- 20,000 new tokens are being created on Solana every day.
- Sentiment around Solana remained positive despite spike in number of rugpulls.
Solana’s [SOL] network has outperformed most other protocols in terms of activity over the last few months. One of the reasons for this is the accessibility of the network and cheap fees.
Moreover, the recent memecoin frenzy has also contributed to the growth of the network.
Token creation on the rise
As a result of the combination of these two factors, market participants are creating multiple tokens on the Solana network so that they can benefit from user interest.
Based on new data, over 20,000 new tokens are being generated on Solana each day. Even though this is an indicator of a vibrant ecosystem, the creation of these many tokens on the network can have some pitfalls.
One major drawback of the deployment of such a large number of illiquid tokens would be the possibility of rug pulls occurring to addresses holding these tokens.
Even though this behavior is expected from memecoin launches, it could still impact the overall sentiment around the Solana ecosystem.
To combat these problems SolanaFM has introduced blue checkmarks that have been added to the tokens so that they can be verified. The Decentralized Exchange (DEX) Jupiter has also taken actions to help users check for legitimate tokens.
Source: X
Sentiment remains positive
Despite the uptick in the number of rug pulls on the Solana network, the sentiment around the network remained high.
AMBCrytpo’s analysis of Santiment’s data indicated that the weighted sentiment around Solana had grown significantly over the last few weeks. This implied that the number of positive comments around Solana had outnumbered the negative ones at the time of writing.
Coupled with that, the social volume around the Solana network has also grown significantly.
Source: Santiment
However, the positive sentiment around Solana was not reflected in the recent price movement around SOL. In the last 24 hours, the price of SOL had fallen by 6.21% and it was trading at $179.75 at the time of writing.
How much are 1,10,100 SOLs worth today?
This correction in SOL’s price may be a reaction to SOL crossing past the $200 threshold. If SOL manages to re-test this level it may rally even further.
However, the Chaikin Money Flow (CMF) of SOL decreased during this period. This may indicate a potential decrease in buying pressure for SOL which could impact SOL’s ability to see green going forward.
Source: TradingView
clomiphene tablets for sale get cheap clomiphene for sale can i buy clomiphene pill can you buy cheap clomiphene without rx where buy clomid without prescription where to get clomid no prescription get cheap clomid without insurance
Greetings! Extremely useful recommendation within this article! It’s the little changes which wish obtain the largest changes. Thanks a quantity for sharing!
I am in truth enchant‚e ‘ to glance at this blog posts which consists of tons of of use facts, thanks object of providing such data.
zithromax online order – ciplox us metronidazole 200mg usa
semaglutide 14mg cost – order semaglutide online cheap periactin 4mg ca
domperidone 10mg cost – buy flexeril pill buy generic flexeril for sale
purchase augmentin pills – https://atbioinfo.com/ buy acillin no prescription
esomeprazole 20mg oral – https://anexamate.com/ order esomeprazole 40mg
order warfarin pill – https://coumamide.com/ cozaar 50mg ca
mobic 15mg uk – tenderness buy generic meloxicam 7.5mg
prednisone order – corticosteroid prednisone over the counter
order amoxil online cheap – combamoxi order amoxil generic
order fluconazole 100mg online – buy forcan medication diflucan 200mg usa
purchase cenforce sale – order cenforce 50mg for sale buy cenforce 100mg for sale
cialis available in walgreens over counter?? – ciltad genesis cialis sublingual
ranitidine brand – https://aranitidine.com/# buy zantac 150mg generic
tadalafil tamsulosin combination – strong tadafl cheap cialis 5mg
This is a keynote which is forthcoming to my callousness… Myriad thanks! Quite where can I find the phone details in the course of questions? online
buy viagra with a mastercard – maxifort sildenafil 100mg herbal viagra for sale in ireland
I’ll certainly carry back to review more. natural alternatives to prednisone
With thanks. Loads of conception! https://ursxdol.com/amoxicillin-antibiotic/
More text pieces like this would urge the интернет better. https://prohnrg.com/product/omeprazole-20-mg/
The depth in this tune is exceptional. https://ondactone.com/product/domperidone/
With thanks. Loads of erudition!
buy celecoxib for sale
More posts like this would add up to the online time more useful. http://sglpw.cn/home.php?mod=space&uid=562894
forxiga 10 mg sale – https://janozin.com/# brand forxiga 10mg
buy generic orlistat over the counter – https://asacostat.com/ buy generic orlistat for sale
With thanks. Loads of conception! http://pokemonforever.com/User-Ebmscg