✨ Solana Dominates New Token Launches with 89% Share
posted 15 Nov 2024
While Bitcoin grabs attention with record-breaking price rallies, Solana quietly takes the lead in hosting newly launched tokens. As of now, 89% of all new projects have chosen Solana as their starting point.
Developers favor Solana for its impressive throughput and minimal transaction fees, even under heavy load. On average, Solana processes 850 transactions per second (TPS), significantly outpacing Ethereum's 12 TPS.
Despite the flood of new tokens, only 1% secure a listing on Raydium, Solana's largest decentralized exchange (DEX). Achieving a Raydium listing is widely regarded as a milestone, signaling a token’s credibility and growth potential.
The remaining tokens either trade on smaller DEXs or fade into obscurity as forgotten meme coins on platforms like pump.fun.
For a token to qualify for a Raydium listing, it must first reach a market capitalization of $88,000 on pump.fun.
Last week alone, decentralized exchanges saw 181,000 new tokens debut, most of which were launched on Solana. A significant share of these tokens fall under the meme coin category, created via platforms like pump.fun, known for their user-friendly tools and streamlined token promotion infrastructure.
Solana’s Share of New Token Launches on DEXs. Source: theblock.co
Developers favor Solana for its impressive throughput and minimal transaction fees, even under heavy load. On average, Solana processes 850 transactions per second (TPS), significantly outpacing Ethereum's 12 TPS.
Despite the flood of new tokens, only 1% secure a listing on Raydium, Solana's largest decentralized exchange (DEX). Achieving a Raydium listing is widely regarded as a milestone, signaling a token’s credibility and growth potential.
The remaining tokens either trade on smaller DEXs or fade into obscurity as forgotten meme coins on platforms like pump.fun.
For a token to qualify for a Raydium listing, it must first reach a market capitalization of $88,000 on pump.fun.
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