Solana's Token Issuance Surges, Outpacing Ethereum Layer-2s

IconCryptoNewsTerminal Staff11 Jun, 2024

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Solana's Token Issuance Surges, Outpacing Ethereum Layer-2s

The Solana blockchain has seen a significant increase in token issuance activity, surpassing Ethereum layer-2s in recent months. According to data from Bitcoin.com, over 549,000 tokens were issued on Solana in the past month, while only 80,235 new tokens were issued on Ethereum, Base, Optimism, Blase, and Arbitrum combined during the same period. Solana's low transaction fees and fast processing times make it an attractive platform for issuing new tokens, particularly meme coins. Out of the tokens issued on Solana, the vast majority were meme coins, demonstrating the growing popularity of meme tokens within the cryptocurrency ecosystem.

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