Coinbase’s Ethereum Layer-2 Network Base Surpasses Solana in Memecoin Launches
Coinbase’s Ethereum layer-2 network, Base, has become the leading platform for launching memecoins, largely due to a surge in token creations on the Zora platform in recent weeks.
On Wednesday, Zora was responsible for 23,419 newly launched tokens, overtaking both LetsBonk and Pump.fun, Solana’s most active launchpads, according to blockchain data from @sealaunch_team on Dune Analytics.
> The majority of new coins are now created on @base pic.twitter.com/RjGhbX9MwV
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> — jesse.base.eth (@jessepollak) July 29, 2025
In total, there were 52,507 tokens launched across various platforms, with Zora accounting for 44.6% of this activity. LetsBonk contributed 19,593 tokens (37.3%), while Pump.fun saw 4,764 tokens (9%). Other platforms like Moonshot (2,407), Bags (1,053), and Believeapp (423) made up the remaining volume.
Zora Dominates Token Launch Activity
According to Coinbase director Conor Grogan, this marks the first time since 2023 that another chain has surpassed Solana in token launches. Last month, Zora launched around 6,500 new tokens daily, peaking at a record 51,575 in a single day recently. On that day, Zora contributed to 67.7% of all token creation volume on Base and Solana. Internal data also reveals Zora had over 2 million monthly active users in July, with 77,000 new users signing up within the last week alone.
Co-founder Jacob Home verified these numbers in a podcast, highlighting 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 Price Surge
As token launches surged, the $ZORA token on Base saw an 83% increase in the past week, currently trading at $0.078 with a market cap of around $251 million. The token’s value has also increased by over 800% from July 9 to 30. However, analysts predict some potential short-term bearish momentum, forecasting a correction to approximately $0.060.
Market watchers noted the possibility of late short positions being vulnerable to liquidations unless significant support levels break. So far, no clear resistance levels have been identified above the current prices.
Value of Creator Coins Under Debate
Zora’s recent surge in activity and the rising price of its native token have ignited a discussion on the intrinsic value of creator coins. Jesse Pollak, leading development on Coinbase’s Base, distinguishes creator tokens from anonymously launched coins, arguing that identifiable creators tie these tokens to their creative output.
Pollak pointed to specific creator tokens, asserting that these coins have unique value compared to generic meme coins. He emphasized, “It’s myopic to say that all these are the same.”
> That’s not the only way tokens can be fundamentally differentiated. For example, tying the coin to a creator’s identity/art instead of just a meme creates an incentive to develop a positive reputation instead of instadump and farm.
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> — ruz.eth ♢ he/they (@RuzhyoX) July 27, 2025
He compared the worth of a creator token to that of a painting, suggesting that its value remains intact regardless of admission fees. Conversely, Solana co-founder Anatoly Yakovenko criticized Pollak’s view, claiming that without offering holders claims to future cash flows or tangible assets, creator tokens are merely “speculative instruments.”
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