Despite the fear sentiment in the crypto market, Solaxy ($SOLX) is one of the few cryptos reaching new milestones. The project recently raised $26 million in its ICO, as early investors recognize the potential of Solana’s ($SOL) first-ever layer-2 scaling solution.
Solana has faced several challenges lately, including lower network activity and on-chain revenue. One reason behind this is the SOL network’s network congestion and reliability issues. But many traders are optimistic about an upcoming validator vote on proposals to improve Solana’s reliability. These proposals could pave the way for SOL’s price rebound.
Solaxy sees itself as a significant part of that comeback story. It will help Solana’s network scale just in time for developers and users looking for a more resilient, efficient blockchain experience.
You can still buy SOLX at $0.001666, although that price is set to go up soon.
VanEck Predicts a Comeback Even Though Solana Faces Headwinds
Solana has had a rough patch since hitting its all-time high of around $295 in January. Lately, it’s hovered between $120 and $130, pressured by decreasing on-chain revenue. Its network fees and revenue fell from $165 million during peak network usage in January to roughly $1.25 million last week.
Moreover, the Total Value Locked (TVL) across its DeFi protocols dropped from $12 billion to around $7 billion.
Adding to Solana’s list of problems, investor enthusiasm decreased as the U.S. Securities and Exchange Commission (SEC) delayed decisions on multiple Solana-focused spot ETF filings.
But investment firm VanEck has outlined a more optimistic vision for Solana’s future. The firm’s analysts expect that the U.S. money supply (M2) could reach $22.3 trillion by year’s end if the Trump administration resorts to interest rate cuts or another round of quantitative easing.
Historically, crypto markets have tracked M2 growth reasonably closely, and VanEck believes these conditions could boost the entire smart contract platform market by 43%.
VanEck predicts Solana’s market share could jump from 15% to 22% by late 2025 if developers, decentralized exchanges, and users migrate or expand on Solana. That would push Solana’s market cap to $250 billion and its token price to around $520.
To reach that level, though, Solana needs to fix the performance issues that are affecting its reputation. That’s where Solaxy enters the picture, offering a much-needed approach to scaling that could restore investor confidence in the entire Solana ecosystem.
How Solaxy Could Give Solana the Boost It Needs
Much like Arbitrum and Optimism have done for Ethereum, Solaxy aims to use roll-up technology to take transactions off-chain and bundle them before submitting them to Solana’s mainnet.
By reducing congestion and preventing the “failed transactions” Solana has become infamous for during peak activity, Solaxy could help the network reclaim its status as a favorite for DeFi projects, NFT marketplaces, and even enterprise blockchain solutions.
The Solaxy team has recently made huge progress on a cross-chain bridge that connects Solana’s ecosystem with other major blockchains, such as Ethereum, Base, and Arbitrum. If executed well, this bridge would offer more seamless flows of capital and data, effectively opening Solana to new liquidity sources.
Solaxy’s launchpad is another feature that is drawing attention. This specialized platform will let new projects launch tokens on Solaxy’s chain, potentially dodging some of Solana’s mainnet reliability pitfalls.
The project has also integrated the Sovereign SDK and improved Solana CLI compatibility to streamline the developer experience. These steps point to a team that’s serious about making Solaxy an integral part of Solana’s next growth phase.
If Solaxy can deliver on these promises, it can continue attracting a community that’s grown cautious about Solana’s reliability. And because the SOLX token powers Solaxy’s L2 ecosystem, including transaction fees and governance, its value could rise alongside network adoption.
Investors Have a Limited Time to Buy SOLX Tokens Before They Sell Out
Popular analyst Clinix Crypto recently highlighted Solaxy’s potential in his latest video.
He mentioned how Solaxy’s team consistently publishes developer updates, showing commitment and seriousness.
You can go to the Solaxy token’s official presale page, where you’ll see the current round’s token price and an overview of the amount raised so far.
You can use various popular wallets, such as Best Wallet, MetaMask, and Trust Wallet. Ensure you have enough crypto (ETH, USDT, USDC, or BNB) to trade for SOLX. You can also buy SOLX with a bank card.
Enter the amount of crypto you want to swap for SOLX. After confirming the transaction, your wallet will reserve your tokens. These might not be fully claimable until the presale concludes, but you’ll see your purchased (and stakeable) balance in the presale dashboard.
Solaxy offers up to 153% APY for those who stake their tokens during the presale. Staking early could let you accumulate more SOLX while waiting for the token to list on exchanges in Q2/ Q3 of this year.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.