Coinbase has just ended Solana's 2-year dominance – What will happen next?

A turning point is shaking the crypto community: Coinbase’s Base Network has surpassed Solana (SOL) in the number of tokens launched daily.

In fact, this is something that no other chain has been able to do for the past 2 years. The transformation began around July 26 and shows no signs of slowing down.

The driving factor behind this explosion is Zora Coins – a launchpad platform built on Base, currently issuing more than 60,000 tokens per day, with some times reaching nearly 80,000. This number far exceeds that of token issuance platforms with large volumes on Solana such as Pump.fun or LetsBonk.

Source: DuneFrom a technical perspective, the chart shows a notable change in the dominance ratio of volume right after June 29.

Launchpad platforms on Solana like Pump.fun have still led throughout May and early June, but native tools of Base like Zora and Moonshot have taken the lead since then.

Moreover, the black bar is increasingly large (representing Zora) not only reflects the increasing number of tokens issued. It also indicates a deeper network consolidation on Base – where one blockchain is currently capturing a large share of the token creation market.

The Rise of Base and the Resilience of Solana

As the Web3 ecosystem matures, blockchains are clearly optimizing for performance and scalability. In this context, Base is emerging as a prominent name. So what is driving this breakout?

To understand better, Base operates as a layer 2 rollup solution on Ethereum. This means it inherits the security level of Ethereum while significantly reducing gas costs and improving transaction throughput.

In addition, Base is fully compatible with EVM, allowing developers to easily deploy applications without many obstacles. Combined with the backing from Coinbase, Base becomes a reliable and user-friendly starting point.

Source: Token TerminalHowever, Solana still leads in transaction throughput, with the ability to process over 4,000 transactions per second (TPS) directly on-chain. Such power makes Solana an ideal choice for applications like DeFi, where speed is a non-negotiable factor.

However, when it comes to launching tokens, Base is taking center stage. Tools like Zora and Moonshot make token creation extremely simple and quick.

Therefore, in this context, the important factor is no longer the maximum number of transactions per second, but the convenience and creative energy from the community of developers. With areas such as memecoin, social tokens, and community airdrops, Base is rapidly becoming the top choice chain.

Dinh Dinh