Meme Craze: Half a Million New Tokens Appear on Solana Network
🙀 455,000 new coins appeared on the Solana blockchain in May. The figure reached a monthly high due to low entry barriers and the hype around meme tokens.
During the same period, 177,000 coins were issued on the L2 Base network, and 39,000 on the BNB Chain. Approximately 20,000 tokens were created on the Ethereum mainnet, as well as on second-layer solutions Arbitrum and Optimism. 🧐
"Solana is built to be a general purpose layer 1, with fast finality and high throughput with extremely low transaction fees"
- noted Austin Federa, Head of Strategy at Solana Foundation.
👀 In his opinion, the mass adoption of the network is due to these characteristics, so "the cost of experimentation and new idea creation to near zero". He believes that tokens on Solana "should be as easy to create as content on the internet". 👍
🐶 Most of the new coins on the blockchain are meme tokens. According to CoinGecko, the market cap of this segment is $9.4 B.
Check our post below for promising airdrops 🐐🔥
