{"id":619340,"date":"2025-01-18T16:14:47","date_gmt":"2025-01-18T16:14:47","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=619340"},"modified":"2025-01-18T16:14:47","modified_gmt":"2025-01-18T16:14:47","slug":"solana-closes-on-all-time-high-as-first-layer-2-sol-project-smashes-11m-in-presale-funds","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-closes-on-all-time-high-as-first-layer-2-sol-project-smashes-11m-in-presale-funds","title":{"rendered":"Solana Closes On All-Time High As First Layer-2 SOL Project Smashes $11M In Presale Funds"},"content":{"rendered":"

Solaxy ($SOLX)<\/a>, the first Layer-2 built on Solana ($SOL), has raced past $11 million in presale funding after adding another $1 million in the past few days. <\/p>\r\n\r\n\r\n\r\n

With an average daily run rate of approximately $343,750, the project is clearly attracting increasing attention from investors and gaining momentum as it approaches the second month of its fundraising campaign.<\/p>\r\n\r\n\r\n\r\n

Solaxy is looking to hop on the $SOL bull run, which just hit weekly highs, and cruise its way to $12 million within the next week. And early investors realizing the opportunity of holding the next Solana can get $SOLX at $0.001604<\/a> at the current stage of its presale, but that price is set to increase soon with the next funding stage starting in under two days.<\/p>\r\n\r\n\r\n\r\n

Solana’s $SOL used to trade 39,909.61% below its current value, but with high throughput, low latency, and low fees, it became a building ground for new dApps that sparked the demand for $SOL. Now, Solaxy is building on that success, taking Solana to the next level with even more scalability and innovation.<\/p>\r\n\r\n\r\n\r\n

If you’re looking to get in early, now is the time. Don’t miss the chance to grab $SOLX before the price goes up and the presale window closes.<\/p>\r\n\r\n\r\n\r\n

Solaxy Aims To Bring Greater Scalability And Network Efficiency To Solana<\/h2>\r\n\r\n\r\n\r\n

Like most altcoins, Solana’s price action in recent weeks has mirrored that of Bitcoin ($BTC). When Bitcoin spiked to $100,000 on January 6, only to quickly dip below that level and then trade lower for the next nine days, Solana’s movement was nearly identical. $SOL dropped from over $212 and traded below $200 until Thursday.<\/p>\r\n\r\n\r\n\r\n

As $BTC is back above $100,000, $SOL has also regained ground to trade at $253.53 at the time of writing, just 5.5% short of its all-time high after surging 36% in the past 24 hours.<\/p>\r\n\r\n\r\n\r\n

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Source: TradingView<\/em><\/p>\r\n\r\n\r\n\r\n

Solana has earned the nickname “Ethereum killer” thanks to its superior scalability, faster transaction speeds, and significantly lower fees compared to Ethereum. While the idea of Solana fully replacing Ethereum is still up for debate, Ethereum’s massive developer ecosystem, more decentralized structure, and ongoing upgrades make it difficult for any competitor to overtake it in the near future.<\/p>\r\n\r\n\r\n\r\n

That said, Solana is outpacing Ethereum in at least one area: DEX volume. According to data from DefiLlama, Solana leads all chains with $113 billion in DEX volume, compared to Ethereum’s $73 billion.<\/p>\r\n\r\n\r\n\r\n

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Dexs – DefiLlama<\/a><\/p>\r\n\r\n\r\n\r\n

Yet, for Solana maximalists, there are still areas for improvement. One of the key challenges is the way its network verifies and tracks user accounts. To address this, the Solana community has proposed a “lattice-based homomorphic hashing function” to enhance network efficiency and speed.<\/p>\r\n\r\n\r\n\r\n

Even before that upgrade is implemented, a new project, Solaxy – Solana’s first-ever Layer-2<\/a> – is already making strides as a promising solution to enhance the network significantly.<\/p>\r\n\r\n\r\n\r\n

Solaxy Can Solve Persistent Issues On Solana<\/h2>\r\n\r\n\r\n\r\n

Solaxy is the solution to Solana’s most persistent issues, including network congestion, failed transactions, and scalability concerns. The project provides a platform where developers can create decentralized applications and launch new tokens that utilize and even enhance Solana’s Layer-1 capabilities.<\/p>\r\n\r\n\r\n\r\n

While many have already enjoyed using Solana to launch meme coins through Pump.fun, Solaxy aims to provide an even smoother, faster experience by addressing some of Solana’s pain points, paving the way for more seamless meme coin launches in the ecosystem.<\/p>\r\n\r\n\r\n\r\n

At the heart of it all is the $SOLX token, which serves as the primary currency for transactions. As Solaxy continues to grow in development and its community expands, $SOLX is expected to gain even more traction.<\/p>\r\n\r\n\r\n\r\n

In just a month since its introduction to the crypto world, Solaxy<\/a> has already raised significant capital, reflecting its quick recognition by the Solana community. Plus, with over 60,000 followers on X, it’s clear the project is gaining massive traction.<\/p>\r\n\r\n\r\n\r\n

Yet, for those thinking Solaxy is just another way to bolster Solana’s position against Ethereum, they’d be mistaken. $SOLX actually bridges the ecosystems of both Solana and Ethereum, offering interoperability that connects Ethereum’s DeFi world with Solana’s efficiency.<\/p>\r\n\r\n\r\n\r\n

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Will $SOLX Bring 399x Returns Like $SOL?<\/span><\/div>\r\n<\/figure>\r\n\r\n\r\n\r\n

As mentioned, at its current price, $SOL has already flipped 399x. The big question now is whether a Layer-2 token like $SOLX can achieve similar returns.<\/p>\r\n\r\n\r\n\r\n

Looking at past precedents, Ethereum’s Layer-2 tokens boast a combined market capitalization of over $17 billion, with the top five tokens each valued at over $1 billion.<\/p>\r\n\r\n\r\n\r\n

Being the pioneering Layer-2 on Solana<\/a>, $SOLX is poised to play a critical role in unlocking Solana’s untapped potential. The Solana community is coming to terms with the fact that the blockchain isn’t perfect, and proposals to improve it, including Solaxy, are taking important steps to address its shortcomings.<\/p>\r\n\r\n\r\n\r\n

With this in mind, it’s not unreasonable to think $SOLX could replicate or even surpass the gains of $SOL over time. <\/p>\r\n\r\n\r\n\r\n

Trusted crypto education platform 99Bitcoins has forecasted strong returns, projecting a conservative 10x gain for $SOLX, which could be realized upon its exchange debut, given the early support it’s already receiving. As investor access broadens, these gains could accelerate even further.<\/p>\r\n