Altcoin
106,000 New Altcoins Pop Up on the Solana Blockchain
Solana blockchain has leveled up to become a platform of choice for new projects looking to launch. The data shows a significant increase in tokens issued by the network this week.
Developers appear to be flocking to the Solana network to distribute their new tokens, attracted by several offerings unique to the blockchain.
106,000 new Solana-based Altcoins
According to data from wallet platform StepFinance, more than 106,000 new tokens emerged from the Solana blockchain this week. Some of these altcoins, including MW, were a carpet, while others stay available for swap operations. It’s worth noting that this count excludes non-fungible tokens (NFTs) built on Solana.
Solana’s high-speed, low-cost transactions make it an attractive platform for developers looking to launch new tokens quickly and efficiently. The network’s ability to process thousands of transactions per second provides an ideal environment for creating and exchanging tokens.
“Solana is the chain of the people. Understand that and you’ll be fine,” noticed Jakey, a CUBE creator.
To know more: 6 Best Platforms to Buy Solana (SOL) in 2024
New SPL tokens on Solana. Source: StepFinance
Along with the surge in new tokens on Solana, the network’s Total Value Locked (TVL) increased by $166 million in the past 24 hours. An increase in TVL often suggests that many users are entering the DeFi space, which could increase demand for its services.
This despite the speculation Solana is under investigation. The rumor, publicized by Crypto influencer Bitlord, drew more engagement, with analysts shooting down Solana.
“We are witnessing the death of Solana. The Solana Foundation, under pressure from the Fed, is unable to implement algorithmic trading strategies to defend this diagonal level. We are witnessing history.” She said cryptographic analyst Evanss6.
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