Data shows the Birth of new Crypto tokens on the Solana network is at a peak
In the last 7 days, an average of more than 7,800 SPL tokens were born on the Solana blockchain network every day.
Solana is a popular Proof-of-Stake (PoS) crypto blockchain network which is mainly known for its high network speed, which is highly cost-effective over other networks. Proof-of-history (PoH) allows the Solana network to process transactions with very high scalability.
According to on-chain data, an average of 7,800 SPL tokens took birth on the Solana blockchain network in the last 7 days and notably highest number of token births on the network was 9,690 on 11th March.
The majority of the new tokens on the Solalna network are only part of the Crypto meme trend. Over the last few weeks, we saw the popularity of mainly SPL meme crypto tokens.
Interestingly the majority of the top trending crypto meme tokens are SPL tokens and this is showing that new crypto meme projects are not in the mood to miss the opportunity with the Solana network.
Sol price action
The current trade price of Sol coin is $192 & this trade price is 9.5% higher over the last 24 hours.
Notably the trade price of Sol coin surged nearly 8.8 fold in the last 12 months and this is very big proof that crypto Investors are highly bullish on Sol coin.
In the last crypto bull run, everyone in the crypto sector called Solana the biggest rival of the Ethereum blockchain but Solalan community devs faced huge criticism & Solana faced a huge downfall, as the network went offline multiple times as a bug appeared in the Solana blockchain code under a high network load.
Read also: Kiyosaki explains why Bitcoin will remain always a better investment asset even at a very high price
