Solana set a new record for token issuance after 263,000 Solana Program Library, or SPL, tokens were created in a single day on Wednesday, according to on-chain data platform Solscan. The total was more than five times the 40,000 to 50,000 daily average seen during the meme-coin frenzy at the end of 2024.
Pump.fun was the main driver of that activity. Data from a Blockworks dashboard showed that 40,360 tokens were created through launchpads on the day, and 34,184 of them came from Pump.fun, giving the platform a market share of more than 80%.
A new high for daily token issuance on Solana
The report framed the latest number against the previous peak at the end of 2024, when 40,000 to 50,000 new tokens a day was already considered a record pace for Solana’s meme-coin market. At 263,000 in one day, the latest print pushes that benchmark far higher.
That works out to roughly three new tokens minted every second on Solana. The article said most of those tokens do not survive for more than 24 hours, often lacking liquidity, community support, or any practical use, with the main change being how easy the issuance process has become.
Launchpads have reduced the barrier to issuing a token
The core function of a launchpad is straightforward: it lets users create, list, and trade a meme coin without writing code. The process is automated, and the platform can also provide immediate liquidity and visibility for a newly issued token.
For creators, the barrier is close to zero. Upload an image, choose a name, press a button, and an SPL token is live. For speculators, that kind of rapid-fire issuance creates a huge pool of candidates to scan each day in search of the next breakout token.
Pump.fun revenue remains near the top of the ecosystem
The surge in issuance translated into revenue. According to DefiLlama, Pump.fun generated $1.8 million in revenue over the past 24 hours and remained the highest-earning protocol in the Solana ecosystem.
That position has still faced competition. The report said social trading app Fomo briefly overtook Pump.fun in daily revenue last Friday. Fomo combines crypto trading with a social media-style post feed and is trying to win market share with a hybrid social-and-trading model.
On a broader view, Pump.fun contributed one-third of Solana’s chain-wide revenue in the first quarter of 2026. The figures cited in the article put Solana’s total revenue at $342 million for the quarter, of which $124 million came from Pump.fun. The report said this happened even as meme-coin activity had cooled, indicating the platform had become a more consistent source of revenue rather than relying only on short-lived speculation.
What 263,000 new tokens in one day means for the ecosystem
The article said the flood of new tokens raises several problems across the ecosystem.
- Filtering costs rise because investors have to spend more time sorting low-quality tokens or rely on platform-based screening tools.
- Liquidity gets diluted as capital spreads across tens of thousands of largely meaningless tokens, making stronger projects harder to spot.
- Scam risk increases as the number of malicious tokens, including rug pulls and honeypots, also climbs.
The report added that Pump.fun’s bonding curve model addresses early liquidity to some extent. Once a token reaches a certain market value, it is automatically migrated to Raydium to provide liquidity. Even so, the article said the mechanism does not solve information asymmetry or fraud risk.