While top cryptocurrencies like XRP and Ethereum ($ETH) are still consolidating in a fluctuating market, Solaxy ($SOLX) is nearing the $27 million milestone in its presale.
As the first-ever Layer 2 (L2) chain on Solana ($SOL) specifically designed to tackle SOL’s scaling challenges, Solaxy is drawing massive attention from crypto enthusiasts.
This week, Solana celebrated five years since its first block, highlighting its journey from a new blockchain to one now valued at over $65 billion.
However, despite Solana’s rise since its launch, it still struggles with congestion and network outages that have harmed its reputation.
This is where Solaxy comes in. If it succeeds in batch executing Solana’s transactions, it could have a trajectory similar to Ethereum L2s like Base and Arbitrum.
Buyers can still grab SOLX for just $0.001668, but this price will quickly increase in the upcoming presale round.
Why Analysts Think Solaxy Could Outperform XRP and Ethereum
It’s been a busy few weeks for both XRP and ETH, but neither is breaking out of their sideways trajectory.
The Ripple (XRP) team is sending mixed signals: the project has filed for a “RIPPLE CUSTODY” trademark, potentially signaling a move into the crypto custody space. But some analysts have pointed out a bearish angle to the news.
Popular market commentator @BrittoXrpl highlighted a bearish scenario where it might be either late to the custody market or potentially overextending its focus by trying to do too many things simultaneously.
On the other hand, concerns for Ethereum are mounting as it struggles to maintain its position above $2,000.
Although ETH briefly closed above this level at press time, it had yet to show a convincing rally backed by high volumes.
Even Standard Chartered revised its 2025 price target for ETH to $4,000, down from $10,000.
According to Geoff Kendrick, the Standard Charter’s digital assets lead, Ethereum’s structural decline could persist, raising doubts about whether ETH can soon stage a strong rebound.
Meanwhile, all eyes are on Solaxy, especially among those waiting for Solana to leap forward.
In Ethereum’s early years, scaling issues led to the growth of Layer 2 solutions like Arbitrum and Optimism. Solana is now hitting a similar moment, precisely the scenario Solaxy is capitalizing on.
Popular crypto education channel 99Bitcoins highlighted this in a recent YouTube video:
99Bitcoins analysts believe Solaxy could do for Solana what Arbitrum and Optimism did for Ethereum. It could create a more efficient environment, reduce network strain, and fuel a wave of new apps and liquidity.
How Solaxy Adds Value to the Solana Ecosystem
Solana made its name by hosting countless meme coin launches and hot NFT collections. This activity skyrocketed transaction volumes but also exposed severe performance bottlenecks.
SOL’s network has occasionally struggled under the load, leading to slow confirmations or even full-blown outages. While the chain remains a top contender in speed and developer engagement, these hiccups undermine trust among serious investors and dev teams.
Solaxy uses a roll-up approach that processes large batches of transactions off-chain before finalizing them on the Solana mainnet. By decreasing direct pressure on Solana’s core layer, Solaxy can significantly reduce congestion.
The “roll-up” strategy naturally reduces fees by pooling many transactions together. At scale, this can make Solana-based DeFi and NFTs even cheaper to use, potentially attracting more traders and creators to the ecosystem.
While using off-chain processing, Solaxy still uses Solana’s security architecture for final settlement. Users can enjoy faster throughput without sacrificing the chain’s underlying safety net.
Some analysts suggest that a more scalable Solana could lead to the chain reclaiming (or even exceeding) some of the DeFi market share it’s lost to competitors.
Ethereum’s Layer 2 expansions taught us that once reliable scaling solutions go live, a flood of new DeFi, NFT, and gaming projects typically follows.
How to Participate in the Solaxy Presale
Given the current progress Solaxy has already made toward a full-fledged launch, it could be pivotal in reigniting Solana’s next rally.
Early buyers could see a high upside if the rollout runs smoothly, especially given the token’s current $0.001668 presale price.
Interested buyers can visit the Solaxy presale page to buy SOLX tokens.
You can connect a compatible crypto wallet like Best Wallet, click “Buy with Crypto,” and then follow the prompts.
The Best Wallet platform lets you trade SOLX with USDT, ETH, USDC, and BNB. You can also use a bank card. Buyers can then stake their SOLX tokens during the presale to earn up to 151% APY.
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.