Just two months after its inception, Solaxy (SOLX) has crossed the $20 million funds raised milestone, positioning it as one of the most hyped presales today. The surge in investor interest comes as no surprise, as many established meme coins struggled to make significant gains over the past week.
The project revolves around the upcoming Layer 2 network its developers intend to use to improve Solana’s scalability. Plus, with its multi-chain compatibility, the Solaxy Layer 2 will also benefit from exposure to users who prefer Ethereum’s ecosystem.
With the previous success of Pepe Unchained (PEPU), which developed a Layer 2 built on Ethereum’s mainnet and exploded by over 700% in the first 48 hours of its launch, it’s no surprise Solaxy is gaining momentum during its presale.
Solaxy Seeks To Make Solana “Infinitely Scalable” As A Potential SOL ETF Approaches
Capturing nearly 30% of the market’s daily volume, which translates to $4.15 billion, Solana is currently the market’s leading chain by daily activity, according to data from DeFiLlama.
Although an impressive feat, it also puts the Layer 1 blockchain’s congestion issues in the spotlight, which are more apparent during high-traffic hours. Solaxy seeks to resolve those issues and secure faster and cheaper transactions for Solana’s users, with 30% of its total token supply fueling the development of its Layer 2 network.
Using a system called rollups, Solaxy will bundle transactions and process them off-chain, reducing the workload for Solana’s mainnet. However, all transactions will finalize on Solana, retaining its robust security and transparency.
Solaxy’s developers have shared a series of dev updates showcasing their work on the upcoming platform in partnership with Hyperlane and Sovereign Labs, with more updates to come before the Layer 2 launches.
Source: Solaxy’s X
With the SEC acknowledging Grayscale’s push to establish a Solana ETF, the chain could see record activity in the future if it’s approved and institutional investments start pouring in. That means Solaxy could be entering the market at a perfect time to capitalize on increased interest and attract more investors.
Expert Highlights Solaxy’s Massive Staking Rewards And Explosive Potential Amidst A Meme Coin Sector Decline
Investors looking to maximize their investment can stake Solaxy and take advantage of the project’s 199% staking APY, allowing them to double their token holdings long-term.
However, the APY will decrease as investors stake more SOLX, making this the best time to purchase and stake the token.
The meme coin sector faced a sharp decline this month, entering February valued at $92.9 billion. The sector is currently valued at $69.5 billion, with Dogecoin (DOGE) accounting for over half of the meme coin market cap.
Meme coin expert ClayBro sees that as a positive development for Solaxy, as he expects the sector to explode in the upcoming months.
He believes Solaxy will see increased adoption during the next meme coin cycle, as investors may turn to it to avoid congestion issues that plagued the market during the launch of Official Trump (TRUMP), which saw some transactions taking days to process.
ClayBro advises his audience to enter the presale while the per-token price is low, as Solaxy
follows a dynamic pricing model that sees its per-token price increase each time a funding milestone is reached or enough time passes.
Two Days Remain Before Solaxy’s Per-Token Price Increases – Here’s How To Buy SOLX
Investors can currently add Solaxy to their portfolios for $0.001634 each using BNB, ETH, USDT, or a bank card. The token is available via the presale website or Best Wallet’s apps, which feature it in their Upcoming Tokens section, making it available to the wallet’s 250,000+ monthly users.
With Best Wallet’s endorsement and 15% of its total token supply fueling Solaxy’s marketing efforts, the project already gathered over 74,700 followers across X (Twitter) and Telegram, making it one of the most popular presales among meme coin investors.
Besides encouraging early adoption with its dynamic pricing model, the project set aside 25% of its total token supply for community rewards. Although further details are yet to be announced, the team revealed they’ll be distributed exclusively to early supporters.
Solaxy also focuses on investor security. The project allocated 10% of its total token supply to liquidity, reducing the risk of a rug pull and lowering slippage.
Plus, its smart contract has been audited by Coinsult, which found no issues in its code, confirming investor funds are safe with SOLX.
Solaxy’s next price increase is scheduled in just two days, or if the presale raises another $465,000 before then, leaving investors with limited time to secure it at a lower entry point.
