In April, more than 138 new memcoins appeared on CoinMarketCap, launched in accordance with the ERC-20 standard. Blockchain researcher Crypto Koryo drew attention to this.
Since April 2023, the number of meme coins has increased more than sevenfold. According to a number of experts, the record growth of comic assets was made possible due to the fact that technical knowledge is no longer required to launch them.
New blockchain tools allow you to launch coins in just a few clicks. The introduction of new standards (SRC-20, DRC-20 and ASC-20) and optimization of network transactions have also redirected liquidity from giants like Ethereum to their competitors such as Solana.
Crypto Koryo, citing data from CoinMarketCap, noted that Solana has dominated the memcoin market since last year. Three years ago, users had access mainly to projects on the ETH network - Dogecoin, Floki Inu and Shiba Inu. Now the market is oversaturated, which can lead to problems.#CryptoWatchMay2024
