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Solaxy ($SOLX) hits $15.3 million in its ICO, giving it more firepower to help it enhance the Solana blockchain’s efficiency.
As the first Layer-2 solution on Solana, Solaxy aims to enhance the main chain’s performance. It draws comparisons to the Chinese AI company DeepSeek, which has recently been making headlines for its AI models, which rival those of industry giants like OpenAI – at a much more cost-effective rate.
Solaxy is set to tackle Solana’s ongoing challenges – network congestion, failed transactions, and scalability issues – that users frequently encounter, especially during high-traffic periods.
Despite the recent tumble in $SOL’s price, Solaxy’s presale has shown unwavering momentum, with investors viewing $SOLX as a promising, long-term bet on the future of an improved Solana network.
Currently, $SOLX is priced at $0.001616 per token, but that price will rise in less than 19 hours as it begins a new funding stage.
Is Solaxy The DeepSeek Of Crypto?
Monday saw a sea of red across the cryptocurrency market, as most digital assets lost value over the past 24 hours.
The total market capitalization now stands at $3.38 trillion, with Bitcoin ($BTC) briefly dipping below $100,000 early in the day before rebounding slightly to $100,416 at the time of writing.
Among trending tokens tracked by CoinMarketCap, Ripple ($XRP) and Ethereum ($ETH) were both down by 9.76% and 6.56%, respectively. However, it was Solana ($SOL) that bore the brunt of Monday’s market plunge, enduring a double-digit loss of 10.2%.
A key factor driving the downturn is heightened fears surrounding the technology sector, fears that have begun to spill over into the crypto space. These concerns were ignited by DeepSeek, which unveiled its new AI model, DeepSeek-R1, on January 20.
Goodbye ChatGPT
— Poonam Soni (@CodeByPoonam) January 25, 2025
It’s only been 5 days since Deepseek R1 dropped, and the World is already blown away by its potential.
13 examples that will blow your mind (Don't miss the 5th one): pic.twitter.com/U5yElFgXaM
Reports suggest the model can nearly match American competitors like OpenAI, even with fewer and less advanced chips – and in some instances, bypassing steps considered essential by U.S. developers.
DeepSeek’s cost-efficiency is also sparking intrigue. The company reportedly spent around $6 million on training one of its latest models, a stark contrast to the $100 million to $1 billion range typically associated with developing similar models.
The broader tech market has reacted, with stocks tumbling on Monday – NASDAQ alone sank by 800 points – fueled by fears of this new disruptor, a potential “ChatGPT killer.”
Nasdaq down 800 points too pic.twitter.com/hrxx5pVIjZ
— Charlie G. (@Credzilla) January 27, 2025
Solana has long been hailed as an “Ethereum killer” in the crypto world thanks to its superior efficiency, higher throughput, and significantly lower costs. Yet, the network has faltered under heavy traffic, a recurring issue that raises doubts about its scalability.
Enter Solaxy, Solana’s first Layer-2, which aims to enhance Solana’s performance and solve its scalability issues.
Solaxy Enhances Solana’s Status As An ‘Ethereum Killer’
Solana’s scalability issues came to the forefront last week when President Donald Trump launched meme coins for himself and his wife on the blockchain, driving their combined market cap to over $10 billion.
The ensuing frenzy pushed Solana’s $SOL token to a new all-time high but also revealed a key vulnerability: network congestion.
The surge in activity slowed transaction speeds and led to an uptick in failed trades, highlighting Solana’s challenge in competing with Ethereum.
This congestion and the risk of further slowdowns complicate Solana’s aspirations to rival Ethereum, especially in the high-stakes decentralized finance (DeFi) space, where speed and reliability are crucial.
To address these challenges, Solaxy – Solana’s first Layer-2 solution – promises to improve network reliability.
By building on Solana’s existing infrastructure, Solaxy aims to mitigate the risks of congestion and failed trades, offering a more robust platform for decentralized applications (dApps).
Much like DeepSeek disrupts the AI space with a more cost-effective solution than OpenAI, Solaxy, if successful, could unlock Solana’s true disruptive power and really pose a serious threat to Ethereum.
Best Wallet Adds Solaxy To Its Select “Upcoming Tokens” Section
The media and crypto influencers have been raving about Solaxy’s potential, which is why its token is projected to have a 10x to 100x growth potential once it hits exchanges.
For instance, trusted crypto news outlet CryptoNews predicts a 10x potential for the native token $SOLX, while the digital magazine Analytics Insights foresees a 100x return for $SOLX.
Yet, an even bigger vote of confidence for investors is the fact that Solaxy is prominently featured in Best Wallet’s “Upcoming Tokens” section.
🚨 Solaxy is now live in Upcoming Tokens! 🚨@SOLAXYTOKEN gives holders an opportunity to join the first-ever Solana Layer 2 blockchain.
— Best Wallet (@BestWalletHQ) December 17, 2024
Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
Best Wallet is a next-gen crypto wallet with advanced features tailored to the evolving market. One of its standout tools, which is gaining widespread attention, is the “Upcoming Tokens” feature.
Upcoming Tokens is a project screener known for accurately predicting new projects that perform exceptionally well after listing.
It accurately predicted the massive success of Pepe Unchained ($PEPU) and CatSlap ($SLAP), which gave investors early access to these projects and enabled them to maximize their gains before both tokens became widely available to the broader market.
Best Wallet offers the same opportunity as Solaxy, and the attention it is receiving during its presale shows a glimpse of its potential post-listing success.
How To Buy $SOLX Tokens
To participate in Solaxy’s presale and be a $SOLX holder, head to the Solaxy website and connect your wallet, such as Best Wallet.
Best Wallet supports a multichain approach. This makes it an ideal platform for $SOLX, as the token is available on Ethereum and Solana.
For Best Wallet users, purchasing $SOLX is easy and can be done directly within the app.
Join Solaxy’s community on X and Telegram.
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