New Cryptocurrency Solaxy Skyrockets to $17.3M in Presale for First Solana Layer-2
The post New Cryptocurrency Solaxy Skyrockets to $17.3M in Presale for First Solana Layer-2 appeared on BitcoinEthereumNews.com.
Solaxy ($SOLX), Solana’s first-ever Layer-2 scaling solution, has reached an impressive milestone: its presale brought in over $17.3 million. This surge speaks volumes about the growing excitement surrounding Solaxy and its potential to tackle Solana’s long-standing scalability challenges. Interestingly, this presale boom comes as Solana’s meme coin launchpad, Pump.fun, recorded a jaw-dropping $3.3 billion in weekly trading volume. The frenzy was fueled by a wave of Trump-themed meme coins launched after the U.S. presidential election, which led to serious network congestion across Solana. https://x.com/SOLAXYTOKEN/status/1885734654910882185 Why Solaxy Could Be a Game-Changer for Solana With Solana struggling to keep up during peak network activity, investors are betting big on Solaxy. So, what’s the hype about? Solaxy processes transactions off the main Layer-1 chain, easing congestion, cutting down transaction fees, and speeding up processing times. In short, it’s designed to make Solana more efficient, especially when traffic spikes. Currently, $SOLX is priced at $0.001622 per token. But heads up—the price is set to rise in less than a day. Over 4.97 billion $SOLX tokens are already staked, offering impressive annual staking rewards of 231%. That’s a solid passive income opportunity if you’re looking to maximize returns. Tackling Solana’s Growing Pains The recent meme coin mania exposed Solana’s Achilles’ heel: network congestion. With over 6,800 Trump-related tokens flooding the ecosystem (many with sketchy intentions), transaction fees skyrocketed, generating $25 million for validators. But for users, it was a headache—slow transactions, higher costs, and plenty of frustration. That’s where Solaxy steps in. By offloading transactions from Solana’s main chain, it reduces the strain, making the network faster and more reliable. This isn’t just a patch; it’s a long-term fix that could help Solana compete more effectively with giants like Ethereum in the DeFi space. $SOLX: More Than Just Another Token Let’s talk potential. Solaxy isn’t…
Filed under: News - @ February 3, 2025 8:21 am