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22 May 2024
Since the beginning of April, over 1 million new tokens have appeared in blockchains

Since the beginning of April, the number of new tokens emerging in the blockchain has exceeded 1 million. According to information from Dune, of this number, over 370,000 were issued on Ethereum, and around 640,000 on Solana.

On Ethereum, during this period, 372,642 tokens were created, with 88% of them launched on the L2 solution Base. This surge in activity is likely linked to low transaction fees and interest in meme tokens.

Coinbase Director Conor Grogan emphasized that the number of new tokens during this period is twice the total issued from 2015 to 2023.

According to L2Beat, the volume of locked funds on the Base platform increased by approximately 630% since the beginning of 2024.

On Solana, since the beginning of April, according to Step Finance data, 643,227 new tokens have been created. According to Dune data associated with assets on the pump.fun platform on Solana, 466,914 of the total new coins were meme tokens.