Solana (SOL) Back in the Spotlight as Bullish News Piles Up Ahead of Solaxy Launch

(formerly Janover) and a major presale milestone from its first Layer-2 chain, Solaxy ($SOLX), which just surpassed $33.5 million in early-stage funding.

Solana (SOL) is heating up again as bullish news keeps rolling in. DeFi Development Corp (trading as DFDV) just announced a massive purchase of 82,504 SOL, adding to its vast holdings.

The firm’s digital asset treasury is really making an impact. As part of a broader strategy to navigate the crypto market, DeFi Development Corp has been accumulating high-upside digital assets since last year.

Announcing the purchase of 82,404.50 $SOL at a price of $0.001716, adding to our crypto-forward treasury strategy. Our total SOL holdings now stand at 400,091 (including staking rewards).

— DeFi Dev Corp. (formerly Janover) Monday, May 6, 2025

Earlier this week, the company also disclosed the acquisition of a Solana validator operation for $3.5 million, paid via $3 million in restricted DFDV stock and $500,000 in cash.

The acquired infrastructure carries an average delegated stake of approximately 500,000 SOL, or roughly $75 million in value, placing the firm in a strong position to earn validator rewards and deepen its involvement in Solana's ecosystem.

DeFi Dev Corp’s new contribution to the Solana ecosystem will be crucial in the coming months as several institutions apply for a Solana ETF with the SEC.

Earlier this year, institutions like VanEck, 21Shares, Bitwise, and Canary Capital filed applications for a Solana ETF with the SEC. These applications were published in the Federal Register on February 28, 2025.

According to Bloomberg Intelligence, the chances of at least one institution getting approval are high, with a probability of 90%.

The approval of a Solana ETF would undoubtedly generate significant interest in the cryptocurrency, potentially leading to a surge in the price of SOL tokens.

However, despite its speed and low transaction fees, Solana has struggled with scalability and reliability, especially during periods of high activity, leading to transaction failures and a less-than-ideal user experience.

This issue stems from Solana's monolithic architecture, where all operations are executed on-chain, in a single layer. In contrast, Ethereum has adopted a modular approach, utilizing Layer 2 chains to handle a portion of the workload, ultimately enabling it to process a greater number of transactions.

During periods of peak congestion, as many as 70% of transactions on Solana fail, as reported by Whale Insider.

This figure underscores the urgent need for a scalable solution to enhance the network's capacity and facilitate smoother operations, especially during times of high demand.

As the leading chain for meme coin trading, Solana is also exposed to periods of extreme volatility in trading activity, further highlighting the necessity of a scalable and efficient Layer 2 solution.

Enter Solaxy, Solana's first true Layer 2, which is currently in presale and set to launch soon.

Solaxy is designed to alleviate pressure on the mainnet by processing transactions off-chain and submitting them back to Solana for finality in batches.

Each batch can hold thousands of transactions, effectively shifting the majority of the computational load from the mainnet to Solaxy. This enables Solana to maintain optimal performance even during periods of high demand.

Moreover, Solaxy's architecture is compatible with any Solana dApp or wallet, ensuring seamless integration with the existing ecosystem.

Furthermore, Solaxy is interoperable with Ethereum, allowing for the transfer of funds and tokens between the two chains. This cross-chain functionality opens up new possibilities for DeFi users and expands the scope of Solaxy's operations.

With its innovative technology and potential to revolutionize the Solana ecosystem, Solaxy is quickly gaining attention in the crypto space.

As more transaction load shifts to Solaxy, SOLX could become the high-utility token powering Solana's growth. For those chasing the next 1,000x, this may be it.

The time to join the Solaxy presale and reap the benefits of its rapidly growing ecosystem is now.

Those who join early will have the opportunity to purchase SOLX at a lower price and contribute to the development of a promising Layer 2 chain.