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Over 1 million new crypto tokens launched since April

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Over 1 million new crypto tokens launched since April

The crypto community has created over a million tokens across all chains in the last month, with Solana and Ethereum leading the crypto token frenzy. According to the director of Coinbase, these numbers doubled the tokens created Ethereum between 2015 and 2023.

Over 22,000 new crypto tokens created every day

Coinbase director Connor Grogan shared on X that 1 million tokens have been launched since April 1, 2024. Tokens created in the Ethereum network represent 36% of the total number, with 372,642 tokens launched in the last month and a half.

According to Dune Analytics, 327,553 tokens have been launched on the Base Layer-2 blockchain, approximately 88% of the total. The surge was apparently driven by the memecoin frenzy that has taken over this cycle.

cryptocurrencySince April, token creation has increased exponentially. Source: Dune analysis

Additionally, Ethereum and Arbitrum saw significantly fewer new crypto tokens launched, with 21,474 and 19,284 new tokens respectively.

However, Solana took the crown after seeing the creation of 643,227 tokens since April 1st. Of these, 464,563 are memecoins, according to Dune analysis. Grogan also highlighted that Solana sees an average of 20,000 new tokens per day.

As reported by Solana Floor, the blockchain hit a new all-time high (ATH) of newly created tokens on Monday, with 23,000. This could be attributed to the market pump fueled by the return of popular cryptocurrency trader Roaring Kitty. Since his return to social media, several new memecoins have been created and the major ones have increased.

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The crypto community reacted to the surprising numbers, expressing many concerns. A user he underlined that most of these tokens are “just spam for farming sniper bots”. He said some people flip tokens “just to eliminate auto-purchased bots.”

Another user jokingly added, “The moral of the story is don’t buy projects created after February 2024.” This year, investors witnessed the launch of numerous projects that promised big returns. Instead, investors suffered manipulation and other scams.

Altcoin Overabundance?

In late April, DeFi researcher and Web3 investor Thor Hartvigsen he underlined that, just four months into the year, the market had seen a massive increase in altcoin supply.

As a result, this increase represented $8.6 billion in additional liquid supply entering the market. Hartvigsen added that crypto projects will unlock $70.5 billion over the years, with many tokens launched in 2023 “unlocking again this year with many cliffs finishing.”

Furthermore, the market observer highlighted that the average market capitalization float and fully diluted valuation (FDV) for the tokens thrown in the first quarter of 2024 it was just 13.6%.

cryptocurrencyList of some altcoins launched in Q1 2024. Source: Thor Hartvigsen

For him, this is just “the tip of the iceberg,” as the cryptocurrency market will continue to be flooded with new supplies and tokens. He offered a list of categories that he thinks will see the most new pitches this year.

Its list included modular infrastructure protocols, liquid restaging tokens (LRTs), bridge and cross-messaging solutions, and perpetual decentralized exchanges (DEXs).

Tuesday, DeFi researcher Ignas shared a list based on the recently launched low-float tokens shared by Hartvigsen. According to him, these tokens are down an average of 63.6%.

According to the researcher, tokens such as JUP, ONDO and STRK have seen a decrease of 49.2%, 30.5% and 74.2% compared to ATH prices.

cryptocurrency, TOTALAccording to the weekly chart, the total capitalization of the cryptocurrency market stands at $2.28 trillion. Source: TOTAL assets TradingView

Featured image from Unsplash.com, chart from TradingView.com



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Crypto Millionaire “Digital Diamonds” Explains Why These 3 Tokens Can Change Your Life

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Crypto Millionaire “Digital Diamonds” Explains Why These 3 Tokens Can Change Your Life

In the ever-evolving world of cryptocurrencies, some tokens stand out as potential game-changers. Recently, a crypto millionaire shared insights into three tokens that could have a significant impact on your financial future. Among these are Alex The Doge (ALEX), a rising star in the meme coin market. Let’s delve deeper into why Alex the Doge (ALEX) and two other tokens are worth considering for life-changing gains.

The charm of Alex the Doge (ALEX)

Innovative ecosystem: Alex the Doge (ALEX) it’s not just another meme coin; offers a robust ecosystem that integrates social finance (Social Fi) and play-to-earn (P2E) gaming. The Miracle Verse, a virtual world where players can earn Alex The Doge (ALEX) tokens through various in-game activities, is a testament to his innovative approach.

