This month saw a massive number of new fungible tokens minted on Solana, more than at any point in the network’s history.
According to Solana’s data, 72,202 new tokens have appeared on Solana over the past two weeks using the SPL token standard. SolScan. This is more than 71 times the amount of coins created on the network during a similar period in October.
Solana’s daily statistics for new token creation are now consistently approximately four times higher than at any time since Solana launched in 2020.
The Solana ecosystem has experienced tremendous growth over the past two months. brushSolana NFTSolana meme coinEven the demand for Solana Smartphone—The rapid increase in token creation cannot be explained by an organic increase in network activity.
Number of new SPL tokens created daily over the past 3 months. Provided by: SolScan
“We can probably assume that (new SPL token creation) will double or triple due to the increase in general activity.” slogAnonymous blockchain investigator and project leader of the Solana NFT tool brush incineratorsaid decryption. “But how do you calculate the remaining 6,000 tokens per day?”
Slorg recently ran into this conundrum when fake tokens from Sol Incinerator appeared on Solana. By tracking on-chain transactions, Slorg and the team discovered that fraudsters created dozens of new SOL coins on the same day, pumping and dumping each coin within minutes, before moving on to the next phase: PUZZ, RUN, and BABY. There are DINO, DEGEN BOT, etc.
Today our team discovered that someone had released fake Incinerator tokens on Birdeye.
Things got a lot more interesting when I started looking into responsible wallets.
16 hours ago he sent himself a SOL on Binance, which was the first transaction on the chain. pic.twitter.com/LToXpQPEYC
“Of the 7,000 tokens released each day, most of them are breakout type tokens, like the 30 per day for those looking at Birdeye’s ‘recent’ tab,” Slorg said, referring to popular cryptocurrency exchanges. data collector. “We found wallet traces where one person released 300 (tokens) directly in one week,” Slorg tweeted this week.
To be clear, not all hyped Solana meme coins last longer than an hour. BONK insisted on sophistication. roadmap Tokens (including the launch of the popular BonkBot automated trading bot) It was released by a team including prominent Solana builders and enjoys broad ecosystem support. and Dog We Fat We have been maintaining our capital steadily since our launch last month.
However, the success of some of these tokens in the context of Solana’s widespread resurgence appears to have attracted enough distributors to flood the ecosystem with fake coins, drawn by the prospect of earning a few dollars for every bit.
“A lot of people say to me, ‘This is the whole point of cryptocurrency,’” Slorg said. “And that’s kind of demoralizing because we think we can do so much more.”
Editor: Andrew Hayward
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