As Solana edges closer to mainstream adoption with Franklin Templeton registering a Solana Trust, Solaxy ($SOLX) raised $20 million in its presale.
Being Solana’s first-ever Layer-2 solution, Solaxy reached this milestone in under two months.
Investor enthusiasm increased when Solaxy’s dev team shared their mission to supercharge Solana’s performance.
Layer 2 tokens often attract many users because they offer a much higher throughput at lower costs. Investor support for tokens like Arbitrum and Optimism has been strong, as their market cap is well above $1 billion despite the downtrend in crypto markets.
Solaxy’s focus on delivering a highly scalable ecosystem has captured the interest of both retail and institutional investors. This is why the SOLX token presale has attracted more than $2.5 million over the past week, bringing its daily run rate to around $350,000.
In the current presale stage, you can buy SOLX for $0.001634. However, buyers have a limited window to grab the tokens before the price increases in the next presale round.
Could More Solana ETF Proposals and SEC’s Approval Spark Another SOL Rally?
Solana has recently been in the spotlight as it grapples with a bearish sentiment due to upcoming $3 billion worth of token unlocks over the next three months.
Historically, these unlocks have pressured SOL’s price, as seen when it dropped 20% following a significant release in August. Many investors are concerned about how this could affect the market if demand fails to match increased supply.
However, institutional interest in Solana is increasing.
Franklin Templeton registered a Solana Trust in Delaware, suggesting it may soon join Grayscale, 21Shares, Bitwise, and VanEck in launching a Solana ETF.
The SEC has already acknowledged several Solana spot ETF proposals. Bloomberg analysts even foresee a 70% chance of a Solana spot ETF approval by 2025.
NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We’re putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.
Here’s the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
— James Seyffart (@JSeyff) February 10, 2025
This wave of potential ETFs could result in more capital inflows and renewed confidence in SOL. If these triggers materialize, SOL could experience a massive rally.
But as adoption grows, so does the risk of congestion.
That’s where Solaxy steps in. It improves Solana’s reliability during network spikes to prevent failed transactions. Solaxy also features a cross-chain bridge to Ethereum to unlock higher liquidity and cater to more users.
Solaxy’s Developer Updates Show Massive Progress
Solaxy’s layer-2 foundation is based on a “rollup” infrastructure.
The network can support significantly higher throughput by aggregating transactions off-chain (and recording data on-chain). The dev team has improved everything from state transition functions to sequencer logic, ensuring the system can handle large-scale usage.
A major update is the integration of Solana’s Virtual Machine (SVM) into a zkVM, increasing scalability and privacy while allowing efficient off-chain computations to be verified on the main chain.
https://x.com/SOLAXYTOKEN/status/1886120606783209566
The team is also testing data availability solutions, including a potential synergy with Celestia and frameworks from Sovereign Labs, to ensure transparency and security for rollup transactions.
Also, Solaxy is progressing in its cross-chain capabilities after partnering with Hyperlane to link Solana and Ethereum.
By prioritizing the main layer-2 components (scalability, bridging, and data storage), Solaxy’s developers are confident they can solve Solana’s congestion struggles.
For early presale buyers, these developments show the SOLX token’s growing utility in the layer-2 space.
How to Buy SOLX Tokens Before They Sell Out
If Solana sees another adoption wave (whether from meme coins or Solana ETF), a smooth user experience will be key. Solaxy aims to deliver that scalability, potentially increasing SOLX’s demand in the long term.
To buy SOLX tokens at their current price of $0.001634 each, visit Solaxy’s official presale page.
You can connect a crypto wallet (e.g., Best Wallet) to the buying widget and buy SOLX using ETH, BNB, USDT, and even a traditional card.
Early buyers can also stake their SOLX tokens for up to 190% APY.
