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The Solana ecosystem faces turbulence as the market drops another 1% today. Trading volume has increased, but fear remains high in the Fear and Greed Index. February has been a tough month for crypto, starting with the trade war situation and leading to a steady decline across the industry.
Solana (SOL) has taken a massive hit, plunging nearly 177% and falling below $200 after previously aiming for $300. This sharp decline has sparked questions—Is Solana finished? Are Solana meme coins done?
Over the past week, Solana has lost 16%, but on a monthly scale, it shows signs of recovery, being only 3% down in the last 30 days.
After recently approaching $300, Solana continues to prove its strength, creating a potential buying opportunity for those looking to enter at lower prices. As a major player in crypto, it remains one of the most traded assets.
The meme coin sector on Solana has also struggled, with top projects facing heavy losses. TRUMP has dropped 30%, BONK has fallen 23%, MELANIA has plunged 42%, WIF has declined 31%, and PENGU has lost 30%.
Some newer coins have seen brief gains, but overall sentiment remains bearish, with many projects down between 20% and 50%. Despite the downturn, those who recognize long-term potential may still find opportunities in the ecosystem.
Amid the current market uncertainty, Solaxy (SOLX) has emerged as a project with strong potential.
Solaxy: Solana’s First Layer 2 for Faster Transactions
Solaxy is Solana’s first Layer-2, designed to speed up transactions by moving them off the main network, bundling them together, and settling them back on Solana’s blockchain. It works like express lanes on a crowded highway, helping reduce congestion before transactions re-enter the main network.
This approach has already proven effective on Ethereum with projects like Arbitrum and Optimism, but Solaxy isn’t just following their lead. The team is also developing a bridge between Solana and Ethereum, giving users access to the strengths of both ecosystems.
Source – Solaxy (SOLX) Twitter
With 30% of $SOLX tokens allocated for development, the team has the funding to keep building and delivering on its roadmap.
Early supporters can also stake $SOLX and earn an impressive 217% APY, with over 5.3 billion $SOLX tokens already locked up. The high rewards make it an appealing choice for those looking to earn passive income.
Even with the recent market downturn, Solana remains a strong ecosystem. If more users adopt Solaxy’s Layer-2 solution, it could ease congestion and improve efficiency, making Solana faster and more scalable.
As demand for better blockchain performance continues to grow, Solaxy has the potential to become a key player in Solana’s future. If you want to see what the future holds for Solaxy, you can check our $SOLX price prediction guide.
Solaxy Presale Approaching $19M as Investors Flock In
Solaxy’s presale has attracted over $18.7 million in just two months, showing strong support for its plan to improve Solana’s scalability. Right now, $SOLX tokens cost $0.001628, but the price will increase at each funding milestone. Early buyers get the lowest price, which could pay off if Solaxy gains momentum after launch.
Buying $SOLX is simple through the official Solaxy website or the ‘Upcoming Tokens’ section in the Best Wallet app, a fast-growing non-custodial Web3 wallet. For more information, investors can check out our guide on purchasing Solaxy tokens here.
Once the presale ends, investors can claim their tokens as $SOLX gets listed on both decentralized and centralized exchanges. For updates, follow Solaxy on X and join their Telegram community. To take part in the $SOLX token presale visit solaxy.io.
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