According to BlockBeats, on June 4, nearly half a million tokens were launched on the Solana blockchain in May due to low barriers to entry and a surge in demand for creating popular Meme coins. According to data from The Block Pro, 455,000 tokens were created on Solana in May, compared to 177,000 tokens created on Ethereum Layer 2 Base and 39,000 tokens created on the BNB chain. Less than 20,000 tokens were created on the Ethereum mainnet and Layer 2 networks Arbitrum and Optimism.