Solaxy’s (SOLX) presale smashed the $33 million milestone over the weekend.
Analyst Umar Khan from 99Bitcoins has labelled it the “next 100x crypto” in his latest analysis – but will this new Layer-2 network live up to the hype?
How Solaxy’s Layer-2 Setup Works
Have you ever tried buying a meme coin on Solana only to watch your transaction fail?
You’re not alone, since this is an issue that has plagued Solana during recent meme coin frenzies.
And that’s where Solaxy comes in – a Layer-2 blockchain built specifically to boost Solana’s performance.
While Solana is already quick and has low fees, it struggles during high-traffic moments.
When traders rush to platforms like pump.fun, up to 40% of non-vote transactions crash and fail.
Solaxy aims to solve this using rollup technology.
Instead of using Solana’s mainnet, Solaxy processes transactions off-chain, bundles them together, and settles them on Solana.
It’s basically like a “shortcut” around the congestion without sacrificing security.
Everything is powered by Solaxy’s native SOLX token, which has a capped supply of 138,046,000,000.
According to Solaxy’s whitepaper, the team has set aside chunks of SOLX for things like marketing, liquidity, staking rewards, and ongoing development.
They’ve even had SOLX audited by Coinsult to ensure its code is secure.
SOLX Presale Raises $33M as Experts Predict 100x Returns
Solaxy’s presale has been on fire since going live in December.
In just five months, it has raised over $33 million and shows no signs of slowing down as it heads towards the $50 million mark.
You can secure SOLX tokens for just $0.001714 each if you invest now.
And Solaxy’s team has made it easy to invest, accepting payments using crypto, a credit/debit card, or via the Best Wallet app.
A major selling point of Solaxy’s presale is that investors can stake their SOLX while it’s still ongoing.
The annual yield is estimated at 121%, with more than 9.4 billion tokens locked up so far.
This setup has got crypto experts buzzing.
Umar Khan from 99Bitcoins made a big claim in his latest analysis: “This could simultaneously be the next 100x play but also potentially the next Shiba Inu.”
He didn’t stop there, adding, “Can we reach a billion-dollar market cap? That could be possible.”
When analysts like Khan start making comparisons to one of crypto’s biggest success stories, people listen.
It seems the FOMO is beginning to ramp up ahead of Solaxy’s launch.
Why Solaxy Has First-Mover Advantage on Solana
The fact that Solaxy is tackling a problem no one else is solving has given it a real edge in the market.
While Ethereum has several Layer-2 solutions – like Arbitrum and Base – Solaxy is staking its claim as Solana’s first and only scaling network.
That means Solaxy currently has zero competition.
Looking ahead, projects like Firedancer aim to enhance Solana’s mainnet, but they’re just upgrading the Layer-1 itself – Solaxy is building an entirely new chain.
And the timing of this couldn’t be any better.
Solana’s DeFi ecosystem has grown massively in recent years, boasting $7.8 billion in total value locked and 163% revenue growth last quarter.
Meme coin frenzies drive most of Solana’s profitability, which Solaxy aims to help with.
When you look at the success of Ethereum’s Layer-2s – which came out of nowhere a few years back – it’s not hard to see why Khan and other analysts believe Solaxy could be primed to explode.
It’s still early days, but the future looks bright for SOLX.
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.