According to Bobby Ong, co-founder and COO of CoinGecko, the crypto market is experiencing a surge in token creation. In January 2025 alone, a record high of 600,000 tokens was created.
Ong predicts that if this trend continues, the crypto industry could surpass 1 billion tokens by 2030.
Crypto Token Creation Hits Record Levels
In a recent analysis shared on X (formerly Twitter), Ong detailed that the average number of tokens minted each month in 2022-2023 was around 50,000.
However, by Q4 2024, this number had surged to 400,000 monthly. This culminated in the January 2025 milestone.
“That’s 12x growth in just over a year,” the post read.
Ong attributed this explosive growth to several key factors. The proliferation of token incubators, such as Pump.fun and other launchpads, has made token creation easier than ever.
Additionally, advancements in blockchain infrastructure significantly reduce the friction in token deployment. This enables developers to launch new tokens with minimal effort.
The rise of meme coins has further fueled this trend. Meme culture enables instant tokenization, instantly turning viral internet trends into tradable digital assets. Beyond that, the broader trend of tokenization has also expanded.
“At this rate, we’re heading towards 1 BILLION tokens in the next 5 years. Let that sink in,” he predicted.
The growth isn’t limited to tokens alone. According to Ong, blockchains and decentralized exchanges (DEXes) are also expanding. Every month, 5 to 10 new blockchains launch, with most being Ethereum Virtual Machine (EVM)-compatible. This makes them easier to integrate into the existing crypto ecosystem.
In May 2024, a record-breaking 17 new blockchains were introduced, as per Ong. This highlighted the increasing demand for specialized networks. Additionally, March 2024 saw the launch of 89 new DEXes, further decentralizing liquidity and providing more avenues for token trading.
Is Token Creation Delaying Altcoin Season?
Nonetheless, the rapid increase in tokens has also raised concerns about liquidity fragmentation.
“Too many tokens, each spreading the limited attention and liquidity of traders even thinner. That’s why we don’t see the great alt pumps of previous cycles,” Ong stated.
Previously, crypto analyst Murad argued that the crypto industry has undergone a permanent transformation driven by an unprecedented surge in new token creation. He stated that this shift signals the end of the traditional altcoin season.
“There will not be an Alt Season. Not in 2025,” he posted.
Rather than a broad market rally, Murad predicted two prevailing trends: extreme short-term speculation and the emergence of a select few meme coins that could soar to valuations exceeding $100 billion.
Meanwhile, some analysts also point to Pump.fun as a factor behind the delayed altcoin season. They argue that it diverts liquidity into speculative meme coins, preventing capital from reaching traditional altcoins. Dune reports that the platform has launched over 7.8 million tokens.
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