Solana News Today: Base Surpasses Solana in Daily Token Launches Amid Zora Surge

Coinbase-backed Base, a Layer 2 (L2) network, has for the first time surpassed Solana in daily token issuance, according to on-chain analytics. On July 27, Base recorded 54,341 new token launches, compared to Solana’s 25,460 [1]. This shift marks a pivotal moment in the blockchain ecosystem, driven primarily by the Zora platform’s integration into the Base App. Zora enables content creators to tokenize their work, converting social media posts into tradable ERC-20 tokens with liquidity on Uniswap. Authors receive 1% of trading fees in ZORA tokens [2].

The growth of Base has been significantly accelerated by Coinbase’s strategic rebranding of its Base App into a SocialFi platform in July. This rebranding introduced Zora and Farcaster, allowing user-generated tokens to be minted and traded directly within the app [3]. As a result, the number of daily token launches on Base increased from 6,649 to over 50,000 within a month. By August 2, Zora accounted for 64.6% of all new token launches on Base, creating 39,778 new coins on that day [4].

Zora’s “Creator Coin” model has transformed how digital content is monetized. Each Farcaster post is converted into a token, encouraging user engagement through tokenized content [5]. This innovation has drawn attention from traders and speculators, creating a vibrant but speculative market. As of August 2, Zora was the dominant force on Base, while Pump.fun and LetsBonk created only 15,132 tokens combined.

Meanwhile, Solana has seen a decline in activity, particularly in its leading platforms. Pump.fun’s user count dropped from 346,000 to 129,000 between July and the time of reporting, with trading volume falling from $337 million to $150 million. Similarly, LetsBonk’s active traders increased to 260,000, but trading volume fell to $242 million from $518 million [6]. DeFi Llama data also shows a 80% decline in Pump.fun’s revenue from its January peak of $130 million to $24.96 million in July [7].

This downturn is part of a broader slump in the meme coin market. According to CoinMarketCap, the total capitalization of the meme coin sector dropped 15% in the past week to $70.8 billion, while trading volume fell 53% to $5.4 billion [8]. The decline is attributed to reduced speculative activity and a cooling off in the hype cycle that had driven earlier growth.

Base’s success highlights the growing role of L2 solutions in supporting decentralized social platforms and user-generated content. Unlike Solana, which has been associated with fast transactions and memecoins, Base has positioned itself as a scalable infrastructure for social token creation and trading, leveraging its Ethereum-based architecture and Coinbase’s ecosystem [9]. However, the long-term sustainability of this growth is questioned by critics, who note that many tokens are created for short-term gains rather than long-term utility or governance [10].

Despite these concerns, the rapid development of Base’s token ecosystem signals a shift in digital content monetization. Creator-driven tokens are emerging as a new asset class, blending social media with DeFi and opening up new opportunities for creators and investors alike.

Source:

[1] Daily token issuance on Base surpasses Solana amid a ... (https://medium.com/@compassInvestment/daily-token-issuance-on-base-surpasses-solana-amid-a-coin-boom-from-zora-creator-the-block-6fb4a1550ce8)

[2] Zora and Farcaster Drive Surge in Token Creation on Base ... (https://crypto-economy.com/zora-and-farcaster-drive-surge-in-token-creation-on-base-network/)

[3] Base Overtakes Solana in Token Creation: Is SocialFi ... (https://www.ainvest.com/news/base-overtakes-solana-token-creation-socialfi-big-creator-economies-2508/)

[4] Zora's creator coins push Base past Solana in daily token ... (https://crypto.news/zoras-creator-coins-push-base-past-solana-in-daily-token-launches-but-will-it-last/)

[6] Base Takes Solana's Crown in Token Creation as ... (https://cryptoadventure.com/base-takes-solanas-crown-in-token-creation-as-coinbases-socialfi-ignites-zora-boom/)

[7] GeckoPulse: Where Will You Deploy Your Tokens? (https://www.coingecko.com/learn/geckopulse-where-will-you-deploy-tokens)

[8] Important News from Last Night and This Morning (August ... (https://www.panewslab.com/en/articles/16e6f82e-544a-4f47-b13a-37a5e0912bec)

[9] Dune - X (https://x.com/dune?lang=en)