Token boom: more than 1 million new cryptocurrencies have been created since April

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Cryptocurrencies are witnessing a boom in the issuance of new tokens, with more than 1 million created since April. This surge in activity is a testament to the growing innovation and emergence of new projects in the decentralized space.

Here are some of the key points:
1) Number of tokens: Since April 1, over 1 million new cryptocurrency tokens have been issued.
2) Memcoins are on the march: More than half of the new tokens (over 640,000) have been issued on the Solana blockchain, many of which are in the memecoin category.
3) Activity on Ethereum: There were 372,642 new tokens recorded on Ethereum, 88% of which were created on Coinbase’s second-tier Blockchain Base.
4) Base growth: Since the beginning of 2024, the total blocked value (TVL) on Base has increased by 630%, partly due to the popularity of memecoins.
5) Comparison with Ethereum: This surge in token issuance on Ethereum is double the total number of tokens created on the platform during 2015-2023.
6) New categories: CoinGecko recently added a memecoin category featuring over 600 assets with a total market capitalization of $52.7 billion.

It is important to note that this boom in token issuance does not guarantee the success of all new projects. Investors should conduct thorough research before investing in any crypto asset.
Memcoins are generally more risky than other cryptocurrencies due to their speculative nature. In general, the new token issuance boom demonstrates the crypto space’s dynamic nature and the potential for innovation. However, investors should be cautious and thoroughly research any projects before investing.

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