On-Chain Data

Several crypto assets declined on Friday after Donald Trump’s speech triggered panic across global markets. Defying expectations for restraint, Trump outlined plans for potential military action against Iran over

Ethereum currently accounts for about 65% of non-USD stablecoin supply, down 25 percentage points from the beginning of 2023. Even though other blockchains are catching up, Ethereum remains the primary choice for stablecoin issuance, and the number of active senders is expected to rise from 2000 to 12000.

The Drift Protocol exploit on April 1, 2026, drained $285 million through admin control, triggering a sharp decline in Solana DeFi. Attackers manipulated oracle pricing and governance, leading to rapid asset withdrawals and cross-chain fund transfers, complicating recovery efforts.

From 2026-04-02 14:30 to 14:45 (UTC), the ETH price surged rapidly, with a return of +1.52%. The price range was 2038.01 to 2071.65 USDT, and the amplitude reached 1.65%. During this period, market attention noticeably increased, capital flows accelerated, and short-term volatility intensified. The main drivers behind this unusual market move are a significant rise in on-chain activity and the innovative effects across the DeFi and NFT ecosystems. Data shows that the number of active Ethereum addresses jumped from 380,000 to 840,000, an increase of as much as 121%. In the same period, the average daily trading volume rose from 1 million to 2.5 million USDT.

Gate News message, two newly created wallets linked to a single entity withdrew 6,328 ETH worth $12.98M from CEX.

From 2026-04-02 13:45 to 2026-04-02 14:00 (UTC), within 15 minutes BTC’s return rate reached +0.62%. The price range was 65841.3 to 66288.3 USDT, with a volatility of 0.68%. During this period, market activity rose significantly. On-chain data shows the number of active addresses reached 30,953, and on-chain BTC trading volume surged to 420,690 BTC, drawing widespread attention and increasing market volatility. The main drivers behind this unusual move are concentrated ETF fund inflows and exchange reserves

From 2026-04-02 13:45 to 2026-04-02 14:00 (UTC), the ETH price showed a clear move. The 15-minute candlestick return was +0.92%. It traded in a range of 2018.99 - 2040.78 USDT with an amplitude of 1.08%. During this period, on-chain activity increased significantly: the number of transactions grew by 18% compared with the previous hour. Capital flows accelerated noticeably, and rising market attention contributed to heightened volatility. The main driving force behind this move came from the flow of large on-chain funds and whale activity. In the short term, whale addresses transferred to a certain large wallet or exchange, indicating active accumulation or distribution, which further amplified market fluctuations.

Bitcoin's bear market has lasted for nearly six months. The market may be entering a "time pain" phase, with long-term holders making up about 80% of the supply. Glassnode believes the bear market is nearing the bottom, but it still needs several months of sideways consolidation.

Gate News reports that on April 2, according to Arkham monitoring, approximately 17 minutes ago, the Graycale Bitcoin Trust transferred 194.617 BTC, valued at about $12.87 million, to a certain CEX Prime address.

Tokenized stock transfers reached a record $2.87 billion in March, driven largely by Ondo's $2 billion contribution. The number of tokenized stock holders surpassed 200,000, indicating a growing and maturing market.

Chainalysis research reports that organizations linked to Russia and Iran have been buying low-cost drones and accessories through cryptocurrencies to bypass Western sanctions. Since 2022, pro-Russia groups have raised more than $8.3 million, and wallets associated with Iran show transactions with suppliers in Hong Kong. Although the anonymity of cryptocurrencies helps evade monitoring, blockchain transparency provides important leads for investigations.

Gate News message. On April 2, according to Onchain Lens monitoring, a BlackRock address transferred 1,360 BTC to a certain CEX, worth approximately $90.28 million, and also transferred 15,103 ETH, worth approximately $30.82 million. The total value of the two transfers was approximately $121 million.

The crypto market faces a downturn with a 2.53% drop in market capitalization, led by decreases in Bitcoin and Ethereum prices. However, daily crypto volume rose by 4.26%, while NFT sales surged. Key developments include Genius Group repaying debt and Australia's new crypto policy approval.

Bitcoin’s hot-holdings trend is cooling off, as multiple companies and governments sell off their reserves, causing market volatility to increase. Companies such as Empery Digital and Genius Group have already cleared their bitcoin reserves, while Riot Platforms continues to reduce its holdings. Despite worries raised by the selloffs, the public vault still holds a large amount of bitcoin. The current bitcoin price is about $66,500, and market sentiment remains weak.

The Cardano Foundation has partnered with Flowdesk to launch a multi-million-dollar liquidity enhancement initiative aimed at strengthening the trading depth and stability of decentralized exchanges and advancing DeFi capabilities. By injecting ADA tokens and optimizing liquidity management, the program will improve market conditions, attract institutional investors, and support the ongoing growth of the Cardano ecosystem.

K33’s research report indicates that the Bitcoin market is in a high-alert state due to weak coin prices, geopolitical risks, and threats from quantum computing, leading to a sharp increase in short positions. Vetle Lunde notes that persistently negative funding rates continue to reflect the market being overly crowded, which could signal that a turnaround may be on the way. At the same time, trading volume and volatility typically decline during holidays, affecting market liquidity.

The Ethereum Foundation-backed ZKNox founder, Nicolas Bacca, introduced at the EthCC conference the integration progress between hardware wallets and Ethereum, significantly lowering the on-chain verification cost of post-quantum secure signatures and improving efficiency. The standardized SDK they developed supports a range of account abstraction features and is dedicated to implementing open-source security standards in hardware wallets.

On April 1, 2026, Drift Protocol in the Solana ecosystem was hacked, resulting in losses of about $285 million. The attacker obtained administrator permissions for a multisig wallet, swiftly withdrew funds, and transferred them cross-chain to Ethereum, becoming the largest single security incident in the DeFi space. The investigation found that the attack was caused by a multisig management configuration flaw: the lack of a time-lock mechanism allowed the attacker to execute malicious actions immediately. The incident caused Drift’s total value locked to drop sharply, significantly impacting the Solana ecosystem.

April 1, 2026, U.S. spot Bitcoin ETFs saw net outflows of $173.73 million, with cumulative net redemptions of about $500 million in the first quarter, the worst start since 2018. Grayscale products showed diverging performance: the low-fee Bitcoin mini trust attracted inflows, indicating institutional investors are adjusting their strategy. Ethereum ETFs also face pressure, and the market needs to watch future institutional demand and regulatory changes.