Solana Breaks Record With Mass Launch Of New Tokens

Solana broke the record with the launch of a new token in mass (Photo; Doc. Beingcrypto)

JAKARTA - Solana appeared as a new star with impressive achievements. In May it witnessed the silentness of the birth of more than 450 thousand new tokens on this platform, a number that not only shocked but also marked a new era in the creation of digital assets. With the burning spirit of innovation, Solana has proven itself to be a fertile field for revolutionary ideas and bold experiments in the crypto world.

According to the latest data from The Block, Solana has launched 455,000 new tokens, a surprising number and far beyond the achievement of the Ethereum Layer 2 Base network which only recorded 177,000 tokens, as well as the BNB Chain with 39,000 tokens. In fact, Ethereum mainnet and other Layer 2 networks such as Arbitrum and Optimism, each recorded only less than 20,000 new tokens.

Austin Federa, head of strategy at the Solana Foundation, revealed that Solana is designed as a versatile layer 1 with fast finalization capabilities, high transaction capacities, and very low costs. A significant increase in token creation in Solana is the fruit of this superior characteristic, which allows experimental costs and innovation of new ideas near zero. Creating tokens in Solana should be as easy as creating content on the internet," Federa said.

The majority of tokens launched in Solana are memecoins, which have managed to attract the attention and interest of the crypto community. This phenomenon was triggered by the success of some Solana-based memecoins such as Dogwifhat, Bonk, and Book of Meme, which jumped sharply in the crypto market rankings.

This success cannot be separated from the role of Pump.fun, a platform that makes it easy to create tokens with just a few clicks. This convenience has driven a wave of new token creations, with Solana recording the launch of 1.1 million new tokens so far this year.

Platform Pump.fun juga menjadi katalis bagi memecoin politik seperti Jeo Boden dan Doland Tremp, yang menemukan momentum menjelang pemilu AS. Memecoin politik ini mengalami surge popularitas minggu lalu setelah Trump dinyatakan bersalah atas 34 dakwaan pemuan catatan bisnis.

Steven Zheng, research director at The Block, added, "The memecoin craze combined with Pump's success has put Solana on the front lines as a blockchain option for the launch of a new token. However, it is still a question whether Solana can maintain this interest in launching tokens outside of memecoins."

Recently, celebrities such as Caitlyn Jenner and Iggy Azalea also took part in this trend by launching Solana-based tokens, leveraging convenience and potential increase in token value thanks to their large fan base.