In May, 455,000 new coins appeared on the Solana blockchain. The indicator reached a monthly high due to low barriers to entry and the hype around meme tokens. This is evidenced by data from The Block.
For comparison, during the same period, 177,000 coins were issued on the Base L2 network, and 39,000 on the BNB Chain. Approximately 20,000 tokens were created on the Ethereum mainnet, as well as second-level solutions Arbitrum and Optimism.
“Solana is designed to be a general-purpose first tier, with fast completion, high throughput, and extremely low transaction fees,” said Austin Federa, head of strategy at the Solana Foundation.
In his opinion, mass adoption of the network is due to these characteristics, so “the cost of experimentation and implementation of new ideas is reduced to almost zero.” He believes that tokens on Solana “should be created as easily as content on the Internet.”
The largest assets are dogwifhat (WIF) and Bonk (BONK) with $3.2 billion and $2.1 billion, respectively.
The Block Pro's research director, Stephen Cheng, partly attributed the current trend to the popularity of the meme-token launch platform pump_fun.
“The meme coin mania plus the success of pump_fun has made Solana the leading blockchain for launching new assets. It remains to be seen whether the network will be able to attract attention to the token launch beyond memes.”
See original
Meme-hype: half a million new tokens appeared on the Solana network.
Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
SOL
144.12
-0.33%
BONK
0.0000188
-5.05%
WIF
1.591
+13.72%
Replies 0
