Solaxy’s presale passes $30 million as centralised exchanges face fresh scrutiny.

A fresh wave of infrastructure concerns shook the crypto market this week after Binance was forced to halt withdrawals due to a temporary outage in an Amazon Web Services (AWS) data centre.

A fresh wave of infrastructure concerns shook the crypto market this week after Binance was forced to halt withdrawals due to a temporary outage in an Amazon Web Services (AWS) data center.

The incident, which also affected several other platforms and sparked lively discussion online, threatens to derail the market's recovery and could have implications for the legal and regulatory landscape.

Binance had to disable all withdrawal services after encountering difficulties executing user orders.

"We are experiencing difficulties executing user orders on the platform due to technical difficulties with one of Amazon Web Services' data centers," Binance announced.

"This is causing some delay in trading activity. We are working closely with the AWS team to resolve the issue as quickly as possible."

The exchange confirmed that deposits were still being accepted and apologized for any inconvenience caused by the outage.

"We will provide a full update as soon as possible," the statement concluded.

Several other platforms were also affected by the brief but widespread disruption.

KuCoin also reported difficulties executing limit orders and advised users to switch to market orders for faster execution.

Rabby, a Web3 wallet service, experienced issues claiming its native RABBY tokens, while DeBank reported difficulties displaying data.

The response among the crypto community was mixed, with some praising Binance for its transparency regarding the technical difficulties.

"It's refreshing to see Binance being open about the technical difficulties they're facing and keeping the community updated," one user on X (formerly Twitter) commented.

However, others used the incident to reiterate their concerns about the lack of decentralisation in the crypto industry.

"Another day, another round of optimism blitzed by a wave of technical difficulties," another user posted.

"Where are the decentralised solutions we've been promised?"

This isn't the first time a major AWS outage has affected crypto platforms.

In 2021, a large-scale failure in an AWS data center affected a significant portion of internet traffic, impacting crypto exchanges, trading apps and even mainstream web services.

With over 30% of cloud workloads running through AWS, the stakes are high when outages occur.

While some industry figures have used these incidents to argue for decentralised infrastructure, others are looking at solutions that address the root of the congestion, especially on fast-growing Layer 1 networks.

The network, known for its low fees and high transaction speeds, has struggled with scalability during periods of peak demand, rendering it largely unusable for periods of time.

These issues are becoming increasingly pressing as Solana's adoption continues to surge, particularly with large-scale dApps launching on the network.

However, a new generation of crypto projects is emerging, offering scalable and decentralized solutions that could provide an alternative to existing platforms.

Among them, Solaxy, a Layer 2 scaling solution built for Solana, is gaining attention for its promise to ease the very congestion issues that plagued Solana during prior network spikes.

The project has already raised over $30 million in its ongoing presale, and its SOLX tokens are now priced at $0.001696.

Investors can participate via direct purchase using ETH, USDT, or BNB and through bank card payments on the official Solaxy website.

Tokens are also being sold on platforms like Uniswap and Paraswap for maximum convenience.

Furthermore, Solaxy offers a competitive staking program with a 134% APY on its SOLX tokens. This provides an opportunity for early investors to maximize their returns while supporting the network's stability ahead of the token's public exchange debut.

This initiative is part of a broader strategy to expand into new markets and engage a wider audience.

Solaxy combines the technical promise of a Layer 2 scaling solution with the lighthearted appeal of meme coins, showcasing a frog motif in its branding—a tribute to the recent surge in meme coins like PEPE and TURBO.

Yet, what truly sets Solaxy apart is its execution. The project has already completed several key development upgrades, showcasing its commitment to delivering on its promises.

In its most recent update, Solaxy highlighted improvements to its custom-built rollup sequencer, introducing "soft confirmation" features that enable users to quickly view and confirm their transactions on the platform before full settlement on Solana's mainnet.

This capability is crucial for optimizing the user experience, especially during periods of high throughput when transactions might take longer to finalize on-chain.

"We've also been working hard to prepare for the upcoming token generation event and exchange listing," the team stated in its latest announcement.

"We're excited to share more details about these milestones soon."

As the market recovers and Solana's price begins to bounce back—up 21% in the past week—Solaxy has capitalized on the renewed investor appetite.

Its Layer 2 scaling solution is gaining attention as a