In January 2025, up to 600,000 new tokens were created, 12 times the average for 2022-2023. This surge is due to platforms such as Pump(.)fun and SunPump, which allow the creation of tokens (especially meme coins) without requiring complex technical knowledge.
Experts are concerned that liquidity is fragmented, making it difficult to have a strong "altcoin season" like before. The meme coin fever also increases the risk of fraud, causing network congestion (typically Solana).
Previously, money flowed from Bitcoin to Ether and then poured into altcoins and memecoins. Currently, large financial institutions are participating more, causing a change in the way capital circulates and the market is less likely to explode like in previous cycles.