Solana Crashes 19% Overnight As Traders Turn To Solaxy L2 Alternative

Solana has dropped by as much as 19% overnight. Its price fell to $199 amid the fallout from the deepening tariff war between the US, Mexico, and Canada. It means that SOL is now down by 10% in a week and by 23% in the past fortnight. However, the alt remains up by 100% in the past year.

The next few months could witness the deepening of a trade war between the US and several of its trading partners. Therefore, established coins, such as SOL, could suffer badly. Yet, there are alternatives for traders seeking market-beating gains.

One of the best of those tokens is Solaxy (SOLX). It is a new layer-two network for Solana that has raised over $17.6 million in its presale. That’s certainly a sign of big growth to come.

Solana Crashes 19% Overnight – Where is SOL Heading Next?

As SOL’s chart shows, its momentum has suffered a big dive, having entered a very oversold position over the last few days. Of course, it suggests that an upward correction may come soon. Moreover, many have shared SOL breaking out of the downtrend channel.

Despite the market-wide sell-off, Solana’s chart is currently displaying a bullish reversal. It implies that now may be the perfect time to buy the token. SOL seems on the cusp of a substantial recovery.

The market may need a few more days (or even weeks) to see where the trade dispute involving the US, Mexico, and Canada will go. Yet, if things stabilize, we could easily see SOL making 20% gains in a short space of time.

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Its fundamentals certainly justify a big positive correction. Its platform is still the second-biggest in terms of TVL, at $9.65 billion, according to DefiLlama.

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SOL has also benefited from the launch of Trump Official (TRUMP) in recent weeks. This meme coin has underlined Solana’s credentials as the platform of choice for anyone wanting to issue new tokens.

This status doesn’t seem like it will change anytime soon. The Solana price is likely to return to $220 in the next few weeks and then to $240 by Q2. However, while SOL shows long-term promise, some newer projects are offering even greater short-term upside.

Why is Solaxy the Next Breakout Altcoin to Buy?

For anyone frustrated by SOL’s recent dip, there are newer coins that can rally soon, even in the face of broader market downturns. These are presale tokens, and the best of them often build strong momentum before listing on exchanges—setting the stage for significant gains.  

One of the most exciting new presale coins right now is Solaxy (SOLX), which is Solana’s first fully-fledged layer-two network. Since launching its sale in December, SOLX has raised more than $17.6 million. Moreover, investors are lining up to buy early while it’s still selling at a low level.

As Solana’s first L2, Solaxy will provide speedy transactions and low fees when it launches in the next few weeks. Its platform will help users avoid the delays and dropped transactions that still continue to impact Solana.

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It will also provide instant bridging between itself, Solana, and other chains, with its developers intending to expand compatibility over time. As such, it’s likely to gain big traction in the long run. The platform also aims to become a major hub for meme tokens and DeFi, two big growth areas.

Investors can join its sale by visiting Solaxy’s official website and connecting a wallet, such as Best Wallet or MetaMask. SOLX is currently selling at $0.001624, but it will climb again in the next two days. So, new investors should hurry.

Visit Solaxy Presale