Coinbase’s Ethereum layer-2 network Base has successfully overtaken Solana as the leading ecosystem for memecoin launches, driven by explosive growth on the Zora platform over recent weeks. The shift represents a significant milestone in the competitive landscape of token creation platforms.
On Wednesday alone, Zora generated 23,419 newly launched tokens, outpacing both LetsBonk and Pump.fun, which rank among Solana’s most prominent launchpads. This data comes from blockchain analytics tracked by @sealaunch_team on Dune Analytics, highlighting the dramatic surge in Base network activity.
NEW: BASE-BASED ZORA CREATED MORE TOKENS THAN SOLANA-BASED TOKEN LAUNCHPADS FOR 6 CONSECUTIVE DAYS – PER SEALAUNCH DATA pic.twitter.com/kcsUp68TmS
— DEGEN NEWS (@DegenerateNews) July 29, 2025
Out of 52,507 total tokens launched across various platforms that day, Zora commanded an impressive 44.6% market share. LetsBonk secured second place with 19,593 tokens representing 37.3% of total volume, while Pumpdotfun contributed 4,764 tokens for a 9% share. The remaining launches were distributed among smaller platforms including Moonshot with 2,407 tokens, Bags with 1,053, and Believeapp with 423.
Base Network Achieves Historic Milestone
Coinbase director Conor Grogan noted this marks the first instance since 2023 where any blockchain has exceeded Solana’s token launch volume. Zora, which operates as a creator-focused protocol on Base, maintained steady growth with approximately 6,500 new tokens launched daily throughout the previous month.
The platform experienced unprecedented activity on Monday, recording a single-day peak of 51,575 token launches. This surge meant Zora accounted for 67.7% of all token creation activity across both Base and Solana networks combined on that particular day.
Internal metrics reveal Zora attracted over 2 million monthly active users during July, with more than 77,000 new registrations occurring within the past week alone. Co-founder Jacob Home validated these figures during a recent podcast appearance, stating that “2 million users have signed into Zora in the last month, 54,000 coins were deployed yesterday, and over the weekend we did $63 million in volume.”
ZORA Token Experiences Dramatic Price Movement
The platform’s success has directly benefited the $ZORA token, which powers the Base-based protocol. The token has surged more than 83% over the past week, currently trading at $0.078 with a market capitalization reaching approximately $251 million. This represents a 63% increase from the valuation recorded on July 23.
Between July 9-30, $ZORA demonstrated remarkable growth exceeding 800% according to Coingecko data. However, momentum appears to be cooling after weeks of substantial gains, with market analysts forecasting potential bearish pressure in the near term. Technical analysis suggests a possible 30% correction could target the $0.060 price range.
Trading experts have observed that late short positions may face liquidation risks before any significant support levels break down. Despite these cautionary signals, no definitive resistance levels have been established above current trading ranges.
Industry Debate Over Creator Token Fundamentals
Zora’s explosive growth and the accompanying token rally have sparked discussions within crypto communities regarding the intrinsic value of creator coins. Jesse Pollak, who oversees development for Coinbase’s Base network, argues that creator tokens possess fundamentally different characteristics compared to anonymous launches on platforms like Pump.fun.
Pollak highlighted specific creator tokens such as $rasmr and $gainzy, emphasizing their connection to identifiable individuals and creative work. In a July 27 social media post addressing critics, he stated “It’s myopic to say that all these are the same,” defending the legitimacy of creator-backed assets.
The Base developer further explained that “the content itself is fundamentally valuable,” drawing parallels between creator token worth and artwork valuation, where value exists independent of admission fees or direct monetization.
Solana co-founder Anatoly Yakovenko challenged Pollak’s position, arguing that creator tokens lacking claims to future cash flows or tangible off-chain assets remain “speculative instruments” by objective measures. This exchange reflects broader industry tensions regarding token utility and value proposition.
Market Implications
The shift from Solana to Base as the dominant memecoin launching platform could influence broader layer-2 adoption and competition among blockchain ecosystems. This development may prompt increased institutional and retail interest in Base network projects while potentially affecting Solana’s market positioning in the short term.
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