Tue October 8, 2024 â–ª
3
min reading â–ª acc
Solana has established itself as the undisputed leader in launching new tokens in the crypto ecosystem. With over 87% of new tokens created on its platform, Solana is far ahead of its competitors. This dominance is fueled by significant technological advancements and growing adoption by developers.
Exponential growth of token launches
The Solana network has seen a real explosion in the number of new tokens since the beginning of the year. As of September 2024, over 96,000 tokens have already been created on Solana, out of a total of 110,180 across all networks.
This explosive growth shows no signs of slowing down, with more than 100,000 new tokens generated on the platform every month.
This growth is largely explained by the ease of use of Solana’s token creation tools. Platforms like Pump.fun have made this process much easier and accessible even for newbies.
Additionally, the network’s speed and low transaction costs make it the preferred choice for launching new projects.
The memecoin craze also played a vital role in this explosion of startups. Often created for speculative purposes, these tokens find fertile ground on Solana to grow rapidly and attract the attention of investors looking for quick profits.
Tough competition with Base
Although Solana largely dominates the market, the Base blockchain stands out as its main competitor. As of April 2024, these two networks share more than 80% of the token creation market, leaving little room for other players.
This competition spurred innovation on both platforms. Solana continued to improve its performance and scalability, while Base focused on its integration with the Ethereum ecosystem to attract developers. This rivalry benefits users who benefit from the constant improvement of services and features offered.
Beyond just creating tokens, Solana and Base now play a key role in evaluating and promoting new blockchain projects. Their ability to attract and retain talent helps enrich their respective ecosystems and cement their dominance in the crypto market.
In conclusion, Solan’s dominance in token startups looks set to continue. With its robust infrastructure and dynamic community, the platform continues to attract developers and investors. However, Base’s stiff competition and rapid industry developments may bring surprises in the coming months.
Maximize your Cointribune experience with our “Read and Earn” program! Earn points for every article you read and get access to exclusive rewards. Register now and start reaping the benefits.
I am passionate about Bitcoin, I love exploring the intricacies of blockchain and cryptocurrency and sharing my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
