Solana Blockchain Leads Token Launches in 2024 with 87% of Total Market Share

Throughout 2024, the Solana blockchain has stood out in the cryptocurrency sector for its numerous token launches. By the end of September, the network had registered an impressive 96,010 new tokens, representing more than 87% of the total launched across all tracked chains , which total 110,180.

This significant volume both reinforces Solana’s dominant position in the decentralized exchange (DEX) market and shows considerable progress for the platform.

The increase is so significant that, looking at the chart of launches throughout the year (image below), we can see that the number of new tokens started practically from zero. Then, from mid-2024 onwards, it began to consistently surpass the 100,000 mark per month.

Solana and Base dominate the market with launches

While Solana continues to lead the blockchain market, the Base network has not been left behind either, with significant growth in activity. Since April, both have been competing for the top spot on the list of blockchains with the most token launches, accounting for more than 80% of all creations.

As a result, this duopoly shows the intense competition among decentralized exchanges (DEXs) and reflects a shift in the behavior of token creators and investors.

Much of this surge, especially on Solana, is related to the rise of meme coins, which dominate new launches. Tools like the pump.fun platform simplify the process of creating tokens, fueling a wave of speculation in the market.

While not all of the recently created tokens are meme coins, most seem to follow this trend, driven by social media hype and enthusiasm around cryptocurrencies.

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