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Solana has emerged as the dominant platform for token launches in 2024, accounting for over 87% of all new tokens created on decentralized exchanges (DEXs), according to THE BLOCK data. In late September alone, Solana saw the launch of 96,010 tokens across tracked blockchains. This explosive growth is attributed to Solana's low fees, high transaction speeds, and a vibrant community. The surge in token launches is also driven by the popularity of memecoins, with Pump•fun being a notable example. Solana's co-founder, Anatoly Yakovenko, noted that the rise of memecoins is pushing crypto projects to prove their worth in a competitive market.
Memecoins Flipping the Game: Solana Boss Drops Some Insights Anatoly Yakovenko, Solana’s co-founder, just laid out some truth: memecoins are forcing crypto projects to level up. Forget the pump-and-dump vibes - memecoins are sucking up all the hype, pushing serious players to… https://t.co/JVjZ5Dmrg3
Memecoins Fuelling the Next Wave of Crypto Growth Co-founder of Solana's, Anatoly Yakovenko, take is sharp: memecoins are forcing projects to prove their worth in a saturated market. The hype is real - $53B locked into memecoins like DOGE, SHIB, and PEPE, and it’s driving real… https://t.co/vCOTeb7uZW
VanEck portfolio manager says crypto projects should emulate key memecoin traits via @pelimatos https://t.co/ii8wQcLZNO
