Solana Records 1.2 Million New SPL Tokens in April, Highlighting Memecoins as the Main Attraction

In April, Solana experienced a significant spike in the creation of tokens, with over 1.2 million new Solana Program Library (SPL) tokens minted during the month. SPL serves as the token standard for the Solana blockchain, akin to the ERC-20 standard for Ethereum.

Analytics from Solscan reveal that the average number of tokens minted daily ranged from 30,000 to 55,000 throughout this period.

This marked increase was largely fueled by the rise of memecoins, many of which were launched via a platform named Pump.fun.

Pump.fun is designed to enable users to create and trade meme-themed tokens easily, providing an intuitive interface that does not require technical expertise while incorporating measures to reduce typical security vulnerabilities.

As a result, this platform has emerged as a prominent entity within the cryptocurrency sector, positioning memecoins as a key contributor to Solana’s on-chain activities.

Data from an asset management firm indicates that memecoins comprised 44% of the decentralized exchange (DEX) volume on Solana in January 2025, which slightly decreased to 35% in April.

When stablecoins, SOL, and liquid staking tokens are excluded from the equation, memecoins accounted for an overwhelming 99% of trading volume in January and 95% in April.

The surge in interest surrounding memecoins has led to record fee generation for both Solana and Pump.fun this year.

Token Terminal data shows that Pump.fun has amassed $296 million in transaction fees year-to-date, while Solana has accumulated $414 million in fees during the same timeframe.