5,300 new tokens are launched daily in 2024: CoinGecko
Crypto market sees over half a million new tokens in early 2024, driven by memecoin trends.
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Over 540,000 tokens were created as of early April, averaging 5,300 new tokens daily in 2024, according to a CoinGecko report. This rapid pace has already surpassed half of the 830,000 new tokens from the previous year, indicating a potential record-setting year for token launches. The proliferation of crypto, now exceeding 2.5 million, represents a 5.7-fold increase from the 440,000 at 2021’s close.
The milestone of one million crypto was first reached in September 2022, ending the year at 1.15 million and registering a 159% year-on-year growth. The trend continued with a 72.3% increase to 1.98 million by the end of 2023. Despite the surge, the total count includes ephemeral meme coins and defunct coins, reflecting a broader move toward tokenization.
Moreover, the report highlights that “meme coin seasons” have notably influenced token creation spikes, with a record high of 195,735 new tokens in March 2024 following a meme coin trend resurgence. Platforms like Pump.fun facilitate token launches, suggesting future meme coin seasons could trigger even larger surges.
The consistently high numbers of new tokens in January and February 2024 also point to a rise in on-chain speculative activity beyond meme coin trends.
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