The post Solana Price Jumps 9% as New L2 Project Solaxy Banks $14M in Presale appeared on BitcoinEthereumNews.com.

Solana (SOL) is showing no signs of slowing down in 2025. Its native token, SOL, is up 9% in the past 24 hours – erasing most of the losses from yesterday. Alongside SOL’s surge, a new Layer-2 solution called Solaxy (SOLX) has just blown past the $14 million mark in its presale. Solana Price Rebounds as Spot Trading Volumes Surge Solana is back on track after a brief dip. After testing a minor support level yesterday, SOL has rebounded, climbing to $267 at the time of writing. That puts SOL back where it was on Wednesday, and it’s now leading all the major altcoins in terms of gains. But what’s really interesting are the factors behind this rebound. Looking at spot trading volumes, it’s clear that interest in SOL is surging again. Spot volumes soared past $10 billion in the past 24 hours, even passing XRP, marking a 10% increase from the previous day. On top of that, open interest has climbed to $4.1 billion, which suggests that traders are betting on SOL going even higher. The token’s technicals look good, too. On the 4-hour chart, SOL rejected the 50-period EMA, and since then, it has followed an upward trendline that formed earlier this week. This solid support and the uptick in trading volume hint that the bulls are back in control for Solana. Beyond the Price – Why Solana’s Fundamentals Are Stronger Than Ever Several factors are lining up that could send SOL even higher in the coming months. The big one everyone’s watching is today’s Solana ETF decision. This potential approval comes as big money is pouring into the ecosystem, with over $3.5 billion in stablecoins flowing in the past ten days. Solana’s fundamentals are also getting stronger. Over 7,600 new developers joined the network last year, and…

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Filed under: News - @ January 24, 2025 9:25 pm