Coinbase’s Base Chain Overtakes Solana in Daily Token Creation as Zora Gains Dominance

In a significant shift within the blockchain ecosystem, Coinbase's Layer 2 solution, Base, has surpassed solana in daily token creation, driven by the dominance of its token launchpad Zora. On July 28, 2025, Zora generated 51,575 tokens—more than double the output of Solana's LetsBonk (22,554 tokens) and far exceeding Pump.fun's 4,173 tokens. This milestone marks the first time since early 2023 that any chain has achieved such a commanding lead in token creation. The development underscores Base's growing influence and the increasing adoption of its infrastructure for decentralized applications. Coinbase director Conor Grogan highlighted this achievement as a testament to Base's scalability and user-friendly design, positioning it as a formidable competitor in the Layer 2 space. With Zora accounting for 67.7% of all token creations across both chains, the trend signals a potential reallocation of developer and user activity toward Base, further solidifying Coinbase's strategic foothold in the crypto market.

Base Surpasses Solana in Daily Token Creation as Zora Gains Dominance

Base's token launchpad Zora has overtaken Solana's Pump.fun and LetsBonk in daily token creation, marking a significant shift in the blockchain landscape. On Monday, Zora generated 51,575 tokens—more than double LetsBonk's 22,554 and dwarfing Pump.fun's 4,173. This represents 67.7% of all token creations across both chains.

Coinbase director Conor Grogan noted this is the first time since early 2023 that any chain has surpassed Solana in token launches. Zora's unique model, which automatically converts social media posts into tokens, contrasts with Pump.fun's declining market share. The latter has been steadily losing ground to competitors throughout 2025.

Coinbase USDC Profits Surge with $300M Revenue Boost

Coinbase's first-quarter 2025 earnings reveal a $300 million revenue surge tied to its USDC stablecoin operations, according to a JPMorgan report. The exchange's $13 billion USDC balance has become a profit engine, generating yields through distribution channels and OTC services.

USDC—the dollar-pegged stablecoin co-managed by Circle—now contributes significantly to Coinbase's bottom line, with $125 million in revenue carrying margins of 20-25%. This stable income stream provides a competitive edge in an increasingly regulated crypto market.

Analysts highlight Coinbase's strategic positioning as a key beneficiary of institutional stablecoin adoption. The report underscores how traditional finance frameworks are being reshaped by crypto-native revenue models.