Solana Surges 20% on ETF Launch, Investors Eye $156

Solana (SOL) has experienced a significant price surge following the launch of two Solana futures ETFs by Volatility Shares LLC. The news of the ETF launch has had a strong impact on the market, with Solana's price jumping beyond $135 before facing a correction and settling at $130.63. This price movement comes amidst a broader market rebound, with Bitcoin (BTC) surpassing $85,000 and the overall market cap crossing $2.8 trillion for the first time since March 9th.

Investors are optimistic about Solana's future, with a 24-hour long/short ratio of 2.75 indicating that only 26.67% of traders are shorting SOL. This suggests a bullish sentiment surrounding the token, with analysts predicting further gains in the short term. Pattern analyst Trader Tardigrade is confident that SOL is headed to the $156 level by the end of March, dismissing the possibility of a further decline to $100.

The launch of the futures SOL ETFs paves the way for a Solana spot ETF, which is highly likely to launch this year according to analyst James Seyffart. Charts analyst Mister Crypto expects SOL to reach the $250 level by late April, as market conditions improve and hype around SOL grows. Investors are also turning their attention to Solaxy, a project that intends to address Solana’s congestion-related issues with the release of a Layer 2 blockchain. Solaxy's presale could end at a perfect time and result in explosive gains once the token hits the decentralized exchanges (DEXs).

Solaxy intends to join the meme coin market by combining Pepe-inspired imagery with utility through its Layer 2 blockchain. With the release of its Layer 2 solution, Solaxy aims to improve Solana’s transaction speeds during high-traffic hours by bundling transactions and processing them off-chain, which could also result in lower gas fees for investors. Meme coin expert Crypto Boy praised Solaxy’s developers for their commitment to transparency, reflected by their continuous development updates. According to this month’s update, Solaxy’s developers are now working on a token launchpad addition to the ecosystem, which will make the deployment of new projects more efficient.

Crypto Boy expects SOLX to skyrocket by 100x once it hits the DEXs, urging his audience to start accumulating SOLX before the presale wraps up, as it is nearing its final stage. The expert also advises his followers to take advantage of the generous 150% staking annual percentage yield (APY) to earn more Solaxy passively. However, the staking APY will decrease as investors stake more SOLX, ensuring early backers get the best rewards.

Investors can purchase Solaxy using ETH, SOL, USDT, or a traditional bank card via the presale website. Currently, SOLX costs $0.001668 each, a price that will reach $0.00169 by the end of the presale, according to the project’s whitepaper. Alternatively, SOLX is also available via Best Wallet’s apps, which feature the token in their “Upcoming Tokens” sections and also accept BNB as a payment method. With $27 million already raised, and a community of over 83,000 followers across X (Twitter) and Telegram, Solaxy stands a solid chance to replicate or even surpass the success PEPU saw on release.

Solaxy’s developers emphasize investor trust and security, with 10% of the total SOLX supply allocated to liquidity to ensure a safer trading environment. Additionally, Coinsult’s audit of Solaxy’s smart contract confirmed there are no threats to investor funds. As Solaxy continues to surpass its funding goals and move through presale stages, it won’t be long before it’s ready for its first DEX listings, leaving investors with limited time to purchase it on the ground floor.