Author: Zhupiter, GoPlus research

2025-03-16

This report analyzes the token issuance trends of SOLANA, BASE, and BNB three major blockchain networks from December 2024 to March 2025 and the situation of honeypot tokens, revealing the development dynamics and security risks of each platform in the token market.

As shown in the above chart, overall, SOLANA maintained the highest token issuance volume throughout the observation period, with the number of new tokens significantly exceeding the other two blockchains.

The following chart shows the new token issuance trends of the three chains:

SOLANA

  • In mid-January 2025, the token issuance volume of SOLANA reached its peak, approaching 800,000 tokens, and then showed a continuous downward trend.

  • From mid-January 2025 to March, the new token issuance volume of SOLANA dropped by about 65%, from nearly 800,000 to about 280,000.

  • This trend indicates that although SOLANA leads in token issuance volume, its market popularity may be gradually cooling.

BASE

  • The BASE platform maintained a relatively stable level of token issuance for most of the observation period, but there was a significant peak at the beginning of January 2025, reaching about 135,000 tokens, followed by a decline, and then a significant increase starting in mid-February.

  • From mid-February to early March 2025, the token issuance volume of BASE increased again, eventually reaching about 175,000 tokens.

  • This growth trend indicates that BASE is gaining more attention from developers and projects, possibly becoming an emerging token issuance platform.

BNB Chain

  • BNB Chain has the lowest token issuance volume among the three major platforms, mainly maintaining between 10,000 to 15,000 tokens.

  • BNB Chain experienced a noticeable peak in token issuance in mid-February 2025, reaching about 52,000 tokens, followed by a slight decline but still remaining at a high level.

  • Recent data shows that the token issuance volume of BNB Chain is about 33,000 tokens, an increase compared to the level in December 2024.

Honeypot Analysis

BNB Chain

  • The number of honeypot tokens on BNB Chain peaked in mid-January 2025, approaching 1,750, and then sharply declined.

  • By March 2025, the number of honeypot tokens on BNB Chain had dropped to about 60, a decrease of about 97% from the peak.

  • This may indicate that BNB Chain's main launch platform, Four.meme, has utilized the secure and unified token issuance template provided by GoPlus, leading users to prefer launching tokens on this platform and thereby deterring some fraud gangs.

BASE

  • The honeypot tokens on the BASE platform peaked in early January 2025 (about 870), and then gradually decreased.

  • However, in March 2025, a sharp increase in the number of honeypot tokens was observed, reaching about 1,000, which coincided with the increase in token issuance during the same period.

  • This significant growth indicates that as the popularity of the BASE platform increases, it has also attracted more fraudulent activities.

Correlation and Trends

  • The token issuance volume and the number of honeypot tokens of BASE both increased in March 2025, suggesting that the platform is undergoing a rapid expansion period while facing security challenges.

  • The proportion of honeypot tokens in BNB (relative to the total amount of new tokens) was high in mid-January 2025, indicating that the network may have faced serious security issues at that time.

About GoPlus

GoPlus, as the first on-chain security protection network, aims to provide every user with the easiest-to-use and comprehensive on-chain security guarantee to ensure the safety of every transaction and asset.

The security service architecture is mainly divided into the GoPlus APP (web and browser plugin products) directly facing end-users and GoPlus Intelligence indirectly serving end-users (through B-side integration or access), covering the widest Web3 user base and various transaction scenarios, dedicated to building an open, user-driven on-chain security protection network:

On one hand, any project can independently provide users with on-chain security protection by integrating with GoPlus; on the other hand, GoPlus also allows developers to fully utilize their own advantages to deploy innovative security products to the GoPlus security market, enabling users to independently choose and configure convenient, personalized security services, thereby building an open decentralized security ecosystem that collaborates developers and users.

Currently, GoPlus has become the preferred security partner for Web3 builders, with its on-chain security services widely adopted and integrated by Trust Wallet, CoinMarketCap, OKX, Bybit, DexScreener, SushiSwap, etc., with an average daily call of over 34 million times, accumulating over 4 billion calls, covering over 90% of users' on-chain transactions, and its open security application platform has served over 12 million on-chain users.