April Sees Surge in New Tokens: Ethereum and Solana Lead the Way

The post April Sees Surge in New Tokens: Ethereum and Solana Lead the Way appeared first on Coinpedia Fintech News

Coinbase Director Conor Grogan reveals that nearly 1 million new tokens were created in April, with over 370,000 new tokens cropping up on Ethereum and over 640,000 new tokens, mostly meme coins, launched on Solana. Notably, this number is twice the total created on the Ethereum blockchain from 2015 to 2023. However, many in the crypto community have criticized meme coins as high-risk and have pointed them out as scams designed to exploit inexperienced investors. The regulatory environment has also been less stringent for meme coins. Analysts have warned that investors’ portfolios could drop to zero without diversification.