More Than 600,000 New Tokens Were Launched on Solana and Base in the Month of May
TL;DR
The recent firehose of memecoins coming from Solana and Base might feel fickle (and they are), but memecoins act as an onramp for new users.
Full Story
Three years ago we had our minds blown by this video, titled:
“How to make a cryptocurrency for less than $2”
…all you needed to do was buy some BNB tokens, swap them into smart chain tokens, copy and paste some code — and BOOM!
You had your own cryptocurrency.
It was amazing to us how accessible the process felt.
Nowadays, that tutorial feels riddled with needless friction, given that you can go to pump.fun/create → fill out a four part form (token name, ticker symbol, description, image) → then one-click launch your token.
This low barrier to entry led to — wait for it — 455,000 new tokens being launched on Solana last month.
Which is a huge deal!
Not just for Solana and its holders, but for the entire space.
Because while coin/token maximalists are often the loudest voices — they actually make up a minority of crypto users.
(E.g. More than 80% of Bitcoin holders also hold other coins/tokens).
The recent firehose of memecoins coming from Solana and Base might feel fickle (and they are), but memecoins are a massive onramp for new users.
They come in looking to ‘catch a quick win’
They rarely do (but its softened by the fact that most folks don’t invest more than a few hundred dollars into these tokens)
They regroup and start to explore more measured approaches, learning about the major projects in the process
It’s weird.
…but it works.