Efficiency and scalability: Built on the Ethereum(ETH) network, Alex The Doge (ALEX) benefits from low transaction fees and fast processing times. This ensures a smooth user experience and supports the scalability of the project, making it an attractive option for both gamers and investors.

Community commitment: Like other successful meme coins, Alex The Doge (ALEX) thrives on a strong and active community. This commitment is key to stimulating demand and maintaining interest in the project. Community trust in Alex The Doge (ALEX) fuels its rapid growth and market presence.

The Power of Token 2: Ethereum (ETH)

Foundation of decentralized applications: Ethereum (ETH) revolutionized the world of cryptocurrencies by introducing smart contracts and decentralized applications (dApps). Its blockchain serves as the foundation for numerous projects, making it an essential part of the crypto ecosystem.

Growing adoption: Ethereum (ETH) continues to see widespread adoption across various industries. From finance to gaming, many industries leverage Ethereum’s capabilities, ensuring its long-term relevance and growth.

Upcoming updates: With the continued development of Ethereum 2.0, the network aims to resolve scalability issues and reduce transaction fees, further increasing its attractiveness for both developers and users.

The Charm of Token 3: Solana (SOL)

High-speed transactions: Solana (SOL) is known for its lightning-fast transaction speed and low fees. This makes it an ideal platform for high-frequency trading and decentralized finance (DeFi) applications.

Strong development community: Solana (SOL) boasts a vibrant and innovative development community. Continuous improvements and new projects on the Solana network contribute to its growth and adoption.

Ecosystem expansion: The Solana ecosystem is rapidly expanding, with numerous projects and partnerships increasing its usefulness and value. From DeFi to NFTs, Solana is becoming a hub for diverse blockchain applications.

Why these tokens stand out

Innovation and Utility: Each of these tokens offers unique innovations and practical applications that increase their value. Alex the Doge (ALEX) combines meme culture with gaming and finance, Ethereum (ETH) provides the backbone for decentralized applications, and Solana (SOL) offers unprecedented transaction speed and scalability.

Community and adoption: Strong community support and widespread adoption are the common threads between these tokens. Engaged communities drive demand and foster a sense of loyalty, while growing adoption ensures long-term relevance and growth.

Potential growth: Despite their current successes, each of these tokens has considerable room for growth. Through technology upgrades, ecosystem expansion, or innovative applications, Alex The Doge (ALEX), Ethereum (ETH), and Solana (SOL) are well positioned for future gains.

Bottom line: Transformative investing

In conclusion, they highlight the insights of the crypto millionaire Alex the Doge (ALEX), Ethereum (ETH), and Solana (SOL) as transformative investments. These tokens are not only leaders in their respective niches, but also offer the potential for life-changing financial gains. Alex The Doge (ALEX) stands out with its unique blend of social finance and gaming, Ethereum (ETH) continues to revolutionize decentralized applications, and Solana (SOL) impresses with its speed and scalability. Investors looking for opportunities to change their financial future would be wise to consider these digital diamonds in the cryptocurrency market.

For more information on the Alex The Doge (ALEX) pre-sale please use the links below:

Disclaimer: This is a paid version. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of the information available in such content. Do your research and invest at your own risk.

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Nvidia surpasses Microsoft, Apple; AI Crypto Token Rally

TokenTalk Staff

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Nvidia Tops Microsoft, Apple in Market Cap; AI Crypto Tokens Fetch.AI and Render Rally

Nvidia, the American graphics processing unit (GPU) maker, overtook tech giants Microsoft and Apple as the most valuable company on Tuesday.

This surge in Nvidia’s market capitalization triggered a rally in AI-themed cryptocurrencies.

AI tokens rally as Nvidia overtakes tech giants

According to the latest data, Nvidia (NVDA) stock price is now $135.58, giving it a market capitalization of $3.33 trillion. Meanwhile, Microsoft and Apple have market capitalizations of $3.31 trillion and $3.28 trillion, respectively.

To know more: 9 Best AI Stocks to Buy in 2024

Nvidia market capitalization.Nvidia market capitalization. Source: CompanyMarketCap

The main driver of this growth is the demand for artificial intelligence (AI) products, which have increasingly become an integral part of various industries as of 2023. Q1 2024 Earnings Report shows that its data center category saw a 427% increase in revenue to $22.56 billion. This category includes AI chips and AI server components.

