Bybit Launches Byreal DEX on Solana Blockchain Solana Price Jumps 7%

Bybit, a prominent global cryptocurrency exchange, has announced the launch of a new decentralized exchange (DEX) platform built on the Solana blockchain. This development has sparked significant interest among traders and investors, who are now eyeing a potential major breakout for Solana's price. The new DEX, named Byreal, is set to go live by the end of the month and aims to combine the liquidity of centralized exchanges (CEX) with the transparency of decentralized finance (DeFi) platforms. Byreal will offer low slippage and protection against miner manipulation through MEV protection, positioning it as a strong competitor to existing decentralized solutions within the Solana ecosystem, such as Raydium, Orca, and PumpSwap.

The announcement has already had a positive impact on the Solana price (SOL), which has increased by 7% in the past 24 hours. This uptick reflects the market's enthusiasm for the news, as the launch of Byreal could attract significant transaction volumes to the Solana blockchain. The bullish sentiment surrounding Solana's price prediction is further supported by the token's recent performance, which has seen it bounce off the $140 level for the third time in the daily chart. Trading volumes have nearly doubled in the past 24 hours, and momentum indicators, such as the Relative Strength Index (RSI), favor a bullish outlook. If Solana breaks out above the key resistance level of $155 and retests it from above, it could confirm a clear runway to $185.

As the Solana network prepares to handle higher transaction volumes from Byreal, the need for a scaling solution like Solaxy (SOLX) becomes more evident. Solaxy is a layer-2 scaling protocol for the Solana blockchain that bundles transactions offline in a side chain to alleviate the mainnet's burden. The developing team has already launched the Solaxy testnet and will launch the mainnet this month. With just two days left before the end of its successful presale, investors have a final opportunity to purchase $SOLX at its heavily discounted presale price of $0.001764. The token is expected to see a spike in demand once the solution is embraced by top wallets and exchanges, and the project offers attractive staking rewards that currently sit at 80%.