Solana blockchain has experienced a significant influx of more than 106,000 new altcoins this week, driven by its high scalability, low transaction costs, and rapid confirmation times. These attractive features are drawing developers eager to efficiently create and manage new tokens. Notably, the 106,000 figure excludes non-fungible tokens (NFTs) built on Solana.

Data from portfolio platform StepFinance highlights this surge in tokens originating from Solana's network in recent days. While some tokens, like MW, have encountered issues such as rug pulls, many others remain available for swap transactions. Solana's fast transaction speeds and cost-effectiveness make it an ideal environment for quick token launches and trading.

In addition to the influx of new tokens, Solana's Total Value Locked (TVL) has increased by $166 million in the past day. This uptick indicates growing interest in the decentralized finance (DeFi) sector and could potentially drive demand for Solana's services. Despite rumors sparked by influencer Crypto Bitlord about an investigation into Solana, critics swiftly refute these claims, asserting the blockchain's robustness and dismissing speculation.