After Pepe, Dogwifhat, and Pi Network Dominated Crypto Gainers

After Pepe, Dogwifhat, and Pi Network dominated crypto gainers in the past week

The cryptocurrency market has seen a week of significant shifts, with meme coins like Pepe and Dogwifhat losing steam as attention turns towards projects with more utility.

While PEPE and Dogwifhat stole the show last week, their gains have slowed, leading to investors seeking new opportunities.

As we highlight in the chart below, WIF experienced the most substantial gain, increasing by over 72%.

The meme coin frenzy that swept through the market in recent weeks seems to be winding down, paving the way for a focus on projects with more use cases.

Among the rising stars in this category is Solaxy (SOLX), a Solana-based layer-2 scaling solution.

Solaxy has already raised over $36 million in one of the year's most successful presales as it's quickly approaching the final stage of the token generation event.

Recently, Solaxy has also come into the crosshairs of whale investors, with one large wallet performing a $400k buy.

It's no secret that Solana struggles with congestion, especially during periods of high activity. To mitigate this issue, Solaxy is set to introduce the first scaling solution for the SOL ecosystem.

The project will utilize proven protocols called rollups to process and bundle transactions in batches. These bundles will then be submitted to the layer-1 for final validation, effectively scaling transaction throughput.

The approach is similar to how Arbitrum and Optimism operate in the Ethereum ecosystem, a method that has already proven effective for scaling blockchains.

In addition to scaling Solana, Solaxy will also connect the blockchain with the Ethereum network through bridging technology.

This integration will create a connection between two of the most prominent blockchains in the Web3 space, providing developers with a scalable and secure platform for the next great innovation in the crypto space.

Solaxy's team has also proven that they are more than just talk, having recently launched the project's testnet and associated block explorer.

Since then, the team has continued to optimize both products for performance, putting them on track to achieve their ambitious goal of 10,000 transactions per second for the Solaxy chain.

Popular YouTube channel 99Bitcoins, boasting over 725K subscribers, is bullish on Solaxy, predicting a 10x surge for SOLX after its launch.

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