activity and capital flow are recovering in sync, warranting continued attention to the follow-up trends of mainstream assets and hot protocols.