After the cryptocurrency sector started bearish throughout Q1 2025, the second quarter has proven highly rewarding, with the overall market cap climbing from $2.74 trillion to $3.38 trillion since early April.
Among the altcoins leading this resurgence is Solana (SOL), which managed to spike 21% in the past week alone. As Solana solidifies itself as the top blockchain in terms of DEX trading volume, the growing activity also highlights some of its technical limitations, namely, congestion and scalability challenges.
Solaxy (SOLX) is a new project aiming to solve those issues by releasing its Layer-2 network for Solana, with its presale having now raised over $35 million.
Solana’s Price Recovery and DEX Dominance
Solana (SOL) is a high-throughput blockchain platform built for fast, low-cost crypto transactions and decentralized applications. With the ability to theoretically handle up to 65,000 transactions per second, Solana has long been viewed as a scalable Ethereum alternative.
After falling from $190 to $110 during Q1, a 42% drop, SOL has bounced back sharply. Now trading at $174, the token is up over 33.5% in the past 30 days, pushing its market cap above $90 billion.
This rebound has prompted analysts like PML Crypto to project further gains. Having recently predicted SOL’s breakout above $157, the analyst now identifies $203 as the next target, with the potential to revisit the token’s all-time high of $293.
At the same time, Solana’s network usage is also surging. Over the past week, it led all chains in DEX volume, recording over $22 billion in trading activity, a nine-week high. The DeFi sector on Solana now holds roughly $9.44 billion in total value locked, matching levels last seen in February.
While these developments mark a major win in terms of adoption, they bring rising pressure on Solana’s infrastructure. The blockchain may increasingly struggle to scale under peak demand. As a result, some developers are turning to alternative solutions designed to alleviate the strain, one of which we explore below.
Solaxy: Developing a Scalable Solution for Solana
Solana’s growth comes with growing pains. As more users flock to the network, congestion risks and scalability limitations are beginning to surface. Solaxy (SOLX) seeks to tackle this issue head-on with an upcoming Layer-2 solution built to complement Solana’s architecture. Backing its strong vision, the project has already raised over $35 million in its presale, making it one of the most successful meme coin launches in recent times.
This project proposes a system where transactions are handled off-chain, then bundled and settled on Solana’s Layer-1 network. By shifting the burden off the mainnet, the framework promises faster, cheaper, and more reliable execution, particularly during times of high demand.
What makes the proposal especially appealing is its developer-centric approach. Projects won’t have to conform to rigid infrastructure; instead, they’ll be able to customize performance environments suited for DeFi protocols, NFT platforms, and Web3 games.
Adding credibility, the project recently launched its TestNet Block Explorer, allowing users to view and monitor testnet activity in real time.
Analyst Predicts Huge Gains for Solaxy
Crypto analyst and YouTuber ClayBro, who boasts over 136K subscribers, emphasized that Solaxy’s close alignment with Solana positions it as a token with strong potential in 2025. Should Solaxy deliver on its L2 promises, it may witness major user onboarding and strong price movement as a result.
According to ClayBro, the token could potentially surge 20x in value within the year, contingent, of course, on a successful rollout and continued crypto market momentum. Another aspect ClayBro highlighted is the staking ecosystem. With a live APY (annual percentage yield) of 137%, Solaxy’s staking mechanism allows token holders to earn passive income while supporting the project.
So far, 10 billion SOLX tokens have already been staked, reflecting trust and long-term belief from early backers. This staking model not only incentivizes loyalty but also creates a built-in support structure that could stabilize token performance.
Given its strong presale performance, along with staking incentives and a forward-looking roadmap, Solaxy is shaping up to be one of the more compelling Solana-based plays this summer.
