Base L2 Network Surpasses Solana for the First Time in Daily Token Launches

Coinbase’s supported L2 network, Base, has surpassed Solana in the daily number of newly minted tokens. This milestone was first reached on July 27, as reported by The Block.

On that date, Base added 54,341 new coins, compared to Solana’s 25,460. Last month, the daily activity on the layer two network skyrocketed from 6,649 to over 50,000 launches, primarily driven by the integration of decentralized platforms Zora and Farcaster into the Base App.

Zora converts each Farcaster post into an ERC-20 token with liquidity available on Uniswap. Creators earn 1% of the trading fees in ZORA. The Web3 social network enhances user engagement by distributing tokenized content.

As of August 2, Zora accounted for 64.6% of the total launches on Base and Solana networks. On that day, 39,778 new tokens were created on the platform, whereas Pump.fun and LetsBonk produced only 15,132.

Trading activity on leading platforms within the Solana ecosystem has been declining since early August. In July, Pump.fun recorded 346,000 users and a trading volume of $337 million, but these figures have since dropped to 129,000 users and $150 million, respectively.

A similar trend was observed on the LetsBonk platform. Although the number of active traders grew from 208,000 to 260,000, trading volumes fell from $518 million to $242 million.

According to DeFi Llama, Pump.fun also reported a decline in revenue, with July’s earnings totaling $24.96 million—80% lower than the peak of $130 million recorded in January.

This drop in activity aligns with the overall trend in the meme coin market. CoinMarketCap indicates that over the last week, the market capitalization of meme coins decreased by 15%, reaching $70.8 billion. During the same period, trading volume in this sector plummeted by 53%, falling to $5.4 billion.

It is worth noting that in July, Solana co-founder Anatoly Yakovenko labeled meme coins and NFTs as «digital garbage.»