The Solana network has created over 87% of all new tokens launched across tracked blockchain networks. By the end of September, a total of 110,180 tokens had been developed, of which 96,010 were on Solana.
Competition between Base and Solana
Since April 2024, Bawse and Solana have been in competition for new token launches. Both networks dominate the token creation space, holding over 80% of the market share.
However, it is important to note that not all new tokens are memecoins. Social media interest and market hype significantly influence the appreciation of the value of certain tokens.