Solaxy Raises $26M in Presale, Aims to Surpass Solana with Layer-2 Solution

Solaxy, a new Layer-2 scaling solution for the Solana blockchain, has garnered significant attention after raising over $26 million in its ongoing presale. This development has sparked discussions among investors and analysts about the potential of Solaxy to become a major player in the crypto market, possibly even surpassing Solana itself. While Solana is currently the third-largest smart contract blockchain with a market value of $67 billion, the success of Ethereum Layer-2 networks, which have accumulated nearly $50 billion in total value locked, suggests that Solaxy could carve out a significant niche for itself.

Solaxy aims to address some of the key issues facing the Solana blockchain, such as network congestion and high transaction fees. By utilizing zero-knowledge rollups, Solaxy plans to significantly increase the transaction processing capacity of the Solana blockchain, potentially ending network congestion and boosting the overall efficiency of the ecosystem. This could lead to a resurgence in trading and development on the Solana network, making it more attractive to both traders and developers.

The $SOLX token, which is at the heart of the Solaxy Layer-2, serves dual purposes as both a meme coin and a utility coin. On the meme front, Solaxy has embraced viral themes like Pepe to attract attention and celebrate Solana's position as a meme trading hub. This strategy is designed to appeal to meme coin traders and encourage them to join the new network. On the utility side, the $SOLX token is the native gas coin for the Solaxy Layer-2, meaning all transactions on the network must be paid for in $SOLX tokens. This creates a strong incentive for traders and developers to hold $SOLX, as demand for the token is likely to increase as Solaxy gains popularity.

The presale of the $SOLX token has been a massive success, with over $26 million raised so far. The token is currently available for purchase at a discounted price of $0.001662, and the project is offering staking rewards of up to 155% APY. Investors can buy $SOLX using various cryptocurrencies, including $ETH, $USDT, $BNB, and $SOL, as well as credit or debit cards. The project's smart contract has been audited by Coinsult, providing confidence in its legitimacy. With the presale nearing its end, investors are encouraged to act quickly to secure their $SOLX tokens before they hit exchanges.

Analysts have weighed in with predictions that Solaxy could be a major success. Jacob Crypto Bury, for instance, has predicted that the $SOLX token could see a tenfold increase in value after it hits exchanges. As developers and traders become more aware of the benefits offered by Solaxy, there is a strong possibility that they will flock to the new Layer-2, potentially eclipsing the Solana mainnet. Even if Solaxy does not fully supplant Solana, its impact on the crypto market is likely to be significant, positioning it as a key player in the future of blockchain technology.