Solana (SOL) Meme Coin Prices Slip But Layer 2 Solaxy's $SOLX Blasts Past $36m in Presale

Thursday 15 May 2025 – Solaxy ($SOLX) shows no signs of slowing down. The presale has now surged past $36.1 million

The price of Solana meme coins continues to slip as the cryptocurrency faces pressure from a lack of new highs and an oversold RSI.

* Nonetheless, Layer 2 Solaxy is showing no signs of slowing down as its presale surpasses $36.1 million with the addition of $600,000 in fresh capital over the past 24 hours.

* The news comes as Solana cools following its push toward the $200 mark, largely driven by the explosive activity of meme coins.

* Recently, the meme coin sector hit a peak of $72 billion in market cap, with Solana-based tokens contributing over $15 billion to the total.

* However, not everyone is convinced about Solana's long-term potential. Crypto banking giant Sygnum expressed skepticism, highlighting Solana's heavy reliance on meme coins as a key weakness.

* While those tokens generate massive volume, their speculative nature makes them less reliable as long-term revenue anchors, a concern for traditional financial institutions who prefer stability and predictable cash flows.

* As Solana's first-ever Layer 2, Solaxy was designed to address the chain's most critical flaw: network dependability during high traffic periods.

* With its unique architecture, Solaxy can process transactions in parallel with Solana, effectively expanding the chain's capacity without compromising on speed or security.

* This capability could unlock sectors currently dominated by Ethereum, such as decentralized finance (DeFi), non-fungible tokens (NFTs), and tokenization technologies, ultimately enabling Solana to scale without any significant limitations.

* Investors are pouring into Solaxy, with over $1 million in new funding each week.

With over $36 million raised so far, Solaxy is shaping up to be one of the biggest projects of 2025.

For those interested, head over to the Solaxy presale to grab some $SOLX at $0.001724. But don't delay, as this round ends in less than 10 hours, and the next price increment is already set.

Sygnum Isn't Convinced But VanEck And Others Are Going All-In On Solana

Crypto banking group Sygnum isn't sold on Solana just yet. In a recent interview with BlockDeverso, Sygnum's CEO, Thomas Frauenfelder, expressed skepticism about Solana's ability to outpace Ethereum.

Attributing Solana's revenue to meme coins, which generate huge trading volumes but ultimately leave no lasting value, Sygnum views this dependency as a structural weakness. In contrast, Ethereum derives its revenue from stablecoins, DeFi, and tokenization, providing more stable and valuable revenue streams over time.

This difference in revenue models ultimately boils down to a preference for survivability among traditional financial institutions.

"For a financial institution, survivability is key," said Frauenfelder. "If you have a token that is being used for meme coins, the question is, does that generate any revenue for the network over time? It does not. It generates a lot of volume, but no revenue."

This statement highlights a crucial point of divergence between Web3 and TradFi. While meme coins may generate massive hype and short-term gains, their inherent volatility makes them less appealing for long-term investment from a traditional financial perspective.

Instead, Sygnum points to Ethereum's clear edge: security, stability, and longevity – all vital for institutional adoption. From tokenization and stablecoins to DeFi, Ethereum remains dominant. It also continues to outpace Solana's revenue by 2 to 2.5 times, giving it a strong lead in institutional trust.

But others see something different.

Major players are already doubling down on Solana. VanEck's tokenized U.S. Treasury fund launched directly on Solana. DeFi Development Corp. (formerly Janover) just dropped $12 million into the ecosystem and acquired a validator with over 500,000 staked $SOL. SOL Strategies is another publicly traded $SOL acquirer to watch. And let’s not forget the ETF filings from 21Shares, Bitwise, Canary Capital, and VanEck – all aiming to add Solana exposure.

DeFi Development Corp has acquired a Solana validator with over 500k ATOMIC/SOL in a move that underscores the growing interest of traditional financial institutions in the cryptocurrency sector.

The acquisition comes as DeFi Development Corp is nearing the completion of its token offering, in which it has raised

over $12 million to invest in promising DeFi projects and infrastructure. The company's mission is to bridge the gap between TradFi and DeFi, providing value-add services and scaling solutions for the decentralized ecosystem.

"We are excited to be investing in the future of finance by joining the Solana ecosystem and acquiring a validator," said a spokesperson for DeFi Development Corp. "This investment aligns perfectly with our goal of advancing decentralized technologies and scaling DeFi solutions."