Data shows that the creation of new cryptocurrency tokens on the Solana network has reached a peak.
Over the past seven days, an average of more than 7,800 SPL tokens have been created each day on the Solana blockchain network.
Solana is a popular Proof-of-Stake (PoS) cryptocurrency blockchain network known for its high network speeds that make it cost-effective compared to other networks. Proof of History (PoH) allows the Solana network to process transactions at extremely high scalability.
According to on-chain data, an average of 7,800 SPL tokens have been created on the Solana blockchain network over the past seven days, with the highest number of tokens created on the network being 9,690 on March 11.
Most of the new tokens on the Solalna network are just part of the Crypto meme trend. Over the past few weeks, we have primarily seen the popularity of the SPL meme crypto token.
Interestingly, most of the most popular cryptocurrency meme tokens are SPL tokens, showing that new cryptocurrency meme projects are not willing to miss out on opportunities on the Solana network.
sol price action
The current trading price of Sol Coin is $192, which is up 9.5% in the last 24 hours.
In particular, the trading price of Sol Coin has surged nearly 8.8 times over the past 12 months, which is great evidence that cryptocurrency investors are very optimistic about Sol Coin.
During the last cryptocurrency bull market, everyone in the cryptocurrency industry called Solana the biggest competitor to the Ethereum blockchain. However, Solana community developers faced massive criticism, and Solana faced a huge downfall when bugs appeared in the Solana blockchain and the network went offline several times. Code with high network load.
Also read: Kiyosaki explains why Bitcoin will always remain a better investment asset despite its extremely high price.