Nearly half of the one million new tokens launched since April 1 have been memecoins created on the Solana network.
More than 1 million new tokens have been created since the start of April, with over 370,000 new tokens cropping up on Ethereum while over 640,000 new tokens — mostly memecoins — were launched on Solana.
A total of 372,642 new tokens were launched on the Ethereum network since April 1 — 88% of which, or 327,553 — were launched on Coinbase’s layer-2 blockchain Base. The layer-2 network has witnessed an explosion in activity brought about by degens flocking to the low-cost network to whip up new memecoins.
A similar figure was cited in a May 14 post to X by Coinbase director Conor Grogan who noted this was twice the number of tokens ever created on Ethereum between the eight-year period spanning from 2015 to 2023.
