New crypto project Solaxy (SOLX) has attracted significant attention from crypto investors and enthusiasts as the first Layer-2 scaling solution developed for the Solana blockchain. The project has already secured $28.7 million during its ongoing presale, positioning it among Solana’s most successful initial coin offerings to date.
Currently priced at 0.00168, Solaxy is scheduled for a price adjustment within the next 6 hours. Several market analysts have taken notice of the project, with some projecting a potential 100x price increase during the current market cycle.
This price action could far surpass the performance of established cryptocurrencies, including Bitcoin, Ethereum, XRP, and Solana itself.
SOLX is Addressing Solana’s Scalability Challenges
While Solana offers impressive processing capabilities of 4,500 transactions per second (and a theoretical 65,000 TPS) compared to Ethereum’s 15 TPS, the network regularly experiences congestion during high-traffic periods. This persistent issue becomes particularly problematic during peak demand, such as during the launch of Donald Trump’s meme coin, resulting in transaction delays and failures.
Solaxy aims to address this challenge through its Layer-2 technology. By implementing off-chain computation methods and transaction bundling technology, the project seeks to mitigate these congestion issues.
If successful, the technology could enable developers to build complex applications without network limitations. Potential use cases include new trading platforms, AI applications, payment systems, and other innovations that require reliable scalability.
Solaxy’s Technical Development Progress
Analysts from Cryptonews have highlighted Solaxy’s development progress, noting that it could potentially lead to significant returns for early investors.
According to information published on the Solaxy website, recent development work has focused on optimizing the sequencer functionality for reporting transactions back to Solana and enhancing transaction processing efficiency. Detailed information about the project’s development is available on the dedicated Dev Updates page.
SOLAXY NEW FEATURES… YOU DON’T WANT TO MISS THIS 100X PROJECT
As Solana already offers substantial scalability compared to most blockchain networks, these Layer-2 enhancements aim to create an ecosystem that could handle any amount of traffic, potentially broadening the adoption of Solana as a blockchain.
Market Context: Solana Ecosystem Activity
The timing of Solaxy’s development coincides with increased activity in Solana-based tokens. Solana meme coins are showing positive movement, with Bonk increasing by 6% (outperforming Dogecoin), while Fartcoin and SPX6900 have increased by 30% and 26%, respectively.
After a strong performance in 2024, Solana meme coins appear to be gaining momentum again. Solaxy’s infrastructure aims to provide additional support for this ecosystem activity.
For the $65 billion Solana network, Solaxy represents a potential enhancement that could expand its capabilities. While still in early development, the project has attracted attention based on its technical approach to scaling solutions.
How to Join the Solaxy Presale?
SOLX’s current presale represents an early-stage investment opportunity before the scheduled price increase. With close to $29 million raised and a staking functionality granting investors an APY of up to 142%, Solaxy is quickly becoming one of the most followed new projects.
Those interested in the presale can access it through the official Solaxy presale website. Alternatively, investors can also participate through the Best Wallet app, available on both the App Store and Play Store.
Those interested in following Solaxy’s development can follow updates through the project’s X account or Telegram channel.
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