While bitcoin is making headlines thanks to new price advances, Solana continues to dominate the activity of new tokens: 89% of new tokens decide to launch on the network.
The surge in activity occurred against the background of the network processing about 41 million non-voting #transactions , which indicates stable user engagement.
Last week, 181,000 new tokens appeared on DEX, with memecoin launches on platforms such as pump. fun becoming the main driver of activity. Launch platforms such as pump. fun, we have created an effective infrastructure for the deployment of tokens.
Despite the large volume of launches, only about 1% of these tokens are successfully listed on Raydium. Solana's ability to process large volumes of transactions without significantly increasing fees maintains constant activity.
Well-known memcoins became the leaders last week, second only to large tier 1 tokens such as $ETH
and $SOL
. The trend suggests that market participants retain an appetite for high-risk, high-yield opportunities, despite a resurgence of enthusiasm for regulated products such as #BitcoinETFs .
As the broader cryptocurrency market reacts to the US election results and new historical highs for bitcoin, we are watching to see if this will distract attention from memcoins. The contrast between the institutional capital flowing into Bitcoin ETFs and the retail interest in the Solana memcoin ecosystem highlights the broad appeal of the market.
Looking ahead, Solana's position as the preferred platform for launching new tokens seems secure in the near term, backed up by its technical advantages such as lower fees and faster transaction times. However, the high bounce rate of new tokens serves as a reminder of the speculative nature of this activity.
