Solaxy ($SOLX) Is a New Cryptocurrency Project Building the First-Ever Solana Layer 2 Blockchain

This week, developments in the Solana ecosystem indicate that on-chain activity is about to skyrocket – but Solana simply doesn’t have the computational resources to handle all that demand.

Solaxy ($SOLX) is a new cryptocurrency project building the first-ever Solana layer 2 blockchain. The project has already raised $27.2 million in its presale and is fast approaching the final stage.

As Solaxy is being built to alleviate Solana’s biggest bottleneck, it has garnered interest from leading experts. For example, Umar Khan, an analyst who hosts videos on the 99Bitcoins YouTube channel, recently called Solaxy a “Solana gem” and said it holds 100x growth potential.

This would turn a $10K investment into $1 million if it pans out. For perspective, a standard analyst price target is 10x, which is already an impressive multiple.

Since Solaxy’s presale began, investors have scrambled to buy in. And with over $27 million raised, the project now boasts one of the most successful Solana ICOs ever.

And if that doesn’t indicate strong investor support, then its 73K X followers and 9.9K Telegram members do.

The project is also offering an interesting staking feature, which is live now and currently offering a 150% APY, although this will decrease as the staking pool grows.

But if we take a glance at the Solaxy social media sites, then our first impression might be that it’s a meme coin. It wouldn’t be a misjudgment. The project’s artwork is as comedic and eye-catching as that of any joke token.

However, if we look a little closer, then we’ll see that this is just branding, and behind it lies an innovative piece of Solana infrastructure.

Solana’s user base comprises millions of meme coin fans. Solaxy understands this and so speaks to them in their language. But don’t be mistaken – Solaxy is all about real innovation.

Its Solana layer 2 blockchain will use transaction bundling technology and off-chain computation to make Solana faster, cheaper, and more reliable. In effect, this will eradicate Solana’s congestion issue for good.

By tackling the congestion issue, Solaxy aims to future-proof Solana and equip it to handle new applications and adoption. The $SOLX token will be used for staking, paying gas fees, and governance.

Capable of 6,500 transactions per second (TPS), Solana works flawlessly during periods of low user activity, such as in recent weeks.

But in periods of high activity – such as when crypto prices suddenly change or when a high-profile token launches, like Donald Trump’s OFFICIAL TRUMP – things start to break down.

And these are often the most crucial moments for Solana to work as designed.

Looking ahead, some major developments on Solana will likely amplify network congestion. These are the launch of Tron’s $TRX on Solana, as revealed by Tron Founder Justin Sun this week, and meme coin casino Pump.fun launching its own decentralized exchange, which will make meme coin trading even more popular.

$TRX, Pump.swap Launching on Solana Soon – More Scalability is Needed

The Solana ecosystem is continuing to expand rapidly, but its infrastructure must keep up. Solaxy is emerging at just the right time.

And with the support of a strong community and standout analysts on board, it seems that everything is in place for Solaxy to succeed in the coming months.

Traders can capitalize on this by contributing to the Solaxy presale. However, as mentioned, the $SOLX price will rise throughout the campaign.

This means potential buyers should act fast or risk paying a higher price later.