Solaxy (SOLX) Presale Nears Its $50M Target as Bitcoin and Altcoins Hit New Highs

Solaxy (SOLX) is becoming one of the top new disruptive crypto projects this year, raising $41 million in its presale as of this week.

Solaxy (SOLX) is quickly becoming one of the hottest new crypto projects of 2024, having raised over $41 million in its presale this week. The sale’s growth has coincided with Bitcoin’s new all-time highs, speculation about an upcoming altcoin season, and Solana’s surging on-chain activity—with early signs suggesting that Solaxy could hit the $50 million target and complete the SOLX presale in June.

As reported by CCXV, the Solana network is undergoing major upgrades like the “Alpenglow” consensus overhaul, which was unveiled at the Accelerate conference in New York last week. These upgrades are being driven by the community’s ambition to reduce Solana’s latency and maintain its ultra-fast speeds.

Moreover, more institutions are moving to tokenize real-world assets on Solana, pushing usage to a point where even the blockchain’s speed could be tested to its limit.

Solaxy is designed to handle such extreme traffic spikes, ensuring that the entire Solana ecosystem continues to run smoothly. Because of this, crypto experts like Ben Best believe that SOLX offers a rare buying opportunity before it potentially reaches $1 from its current presale price.

With the SOLX presale discount ending on June 16, the window to buy SOLX for $0.001736 is closing fast. Looking at its current funding rate, the sale may well sell out before the 19-day countdown ends.

Solana Outperforms Top Cryptos With over 1700% Gains, But Can It Keep Up?

Over the last couple of years, Solana has steamrolled past most other top-tier cryptocurrencies in terms of returns.

Comparing price performance from early 2023 until May 2025, Solana is up approximately 1,700%, while even Bitcoin’s impressive 563% jump pales in comparison. This momentum speaks volumes about Solana’s appeal: it has emerged as a go-to chain for DeFi, NFTs, and even gaming projects looking for high throughput and low fees.

According to DeFi Llama, the Total Value Locked (TVL) on Solana’s DeFi protocols is currently around $9.4 billion, a 45% increase over the last month. Meanwhile, the supply of stablecoins on Solana has reached $11.5 billion, nearing its all-time high of $13 billion. This liquidity fuels trading, yield farming, and new decentralized applications popping up on the chain.

However, such rapid growth is a double-edged sword. Solana’s base layer is famously capable of handling historical volumes, but it has also experienced slowdowns and temporary shutdowns. No matter how fast a Layer 1 is, a sudden influx of users can strain even the best infrastructure. This is where Layer 2 solutions come in, expanding capacity and offloading peak traffic.

For investors, this sets up an interesting scenario: if Solana continues its bullish trend, it could lead to an L2 solution like Solaxy also experiencing explosive growth, potentially generating even better returns than the Solana cryptocurrency itself.

Solaxy Brings Ethereum-Style Layer 2 Scaling to Solana

While Ethereum has Base, Arbitrum, Optimism, and a growing list of other rollups, Solana now has Solaxy (SOLX), which aims to perform a similar function of bundling transactions off-chain and periodically settling them on the main Solana network. In doing so, Solaxy provides additional buffer space when Solana’s usage reaches record levels.

Solaxy has already launched a testnet bridge that enables users to transfer native SOL between Solaxy’s environment and the Solana devnet. In the future, Solaxy plans to integrate with Ethereum (and possibly other ecosystems like Base), facilitating cross-chain communication. Such interoperability usually translates into deeper liquidity and broader user adoption.

The tokenomics of Solaxy specify a total supply of approximately 138 billion SOLX. A portion of this supply, around 25%, is allocated to community rewards, which include staking yields. Presale buyers can participate in staking their tokens as part of the purchase process, potentially earning up to a 98% APY before the protocol’s mainnet launch.

On May 24, Solaxy announced the launch of the Igniter Protocol, which will allow SOLX holders to mint and deploy their own tokens directly on Solaxy’s Layer 2 chain.

Together with a live block explorer and real-time data tracking, Solaxy’s user toolkit positions it not just as a concept-stage meme coin, but as an ecosystem hub offering the same high-speed environment Solana is known for—but with increased bandwidth to support new DeFi, NFT, and gaming projects.

Analysts across the crypto sector are noticing. The popular 99Bitcoins channel recently highlighted that Solaxy’s first-mover advantage (being the first-ever L2 on