Trump Tariffs Hit ETH L2s, Too? Solana First L2 Solaxy Hits $29M

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It seems Donald Trump’s tariffs are not only disrupting U.S. import prices but also, symbolically, the Ethereum blockchain.

To be clear, it’s not Trump himself proposing anything on-chain. But within the Ethereum community, there’s growing concern over the network’s revenue model. Recent upgrades like Dencun have significantly reduced transaction fees, which is great for users – but now, some in the community are discussing ways to bring fees back up to sustain Ethereum’s financial structure.

Meanwhile, over in Solana’s sphere, the opposite is happening. Solana already boasts significantly lower fees compared to Ethereum – and now, with the development of its first-ever Layer-2 chain, it’s slashing costs even further. This is thanks to Solaxy ($SOLX), a new L2 that offloads computation from the Solana mainnet, easing congestion and reducing on-chain demand.

Solaxy is still in development, but it’s already raised $29 million in its presale – an early sign of strong investor confidence in Solana-native scaling.

For those looking to participate, the $SOLX token will be available at $0.001684 for the next 39 hours before the presale enters its next stage with a higher price.

Is Ethereum’s Financial Sustainability At Risk?

The Dencun upgrade has significantly lowered transaction fees on Ethereum since its implementation last month. Average fees have dropped from around $1.75 one year ago to just $0.38 per transaction, marking a sharp 78% reduction.

https://ycharts.com/indicators/ethereum_average_gas_price?ref=hackernoon.com

While this is a clear win for users, it has sparked concern within the community over the Ethereum mainnet’s declining revenue – raising questions about the network’s long-term financial sustainability.

Ye Zhang, co-founder of the Layer-2 platform Scroll, has been a vocal critic of proposals to impose fees on Layer-2 networks. He warns that doing so could discourage developer activity and user adoption, ultimately threatening Ethereum’s expansion and relevance within the broader blockchain ecosystem.

1/6 Tariffing L2s is one of the most toxic ideas for Ethereum’s future. It trades long-term scalability and ecosystem growth for short-term revenue — a strategy fit for centralized corps, not credibly neutral platforms.
— Ye Zhang 📜 (@yezhang1998) April 2, 2025

This concern becomes more pressing as Solana continues gaining ground – especially with Solaxy, its first Layer-2 solution, approaching launch after hitting a major presale milestone.

Is A Layer-2 Like Solaxy Needed By Solana?

Solana has long been seen by some market observers as Ethereum’s fiercest rival – after all, it’s often dubbed the “Ethereum killer.”

That reputation comes from its high throughput (TPS) and near-zero gas fees, which have led many to believe it could eventually outpace Ethereum – not just in price, but in developer traction and real-world usage.

But despite those advantages, Ethereum still holds its ground – and one major reason is Solana’s architectural trade-offs.

Solana is a monolithic chain, meaning it handles execution, consensus, and data availability all on Layer-1. Unlike Ethereum, which leans on Layer-2s for scaling, Solana does it all natively. That makes it faster and cheaper – but it also means when the chain gets overloaded, there’s nowhere else for that traffic to go.

The result? Congestion, failed transactions, validator hiccups, and user frustration – issues that have followed Solana since its early days.

Some of Solana's real issues are vocally expressed by Matthew Sigel, VanEck, who are actively pursuing a Solana ETF. @vaneck_us
– "Issues with spam & chain congestion".
– "March, April, 70% transaction failure rates, that's too high".
– "Block explorers for Solana are pretty… pic.twitter.com/NVK1b71adQ
— Dave (@ItsDave_ADA) August 22, 2024

Still, Anatoly Yakovenko, Solana’s co-founder, has remained firm in his belief that Layer-2s aren’t necessary. In his view, a properly optimized Layer-1 can handle everything – no rollups, no fragmentation, no offloading required.

But reality may be catching up to that philosophy.

Whether or not Solana should use a Layer-2 is up for debate – but what’s clear is that it stands to benefit from one. And that’s where Solaxy comes in: to relieve mainnet pressure, enhance scalability, and drive the ecosystem forward – regardless of what the core team envisioned.

Could $SOLX Soar 459%?

With $29 million already raised, the end of the Solaxy presale is now within reach. And with that, so is the opportunity to grab $SOLX at what may be its lowest price point before it hits exchanges.

Once it debuts, the token has serious potential to take off – not just because of hype, but because it solves a real problem. Solaxy is positioned to grow alongside $SOL as the project that could help close the gap between Solana and Ethereum.

More importantly, as the first project on Solana to directly tackle its long-standing congestion issues, Solaxy could spark the birth of an entirely new Layer-2 ecosystem on Solana – just as rollups did for Ethereum.

Consider this: Ethereum’s top Layer-2s are valued in the billions. If $SOLX were to reach the same valuation as Arbitrum ($ARB) at $1.3 billion, that would put its token price at $0.00941 – up from its current $0.001684. That’s a potential gain of approximately 459%, based on the total supply.

https://www.coingecko.com/en/categories/layer-2

And that could just be the beginning.

The key takeaway? Secure $SOLX while it’s still available at this price. As the project garners more attention and hits public markets, the upside increases – especially for a token helping Solana fix one of its most persistent weaknesses in the race against Ethereum.

How To Buy $SOLX

Head to the Solaxy website and connect your wallet to participate. For a smoother experience, Best Wallet is an excellent choice, allowing contributors to view their tokens early. With multichain support for both Ethereum and Solana, Best Wallet makes buying $SOLX simple – right from the app.

Stay engaged with the Solaxy community on X and Telegram for the latest updates.

For more details, visit the Solaxy website.

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