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Solana Mint Tokens: Creation Rates, Rug Pulls, and Lifespans
This report summarizes findings regarding the creation of new mint tokens on the Solana blockchain, the prevalence of rug pulls associated with these tokens, and their typical lifespans, based on research conducted in May 2025.
Monthly Mint Token Creation Rate
Based on research from late 2024, the Solana network has seen a significant surge in token creation. Sources indicate that since early 2024, Solana has consistently produced over 100,000 new tokens (SPL tokens, including fungible and non-fungible) each month. In late September 2024, Solana accounted for over 87% of all new tokens launched across tracked blockchain platforms, creating 96,010 tokens during that period. This high rate is largely attributed to the popularity of memecoins and platforms that simplify the token creation process. Historical data from April 2022 showed much lower daily creation rates, peaking at 397 new SPL tokens on one day, indicating a dramatic increase in token creation activity on Solana between 2022 and 2024.
Rug Pull Statistics on Solana
Research indicates that Solana became a major hub for cryptocurrency rug pulls in 2024. Key findings include:
High Incidence: According to a report by Hacken cited in December 2024, Solana hosted the largest number of rug pulls among blockchain platforms during that year.
Token Volume: Over 4 million tokens were launched on the Solana network in 2024.
Rug Pull Ratio: The same report estimated that more than 80%of the tokens launched on Solana in 2024 ended up as rug pulls.
Contributing Factors: The high rate of rug pulls was attributed to Solana's low transaction fees, network speed, and the availability of tools like pump.fun that simplify token creation, particularly for memecoins.
Mechanism: Scammers typically retained a large portion of the token supply, waited for investors to exchange SOL for the new token, and then quickly sold off their holdings, causing the token's value to collapse.
Financial Impact: In April 2024 alone, 27 presale scams on Solana reportedly resulted in over $122.5 million in losses.
Lifespan of Rug Pulled Tokens on Solana
Research indicates that tokens involved in rug pulls on Solana typically have very short lifespans:
Predominantly Short-Lived: An academic analysis of Solana DeFi data (2021-2024) found that approximately 75% of inactive tokens (often indicative of rug pulls) have a duration of less than one day. These are sometimes referred to as "1-day tokens".
Rapid Collapse: Other sources, particularly those analyzing tokens created via platforms like pump.fun (which facilitate easy token creation and are associated with many memecoin rug pulls), suggest even shorter lifespans. One report from April 2025 noted the average "time-to-rug" decreased from 2 hours to under 25 minutes on such platforms.
Quick Abandonment: The academic paper highlights that these tokens often remain active for only a very short period before becoming inactive, suggesting developers quickly drain liquidity and abandon the project.
Sources
Alhaidari, A., Kalal, B., Palanisamy, B., & Sural, S. (2025). SolRPDS: A Dataset for Analyzing Rug Pulls in Solana Decentralized Finance. arXiv preprint arXiv:2504.07132. (Accessed via PDF extraction)
Bitquery Blog (May 5, 2024): https://bitquery.io/blog/crypto-rug-pulls-rise-fall-deep-dive
Cryptonews.com.au (October 8, 2024): https://cryptonews.com.au/news/solana-leads-2024-token-launches-capturing-over-87-in-recent-surge-123820/
CryptoTvPlus (December 26, 2024) , citing Hacken report: https://cryptotvplus.com/2024/12/solana-had-the-biggest-rug-pulls-in-2024-hacken-report/
Medium/@ideakuuu (April 8, 2025): https://medium.com/@ideakuuu/must-read-rug-republic-inside-solanas-meme-coin-machine-on-pump-fun-582f59507007
Securities.io (May 1, 2022): https://www.securities.io/solana-monthly-analysis-april-2022/
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