News
April sees a surge in new tokens: Ethereum and Solana lead the way
Coinbase director Conor Grogan reveals that nearly 1 million new tokens were created in April, with over 370,000 new tokens popping up on Ethereum and over 640,000 new tokens, mostly meme coins, launching on Solana. Notably, this number is double 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 to them as scams designed to exploit novice investors. The regulatory environment has also been less stringent for meme coins. Analysts have warned that investors’ portfolios could sink to zero without diversification.