Base continues to shrink by overtaking Solana with daily tokens created as pump.fun

Zora, Coinbase’s Ethereum Layer-2 network-based token launchpad, accounts for more tokens than Solana’s big hitters Pump.Fun and Letsbonk on Monday.

Last month, Zora created about 6,500 tokens per dune every day, exploded into the highest ever token of 51,575 tokens created in one day on Monday. In comparison, Letsbonk created 22,554 and Pump.fun. It’s only 4,173. Zora accounts for 67.7% of all token creations on Base and Solana.

“This is the first time a chain has released more tokens than Solana since early 2023,” tweeted Coinbase director Connor Grogan.

Pump.Fun’s market share has been shrinking significantly since the beginning of the year, with rival platform Letsbonk surpassing that for Solana Token Creations. Zora, a social media platform that now turns all posts into tokens, has surpassed both platforms after massive growth.

After its launch in January 2024, Pump.Fun quickly became Crypto’s go-to app, generating around 5 million tokens by the end of the year. To put that into perspective, Etherscan can only find 1.6 million ERC-20 tokens on Ethereum.

“What’s crazy is that these aren’t just bots who launched the tokens,” tweeted the head of base defi, known simply as Johnny. “These are the users who create the content, and instead of the content being viral and tokenized and traded.”

Adam Tehc, data analyst and creator of the dun dashboard, has previously been reported Decryption He believes that of the top 50 most profitable pumps, only one of them believes is human, according to the dashboard.

TEHC explained that it buys bot-controlled wallets, mass deployment tokens, supplies at launches and pulls lags within minutes or seconds. In January, one trader bagged $840,000 in three months by creating 17,000 tokens and selling the supply within seconds.

This strategy has become more profitable by implementing the creator’s revenue sharing feature, splitting some of the transaction fees with the token deployer.

Zora vs Pump.Fun

Zora is a very different platform than Pump.Fun. Zora transforms all posts on social media platforms into a base token. The trader then buys and sells the post and essentially bets on its virality. In this sense it is similar to Pump.fun.

Bot activities in Zola are still possible, but its fans and creators claim that the platform encourages authentic posts to be better. At Pump.fun, part of the appeal is that anything stupid, funny, or related can skyrocket.

Pump.Fun, for example, peaked at a market capitalization of $16 million on Wednesday as news spreads in Hawaii’s tsunami. It was launched by a wallet that created over 370 coins. Much of this is news-related and is a replica of the wallet’s own token.

Scrolling through Zolafeed, you’ll find occasional posts that seem to be low on the effort, but the majority of posts are either art or apparently authentic portrayals of everyday life.

One of Zora’s most successful projects is the series Lemonade Stand by artist Jack Butcher. The 10-part artwork originally priced between $1,000 and $0.00001, but has recently been changed to slices from the pie chart. The audience was confused, but they got caught up in the film.

“At least Jack is always trying something different,” tweeted kana trader Consets. “I think he’ll be in the Threadgee stream tonight. I wonder if there’ll be a cool mechanic to be announced.”