As the crypto market consolidates, Solana is showing signs of strength. Hovering around $150, the blockchain is preparing for a breakout as the crypto cycle enters the second half of this year, where analysts expect a peak of this bull run.
With investor sentiment improving and trading volumes picking up, Solana is poised to retest its previous all-time highs and potentially surpass them.
This trend is especially relevant for Solaxy (SOLX), a new project building the first Layer-2 scaling solution on Solana. With less than 8 days remaining in its presale and over $45 million raised, Solaxy shows massive potential to explode once it lists on exchanges.
If Solana continues to rally, demand for scaling solutions like Solaxy is likely to surge, making SOLX one of the most exciting tokens to watch this summer.
Alleviating Network Congestion Issues on Solana
While Solana has become known for its speed and low fees, it still experiences occasional congestion, inconsistent performance, and even failed transactions under heavy loads.
Solaxy aims to solve these issues while keeping the speed and low cost of Solana. The idea behind Solaxy is to offload transaction execution to its Layer-2 and then bundle multiple transactions into one before sending them for settlement on the Solana mainnet.
The project is also designed to offer full compatibility with Solana’s development toolchain, so existing Solana dApps can migrate or expand to Solaxy without rewriting their codebases. The Layer-2 features a modular design, giving developers more control over how to optimize their apps.
On June 2, the Solaxy team launched its public testnet, inviting users and developers to explore the new infrastructure in real-time. Users can connect with Backpack Wallet using the following RPC: http://devnet.rpc.solaxy.io.
Once connected, users can bridge native SOL from Solana Devnet to Solaxy Testnet, deploy contracts using familiar Solana tools, and track activity via the block explorer.
In a surprise announcement, the Solaxy team confirmed that they are working on a native Solaxy decentralized exchange and a token launchpad called Igniter. This will enable newly launched tokens to be transferred directly to exchanges without delay.
Solaxy’s team encourages developers and the community to experiment freely, build, test, and push the limits.
SOLX Token Boasts Multi-Chain Features
The SOLX token powers the Solaxy ecosystem. Unlike many other meme coins or Layer-2 blockchains, SOLX is multi-chain, meaning it operates on both Solana and Ethereum.
This multi-chain functionality is designed to connect two of the largest crypto ecosystems, allowing Ethereum’s vast liquidity to flow into Solana and take advantage of its low costs and high transaction speeds.
While the presale lasts, investors can stake their SOLX to earn a dynamic yield of 90%.
How to Join the Solaxy Presale Before it Ends
Solana has already proven its value. However, for investors seeking exponential upside, Solaxy may offer more potential.
Solana has a market cap of $80 billion, while Solaxy has a market cap of $240 million. If Solana does 10x, that would put it at an $800 billion market cap. For comparison, Ethereum currently has a market cap of around $300 billion, making such a move from Solana unrealistic for now.
On the other hand, Solaxy to 10x would have a market cap of $2.4 billion. This is half the market cap of a meme coin like PEPE and is completely realistic, depending on how things go with the token launch.
Moreover, staking Solaxy yields a dynamic rate of 90%, while staking Solana can yield a maximum of 10%.
With over $45 million raised and just 8 days remaining in the presale, investors who want to participate have a limited time to join.
Investing in SOLX can be done via the official Solaxy presale website, which supports purchases in SOL or ETH, as well as BNB, USDT, or even fiat currencies. Another alternative is using the Best Wallet app, available on both iOS and Android devices.
