The post After Solana Buckled Under Trump Mania, Solaxy’s Layer-2 Solution is the Ultimate Fix: ICO Hits $13.5M appeared on BitcoinEthereumNews.com.

Solaxy ($SOLX), a new Layer-2 solution for Solana, has surpassed expectations by raising an impressive $13.6 million in its ICO. Interest in the project skyrocketed after the launch of Official Trump ($TRUMP) and Official Melania ($MELANIA) meme coins, which brought renewed attention to the network’s scalability challenges. On Monday, the Solana blockchain experienced severe congestion due to the soaring popularity of $TRUMP and $MELANIA meme coins. The heightened interest in these tokens caused unprecedented transaction volumes and technical issues for Jito Labs, a key network infrastructure provider. The @jito_labs Block Engine API is experiencing severe degradation due to unprecedented load levels. Our engineering team has been actively mitigating the issue for several hours. While the Solana network continues to operate and process blocks, transaction submission through… — buffalu (@buffalu__) January 20, 2025 While the surge has sparked excitement, it has also exposed Solana’s persistent network congestion issues. The congestion has turned investor attention to Solaxy, Solana’s first Layer-2 solution, which promises to address these scalability challenges. Initially launched on Ethereum and bridging two of the largest DeFi ecosystems, Solaxy is now open to Solana users, offering cross-chain accessibility and a potential fix to Solana’s growing pains. $TRUMP and $MELANIA Fuel Network Strain, Driving Demand for Solaxy The Official Trump ($TRUMP) token took the crypto world by surprise, launching on Solana just ahead of Donald Trump’s inauguration. Initially met with skepticism, its legitimacy was confirmed through posts on Truth Social and Trump’s official X account. In less than 48 hours, $TRUMP’s trading volume propelled its market cap to $14 billion, placing it among the top 20 cryptocurrencies. Shortly after, Official Melania ($MELANIA) was introduced, further amplifying Solana’s network activity. However, the overwhelming demand highlighted Solana’s inability to handle the surge, leading many to seek Solaxy as a viable solution. Solaxy is…

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Filed under: News - @ January 24, 2025 5:25 pm