Crypto Traders Pour $41 Million Into Layer 2 Project: Solana Beater?

Bitcoin has surged past its previous record, hitting an all-time high of over $111,000. The crypto market is experiencing strong bullish momentum, driving excitement among investors.

Meanwhile, Solana is getting closer to the crucial $200 mark, an achievement that could open the floodgates for new all-time highs. This is why crypto enthusiasts are now excited about an emerging project called Solaxy (SOLX). It is Solana’s very first Layer 2 solution.

In the past 24 hours, Solaxy’s presale has received over $500,000 in new capital. Its total funding has now surpassed $41 million. Investor interest remains strong as the sale continues.

The presale is set to end on June 16. If the momentum continues, SOLX could exceed $50 million before the deadline.

Solana experienced massive growth, rising from under $1 in 2020 to over $295 in January. Analysts suggest that Solaxy could follow a similar path. 

With 19 days left in the Solaxy presale, early buyers can still secure SOLX tokens at $0.001736. It is a price that could surge once exchange listings go live.

Solana’s Growth Signals Demand for Scalable Layer 2 Solutions

Bitcoin’s recent success has created a conducive environment for Solana. In the week ending May 23, Solana-focused assets attracted a net $4.3 million in fresh inflows. This extends a multi-week streak of capital entering SOL vehicles. 

Alongside these capital flows, traditional finance increasingly leans on Solana’s technology for real-world applications. Enterprise blockchain firm R3 partnered with the Solana Foundation to integrate regulated real-world assets into Solana’s public blockchain. 

This collaboration marks a significant step toward bridging traditional finance with decentralized networks. R3 oversees more than $10 billion in tokenized assets on private ledgers. They are now expanding to Solana, praising its speed and efficiency as “institutional-grade.”

Meanwhile, CNBC analysts have also noted that some fund managers see Solana as a vital piece of their crypto portfolios alongside Bitcoin. 

Several publicly traded companies are now investing in Solana (SOL). Upexi and DeFi Development Corp. have added Solana to their treasuries. 

This signals strong confidence in Solana’s future growth. However, it also increases the risk of network congestion during high DeFi demand.

That’s where Solana’s first Layer 2 project, Solaxy, enters the picture. Layer 2 technologies improve blockchain scalability by operating on top of existing networks without compromising speed or security. 

They help legacy blockchains like Ethereum handle high traffic efficiently. L2 rollups have become essential for managing congestion and ensuring smoother transactions.

Solana has struggled with transaction bottlenecks and network outages in the past. A strong Layer 2 solution like Solaxy can keep speeds high even during heavy network traffic.

Is Solaxy the Solana Beater? Analyst Says It Can Outperform SOL in the Next Bull Run

Market watchers call Solaxy the “Solana Beater” for two main reasons. First, SOLX offers direct exposure to the growth potential of Solana’s broader ecosystem, but with a twist. 

It could have an even greater upside, because it’s still in its infancy. The project tackles Solana’s ongoing network congestion issue. It does this by offloading transactions onto a separate Layer 2 framework.

Solaxy is built as a rollup-based L2. It bundles batches of transactions and processes them off the main chain before committing the final data back to Solana. This approach can drastically increase throughput and keep fees low when on-chain activity explodes. 

The project’s architecture is already coming together, with development parallel to the SOLX token presale. Solaxy’s team has also announced the launch of Igniter Protocol. It is a launchpad for new tokens that will run natively on the Solaxy rollup. 

More than a superficial gimmick, Igniter provides the foundation for an L2-centric economy linked back to Solana’s core.

Solaxy, in partnership with Hyperlane, has created and launched a bridge connecting Solaxy and Solana. This bridge allows secure and reliable SOL transfers between both blockchain networks.

A fully functional block explorer is live, allowing anyone to view real-time rollup activity and smart contract deployments. 

These tangible steps set Solaxy apart from projects that rely solely on marketing hype. 99Bitcoins experts noted that Solaxy is building real infrastructure for Solana. This could help the network manage future traffic spikes smoothly. The goal is to avoid past issues and improve reliability.

If the market rises, Solana could surge past $200. This would bring a flood of transactions needing fast processing. 

A capable L2 solution could see massive gains for its token. Solaxy can ride on Solana’s established credibility, but has more room for exponential growth.

Last Chance to Buy SOLX at $0.001736 Before Listings Go Live

Solaxy’s presale has blasted past $41 million, and demand continues accelerating. The SOLX presale ends in two and a half weeks. The token is priced at $0.001736 for now. It will only be available at this price until the supply runs out.

After the June 16 deadline, Solaxy plans to list SOLX on decentralized exchanges (DEXs). Many community members also speculate on upcoming listings on larger centralized exchanges. However, no specific names have been confirmed yet.

Visit Solaxy Presale

SOLX is set to make its official market debut soon. Meanwhile, presale investors can stake SOLX and earn up to 105% annual yield.