LIVEA huge number of new tokens were launched on the Solana blockchain in May, totaling nearly half a million. This increase is mainly due to easier access and a growing interest in creating popular meme coins.#Altacoins
In May, 455,000 tokens were created on $SOL #SolanaUSTD , surpassing the numbers on other platforms like Ethereum's layer 2 protocol Base, which had 177,000 tokens, and BNB Chain, with 39,000 tokens. Even Ethereum's mainnet and Layer 2 networks Arbitrum and Optimism produced fewer than 20,000 tokens each.
According to Austin Federa, director of strategy at the Solana Foundation, Solana's unique features are behind this surge. He explained, "Solana is designed to handle lots of transactions quickly and with very low fees."
Most of the tokens on Solana are meme coins, which have gained popularity in the crypto community recently. This trend follows the success of meme coins like Dogwifhat, Bonk, and Book of Meme on the Solana blockchain.
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