Solaxy ($SOLX) has just broken its own presale record with a staggering $1.4 million raise in 24 hours, taking its total raise to $38.5 million.
The project is already the biggest-ever Solana presale, but at the rate it’s going, there’s even a possibility it becomes the biggest presale in crypto history.
It’s building the world’s first Solana layer 2 blockchain, aiming to eradicate the network’s congestion issue by providing an additional 10,000 transactions per second (TPS).
If it achieves its goal, Soalxy will secure Solana’s long-term network health, which is a juncture likely worth billions of dollars. While Solaxy’s presale raise is already significant, its use case indicates there remains substantial room for growth.
However, the team recently announced they’ll be closing the presale doors. Per the website, there are just 26 days left until the Solaxy presale ends. As such, potential investors should act quickly or risk paying a much higher price once $SOLX hits the open market.
Solaxy presale explodes $1.4 million in a single day
Investors are scrambling to buy $SOLX after the team announced a definitive presale closure date.
But they’re not just racing against the clock; they’re racing against each other.
Due to the rate at which tokens are selling, investors are likely to absorb the entire $SOLX supply before the presale end date, forcing an early closure. This means that investors are now going head-to-head to secure their tokens.
The presale end was announced just two days ago, and since then, Solaxy has seen its biggest-ever presale days. It raised $1 million on Monday and $1.4 million on Tuesday.
Before the announcement, the presale’s daily raise averaged between $100K and $300K.
This intensifying market appetite signifies a bright future for $SOLX. It shows that the project has real investor appeal, which hints to continued demand once it lists on the open market.
We saw a similar thing happen with Ethereum layer 2 blockchain Pepe Unchained, which raised around $30 million in its initial four months of presale and then over double that in its last 28 days. And within five days of being listed on exchanges, Pepe Unchained exploded to a $400 million market cap and provided some presale investors with up to 10X gains.
Yet, what makes Solaxy unique is that while there are dozens of Ethereum layer 2 blockchains on the market, Solaxy will be the only Solana layer 2. This provides it with a first-mover advantage, which could lead to faster growth.
Adding to the excitement, Solaxy also announced it will launch an app called Igniter Protocol, which enables users to create their own cryptocurrencies. The team called this “just the beginning of $SOLX domination.”
Making Solana bull-market ready with 10,000 TPS
With Bitcoin trading above $106,000, the bull market is getting back into the swing of things.
However, this is bittersweet for Solana. Indeed, the bull market will likely push ecosystem prices higher and attract millions of new users. But the chain is not equipped to handle such incoming demand.
During peak activity periods, Solana faces congestion issues and cannot handle all transaction requests. This causes longer wait times and increased rates of transaction failures, which can cost users lots of money.
Solaxy will fix this using off-chain computation and transaction bundling technology. It aims to process 10,000 transactions per second, which will make it cheaper, faster, and more reliable than Solana.
If it achieves this goal, Solaxy will allow Solana to thrive in the bull market. But it won’t just create a better user experience; it’ll unlock new use cases and attract more developers to the network.
This could unlock billions of dollars in new value for Solana, which would bolster the $SOLX price.
Crypto analysts are well aware of this. In a recent YouTube video, analyst Jacob Bury said SOLX will 10x once it launches on exchanges.
Secure $SOLX now as early presale sellout looks likely
With $1.4 million raised in the past 24 hours, it’s becoming increasingly likely that the Solaxy presale sells out before the official end date.
And with such strong demand and a use case that revolutionizes Solana’s transactional capabilities, it appears that $SOLX may trade at a much higher price once it lists on the open market.
This means that investors must act now to secure their share of the $SOLX presale tokens.
Follow Solaxy on X or join the Telegram channel to catch the latest news and updates. Alternatively, visit its website to buy tokens.
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.