Nvidia’s success has also had an impact on the cryptocurrency market. Top AI-themed cryptocurrenciesincluding Fetch.AI (FET) and Render (RNDR), have increased substantially over the past 24 hours.

The price of FET rose 16.3%, now valued at $1.33. In the meantime, RNDR recorded an increase of 10.3%., currently trading at $7.75. Plus, data from the on-chain analytics tool Santiment Shows that RNDR recorded a 33.33% increase in social volume changes during this period.

FET price trend.FET price trend. Source: BeInCrypto

In the long term, Nvidia’s influence on the artificial intelligence and cryptocurrency sectors it should be deep. A report from asset manager Bitwise highlights how the artificial intelligence boom has had a significant impact on data centers, creating a shortage of AI chips and access to electricity.

Bitcoin miners, equipped with powerful chips and advanced cooling systems, provide the necessary infrastructure for artificial intelligence companies. As a leading manufacturer of AI chips and GPU for cryptocurrency miningNvidia can benefit significantly from growing demand.

Greg Beard, CEO of Stronghold Digital Mining, noted that research analysts are sounding the alarm about growing energy demand driven by the expansion of AI data centers. He cites a Goldman Sachs report from April that said data center energy demand, excluding cryptocurrencies, is expected to grow 160% in 2030 compared to 2023.

However, the infrastructure is not sufficient to meet the demand. Additionally, Beard pointed out that the U.S. electric industry has not developed new core energy infrastructure in nearly two decades.

To know more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

“AI developers are well capitalized and in a hurry to build, but they face serious barriers to accessing power. The most obvious access to this power is existing Bitcoin mining sites already connected to increasingly valuable energy sources. The only way for AI developers to attempt to overcome the resource gap and solve their future energy needs is to develop new sites and repurpose existing ones, like Bitcoin miners,” Beard told BeInCrypto.

Disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to providing impartial and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyAND Disclaimer They have been updated.

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Top 3 Crypto Tokens That Bridge the Gap Between AI and Blockchain

TokenTalk Staff

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Top 3 Crypto Tokens That Bridge the Gap Between AI and Blockchain

Crypto tokens can bridge the gap between AI and blockchain by leveraging the unique attributes of both technologies. Blockchain’s decentralized and immutable ledger ensures that the data used by AI models is secure and tamper-proof.

Cryptographic tokens can be used to incentivize the accurate and honest presentation of data, ensuring that AI systems have reliable, high-quality inputs.

A smart contract could automatically pay for the use of a dataset when an AI model accesses it, streamlining operations and reducing the need for intermediaries.

Here are the three best crypto tokens that connect AI and blockchain and an in-depth look at how artificial intelligence influences cryptocurrencies.

1. Rendering (RNDR)

Despite losing about 10% over the past seven days, Render is up 11% today. Render Network allows users to access decentralized GPU rendering power for various tasks, including AI model training and rendering complex graphics. Using blockchain technology, Render guarantees a transparent, secure and efficient market for rendering services.

The RNDR is used as a currency within the network to pay for rendering jobs. This incentivizes GPU owners to share their resources, providing a decentralized pool of computing power that AI developers can draw on for tasks like training machine learning models.

2. Fetch.ai (FET)

Fetch.ai introduces autonomous economic agents, intelligent digital entities capable of performing tasks, making decisions and interacting autonomously. These agents can represent individuals, companies or machines and use artificial intelligence to optimize their operations and make autonomous decisions.

Fetch.ai manages a decentralized market where agents can directly exchange services and data. This market allows for efficient and decentralized exchanges of resources and services. The token added 16% to its price today, but lost 18% last week.

3. Akash Network (AKT)

Akash Network offers cloud computing infrastructure that developers can use to deploy and run AI models. This reduces dependency on centralized cloud providers and enables more flexible, scalable and cost-effective computing power.

Akash Network uses AKT to incentivize participants. Resource providers are rewarded with AKT tokens for renting their idle computational resources, while users pay for these services with the same tokens. This creates a decentralized economy where AI developers can access affordable computing power.

Smart contracts on Akash Network automate the process of buying and selling computational resources. These contracts ensure transparent, trustless transactions, making it easier for AI developers to acquire the resources they need without interference from intermediaries. AKT rose 13% today and fell 11% last week.

