Solscan Tutorial: From Zero to Hero

Ever felt like understanding blockchain analytics tools is like decrypting an alien language? Today we’re going to demystify one of the most powerful tools in the Solana ecosystem: Solscan and teach you everything you need to know in order to leverage it like a true pro to be one step ahead of the other copytraders.

What is Solscan?

Solscan stands as the go-to block explorer for the Solana blockchain. Unlike other analytics platforms that feel like you need a computer science degree to navigate, Solscan breaks down complex blockchain data into insights anyone can understand.

Pop over to Solscan.io and you’ll immediately notice the dashboard showing you real-time SOL supply, epoch information, and transaction counts (which you shouldn’t care much about, as it doesn’t affect you at all).

The most common feature we are going to use is the search bar at the top. With it, we’ll be able to find wallets, tokens, transactions and basically anything inside the solana blockchain.

How to Read a Transaction

Reading a transaction is as important as breathing if you are a solana copy-trader. Luckily for you, it is very easy to do:

When you click on any transaction (or paste the hash of one), you’ll see several key elements:

Signature: That seemingly random string of characters serves as the transaction’s unique fingerprint. Every single transaction has it’s own signature.
Block: This number reveals where in Solana’s history this transaction sits. The higher the number, the more recent the transaction.
Timestamp: When was the transaction executed.
Result: That “SUCCESS” tag with “Finalized” status means the transaction is permanently recorded and can’t be altered or reversed. In other cases, the transaction might fail (most of the times due the Slippage being exceeded), as can be seen in the image below:

Transaction failed due to exceeded slippage

Signer: This address initiated everything and covered the transaction fees.
Transaction Actions: Here’s the juicy part, as it shows what happened in the transaction. In this case, it’s a simple Solana transfer from one wallet to another. In other cases (most of them), you will also find Token Swaps, Buys, Sells and many other things!
Fee: This tiny amount keeps the Solana network running smoothly. You basically pay a fee for every single transaction you perform.
Priority Fee: Traders who want their transactions processed ASAP pay extra here. During volatile markets, these fees spike dramatically.

The "SOL Balance Change" Tab

This is probably one of the most important tabs when it comes to understanding what the hell happened inside the transaction, as it it gives you a clear breakdown of exactly how the Solanas “changed” inside it:

The very first transaction is how much SOL this trade has cost you in total. In this case, is around 0,109 SOL (Since the balance is negative, it means you bought a token)

Later on, you have the destination wallet (TEMP…Fanq), which surely belongs to the DEX where you bought the token.

Lastly, you have the “fee” paying wallets, which are:

MvVP..tK5: OdinBot 1% fee collector wallet.
HGg..aEV: Is the wallet who collects the Speed tip in order for your transaction to go through faster.

Analyzing a Wallet's Activity

At this point we are pretty sure you already know what a Solana Wallet means, so we’ll simply skip the explanation.

If you want to really understand what the heck a wallet is doing, all you have to do is check it on solscan. It will tell you all the truth: Every transaction, every movement and any token it traded will be shown in real time!

All you have to do is paste the wallet address you want to analyze in the search bar and you’ll be presented with some straightforward information:

SOL Balance: How much Solana does the wallet hold right now (Even tought it could also have wSOL which is pretty much the same, but this won’t be show in this tab but in “Holdings”)
Token Holdings: What tokens is bro holding.
DeFi Activities: This is undoubtedly the most useful tab whenever you are analyzing a wallet with Solscan as is shows you every single transaction he made (Including meme coins, solanas, stable coins, etc):

Here, you can see:

Signature: A unique identifier for each transaction
Time: The exact moment when the transaction occurred
Action: The transaction type, typically “TOKEN SWAP” for buying or selling tokens
From: The wallet address that initiated the transaction (always matches the wallet you’re currently analyzing)
Amount: The quantity of tokens exchanged
Value: The transaction’s worth in USD at that time
Platform: The trading interface used
Source: The specific decentralized exchange (DEX) where the trade took place

You can filter these columns based on specific patterns, like finding all transactions above a certain dollar amount or isolating activity on a particular DEX.

Finally, the “Portfolio” tab offers a complementary view, showing current positions rather than historical trades.

Token Investigation with Solscan

Guess what? You can analyze any Solana token directly with Solscan (At the end of the day, every single trading platform takes their token analysis info directly from the same Blockchain Solscan does.. so not a big surpirse). All you have to do is drop the token’s contract address into the search bar:

Basic Stats: Current price, Market cap, Total Supply, and Holder count.
Transfers: Stores every buy, sell, and movement of the token. You’ll see exactly which wallets are trading this exact token and how much they’re moving around.
DeFi Activities: Presents the same information as Transfers but with a cleaner, more user-friendly interface. If you’re doing in-depth analysis, this is your go-to view.
Holders: Shows every wallet holding the token and what percentage they control

Now here’s the deal: the “Holders” tab deserves special attention. It’s your first line of defense against potential scams. When you spot multiple wallets holding suspiciously identical percentages (like several addresses each with exactly 3.79% of supply), your alarm bells should ring.

This pattern typically indicates “bundling” (Where one or few people controls multiple wallets to hide their true holdings). Spotting this early could save you (and your wallet) from a more than likely rug pull.

Closing Thoughts

Most traders are sleeping on Solscan, and it’s costing them money. While the crowd chases hype and refreshes price charts, smart traders dig through Solscan daily to spot what’s really happening on-chain. It’s not just another blockchain explorer: It’s your X-ray vision into Solana’s financial pulse. You’ll catch sketchy token distributions before they rug, find connected wallets others miss, and develop an instinct for genuine projects versus empty hype. Don’t make the same mistake as everyone else. Learn this tool, and you’ll literally see what 99% of copy-traders can’t. Your edge might be hiding in plain sight. You just need to know where to look.