Join Our Telegram channel to stay up to date on breaking news coverage
Canada-based Sol Strategies has filed with the US Securities and Exchange Commission (SEC) to list on Nasdaq as it moves to expand the Solana ecosystem to US capital markets.
News of the filing fired the company’s share price over 4% higher, according to data from Google Finance, as investors bet on growing institutional demand for assets within the Solana ecosystem.
To date, the company has amassed over 420,000 SOL, worth more than $60 million, and is positioning itself as a vehicle for traditional finance firms to gain Solana exposure.
This is similar to the role Michael Saylor’s Strategy (formerly MicroStrategy) plays in giving investors exposure to Bitcoin.
We’re a technology company—and we’re all in on Solana
This week, we acquired 26,478 SOL for USD$4.7M and fully exited our Bitcoin position. Our treasury is now 100% aligned with validator growth and long-term investment in the Solana ecosystem.
🔹Total SOL Holdings 420,355 SOL…
— SOL Strategies (CSE: HODL | OTCQB: CYFRF) (@solstrategies_) May 29, 2025
Sol Strategies also plans to grow its holdings in the altcoin following a $1 billion equity fundraising to buy more of the asset.
As Solana Investment Booms, Solaxy Emerges As A Standout Bet
As interest in Solana investments ramps up, other ecosystem assets are also likely to benefit. One standout is Solaxy (SOLX), the first Layer 2 Solana scaling solution that is in presale and set to debut in the open market in less than 4 days.
The project has already raised a whopping $58.4 million to make it one of the most successful presales of the year.
Solaxy Provides The Scalability Needed To Accommodate The Surging Interest In Solana
Solana, which was initially launched as a faster and more cost-effective solution to Ethereum, has shown signs of weakness during peak traffic times. This has resulted in transaction delays and sometimes even failures.
That’s where Solaxy comes in. With its native layer-2 sidechain, the project will help the Solana network process a higher number of transactions at any given time.
Once connected to the Solana blockchain, Solaxy will bundle transactions off of the mainnet before sending them to the layer-1 backend for final validation. Ethereum-based layer-2 solutions Arbitrum and Optimism have already proven this approach is a secure and viable way to help a public blockchain scale.
Solaxy will also connect Solana with Ethereum through its cutting-edge bridging technology. This will create a platform for developers that combines Ethereum’s deep liquidity and expanding DeFi ecosystem with Solana’s speeds and low fees.
Solaxy’s team is also proving that they are more than just talk, and have deployed several key components of their infrastructure even while the SOLX token is still in presale.
So far, the Solaxy testnet, its block explorer, the Solaxy bridge on the testnet and the project’s native token launchpad have all been deployed.
That has given the team a strong technical foundation to build from as they continue to execute on their roadmap post the token’s highly-anticipated launch.
The Solaxy team has also just completed a second pre-launch token burn. This time it’s burned 20 billion SOLX, bringing the total burned tokens to 55 billion, or around 40% of the total.
That’s drastically tightening supply ahead of the listing and bodes well for its launch next week.
Another MASSIVE burn. 🔥
We’ve just burned 20,000,000,000 $SOLX, further tightening supply ahead of mainnet.
This follows our previous 35B $SOLX burn, bringing the total burn to 55 BILLION $SOLX – That's ~40% already burned!
View here: https://t.co/0izmHfkIJv
Less supply.… pic.twitter.com/Q7rIj0BCbc
— SOLAXY (@SOLAXYTOKEN) June 19, 2025
Experts Say SOLX Could Soar 100X After Launch
Powering the whole ecosystem is Solaxy’s native SOLX token, which will facilitate transactions between Ethereum and Solana, as well as enable the Web3 community to interact with DeFi apps hosted on the Solaxy blockchain.
Popular YouTube channel 99Bitcoins, with more than 723K subscribers, says SOLX could soar 100X after its launch.
If you are interested to join investors who have pumped almost $60 million into the project, then act before the presale ends in less than 4 days.
Related Articles:
- JPMorgan Files For “JPMD” Trademark, Fueling Stablecoin Speculation
- Metaplanet Passes Coinbase As 7th-Biggest Bitcoin Holder
- Doodles Launches NFT Stickers – Sold Out In Less Than 24 Hours
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
