CoinGecko co-founder Bobby Ong said the crypto market saw a surge in new token creation in January, minting 600,000 new tokens, a 12-fold increase from the 50,000 tokens minted each month from 2022 to 2023. . The acceleration in token creation began in the fourth quarter of 2024; the monthly minting number reached 400,000 before jumping to record levels in January. Blockchain networks and DEXs are also growing rapidly. Data shows that about 5 to 10 new chains are online every month, and the number of new chains peaked in May 2024. Additionally, 89 new DEXs were tracked in March 2024 alone. Market analysts warn that the surge could lead to a dispersed liquidity. In response to concerns about the impact of the market, Ong acknowledged the potential drawback: “There are too many tokens, and each one distracts traders from limited attention and liquidity. That’s why we haven’t seen the previous few cycles The sharp rise."