$ETH $SOL $b1M TOKENS CREATED SINCE APRIL, DRIVEN BY MEMECOIN FRENZY: FACTS…
- The cryptocurrency market has experienced a historic surge in token creation, with over one million new tokens launched since April 1st.
- Since April 1, 372,642 new tokens have been launched on the Ethereum network. A significant 88% of these tokens were launched on Coinbase’s layer-2 blockchain, Base.
- This layer-2 network has seen an explosion in activity, attracting many users who are creating new #memecoins due to the low transaction costs.
- Coinbase director Conor Grogan highlighted this surge, noting that it is double the number of tokens created on Ethereum between 2015 and 2023.
- The total value locked (TVL) on Base has surged around 630% since the beginning of 2024, according to L2beat.
- Solana has seen an even more significant influx, with 643,000 new tokens launched, including 466,914 memecoins.
Image: Conor Grogan
