A total of 1 million new tokens have been launched since April, nearly half of which are meme coins on the Solana chain
BlockBeats news, on May 15, Cointelegraph reported that more than 1 million new tokens have been created since the beginning of April, more than 370,000 new tokens have appeared on Ethereum, and more than 640,000 new tokens have been launched on Solana.
88% of the tokens launched on the Ethereum network were launched on Coinbase's layer 2 blockchain. The Layer-2 network has witnessed an explosion of activity, brought about by degens flocking to low-cost networks to launch new meme coins. According to L2beat data, the total locked value (TVL) on Base has soared by about 630% since the beginning of 2024, mainly due to the craze for meme coins.
At the same time, according to data from the analysis platform Step Finance, 643,227 new tokens were created on Solana during the same time period. Of the 643,000 new tokens launched on Solana, 466,914 were memecoins, according to the Dune Analytics dashboard, which tracks the number of new tokens launched by Solana-based memecoin platform pump.fun.
CoinMarketCap lists the 500 newest tokens added to its platform in the past 30 days, and most of them are memecoins.
