Coinbase’s Layer 2 network, Base, has emerged as the leading blockchain for daily token creation, surpassing Solana for the first time since 2023.
This shift is primarily driven by Zora, a protocol that enables users to turn digital content into tradable tokens.
Base flips Solana
According to data compiled by Sealaunch on Dune Analytics, Base saw over 100,000 new tokens minted on July 27 and 28 alone, most of them originating from Zora.
In comparison, Solana-based platforms like Pump.fun and LetsBonk produced significantly fewer tokens during the same period.
Base creator Jesse Pollak highlighted the milestone, noting that the network now leads all others in on-chain token issuance.
Coinbase executive Conor Grogan also emphasized the shift’s significance, calling it a major development in the on-chain ecosystem.
Zora coins
Zora’s recent rise marks a notable trend in the evolution of content monetization on the blockchain.
While the platform initially gained attention before its April airdrop, its recent spike in activity reflects renewed interest in “content coins,” tokens created from individual posts or ideas.
However, blockchain analysis platform TK Research pointed out that participation on Zora is heavily skewed toward speculation.
According to the firm, roughly 93% of users are classified as traders, while only 6.1% act solely as creators. Less than 1% engage in both roles.
Considering this, critics argue that Zora’s system encourages speculation over substance.
AI researcher Sterling Crispin pointed out that these kinds of tokens are shitcoins because they are “low liquidity coins on automated market makers with exponential price curves.”
According to him:
“You can call them Creator Coins, Culture Tokens, Internet Capital Markets, Music Tokens, AI Tokens, or Memecoins, but it won’t change the toxic fundamentals. It’s a zero sum PvP game of musical chairs. Nobody leaves with more than they came with unless someone else is losing. And retail gets rinsed by snipers, bundlers, coordinated pump and dumps, FNF groups, and industrial scale autonomous trading bots.”
Pollak, however, defended the model. He argued that content and creators have long been undervalued and that tokens can correct that imbalance.
He added:
“Coins are the most powerful technology we have as an industry for enabling the free flow of value. we should let creators use them.”
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