AI token price movements

Apple shares lost nearly 2% when the tech giant has unveiled its unremarkable artificial intelligence plans on June 10th. The ripple effect has trickled down to AI-related cryptocurrencies, which have underperformed compared to the broader digital asset market. They are all reversing losses.

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Best PolitiFi tokens to buy, turning $1,000 into $100,000

TokenTalk Staff

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Best PolitiFi tokens to buy, turning $1,000 into $100,000

As American election campaigns heat up, the fusion of politics and blockchain technology is opening up interesting investment opportunities, with investors seeking the best PolitiFi tokens for high returns.

Investors can benefit greatly from the volatility created by the emergence of these tokens, especially considering that 2024 will be a halving year for Bitcoin and the potential start of a bull run. With an increasing number of politically related coins available, it can be difficult to identify the best ones. Therefore, here are the four main Politifi tokens to consider as the US elections approach.

1. PolitiFi token to buy – MAGA (TRUMP)

Sorceress is an original meme coin based on Donald Trump that has seen better days. Launching in August 2023, Maga’s mission is to support U.S. veterans and protect America’s children. So far, the project has donated over 269 ETH to veterans and over 239 ETH to Child Trafficking Prevention (CTP).

Trading at $8.97, TRUMP is up 17% in the last 24 hours, but down 32% in the last 7 days. As the US election approached, TRUMP faced difficulties trying to get on the ticket centralized exchangesas they argue that money is too political.

However, TRUMP remained the second largest meme in the world CoinGecko by market cap and has over $45 million in daily trading volume. If Donald Trump wins the election, Trump-based coins, such as TRUMP, could see a price explosion.

2. ConstitutionDAO (PEOPLE)

ConstitutionDAO it is one of the few cryptographic experiments that have proven successful. The project began as a community collective to purchase the United States Constitutions through crowdfunding.

The initiative raised $42 million from contributors, but ultimately lost the auction to another bidder. Following the leak, the idea of ​​becoming a blockchain decentralized autonomous organization (DAO) was born and ConstitutionDAO was born. Contributors were given the option to exit the DAO by redeeming PEOPLE tokens for the original value of the token. Compared to the current price, this would represent a huge loss to the existing taxpayer.

At $0.087, PEOPLE’s price has dropped 25% over the past 7 days following volatile Bitcoin price action. However, the asset remains the largest political token by market capitalization. PEOPLE hit an all-time high market cap of $691 million on June 9 before falling back to its current level. There is a great support level around the $400 million and $250 million market cap levels, from which a bounce could result in further upward movement making it one of the best political tokens to buy.

3. Jeo Boden (BODEN)

Jeo Boden is a Biden-based meme token on the Solana blockchain. After reaching an extremely low market capitalization, BODEN’s price reached an all-time high of $0.95 in April before falling back to its current level.

At the time of writing, BODEN price is trading around $0.133, up 9.7% in the last 24 hours. Despite dropping 30% in 7 days, it still has a trading volume of over $9 million and a market capitalization of $91 million. The price action shows strong support between $0.1 and $0.09, from which the meme coin is expected to rebound and reach new all-time high prices.

BODEN’s popularity also soared recently after Kraken announced that the token would be available for trading on its Kraken Pro platform. Kraken is a US-based licensed and regulated exchange that could increase the value of BODEN during this election period.

4. PolitiFi Token to Buy – MAGA Hat (MAGA)

Following the meme coins narrative of hat memes, the developers created the MAGA hat, inspired by Donald Trump’s hat. The tactic worked well as the coin exploded in terms of price and market capitalization. As of this writing, MAGA has a market capitalization of $85 million with a daily trading volume of $63 million.

The meme token takes advantage of the support of Trump supporters and its controversial nature to gain media attention and move the token’s price to the moon.

As of this writing, MAGA is trading at $0.0002049, which is an increase of 11% in the last 24 hours. The price action is at a relatively major support level, tested twice in the last two months. A bounce from here could result in prices rallying above the previous high.

Having the lowest market cap on the list and higher volume than some of the others, MAGA is one of the best PolitiFi tokens to buy right now.

Conclusion

The US elections will undoubtedly bring considerable volume to the PolitiFi token niche. Donald Trump has made it clear publicly that he supports cryptocurrencies and that he will encourage the sector if he wins the election. In a broader view, policy-based tokens could be the key to bringing general awareness about cryptocurrencies to the masses.

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