Solaxy ($SOLX) is building the world’s first Solana layer 2 blockchain, and it’s generating a massive buzz.
Investors are pouring significant amounts of capital into the project’s ongoing presale, aiming to capitalize and generate substantial returns once $SOLX lists on exchanges.
The layer 2 blockchain will make transacting on Solana cheaper and faster, which opens it to new possible use cases while enhancing the user experience.
Investors have an opportunity to participate in this innovative project from the ground up via the token presale. The current price is $0.001592, but this will increase throughout the campaign, with the next increase in one day.
Those wanting to capitalize on the opportunity must not rest on their laurels. As price increases take place, the upside potential will be reduced. Therefore, prospective buyers should act as early as possible.
Over 40% of non-vote transactions fail on Solana
During times of peak market activity, It’s not just long wait times and higher fees that Solana users are grappling with – many transactions are flat-out failing.
According to Dune Analytics data, over 40% of non-vote transactions on Solana have failed this week. This is down from a couple of months ago when a group of Reddit users complained that the fail rate was as high as 75%.
Many of these failed transactions come from arbitrage trading bots, which aim to balance prices across markets. As one Reddit user argued, “Arbing is a financial use case, and that use case is being slowed.”
He continued by pointing out that there is a real person behind these bots, forced to pay gas fees for transactions that did not complete.
For Solana to grow into a legitimate financial force and continue expanding its adoption, it’s crucial that all transactional avenues are fit for purpose. Right now, that’s not the case.
Solaxy is solving this transaction failure issue while also offering more competitive fees and faster throughput.
The next era of Solana apps could launch on Solaxy
According to the Solaxy whitepaper, the aim of the layer 2 blockchain is to unlock Solana’s next era of applications. In recent months, we’ve seen meme coin factory Pump.fun take center stage, swiftly approaching the $400 million revenue mark.
Meanwhile, Solana’s AI front continues to advance. ai16z leads the charge with a $2.2 billion market cap and 212% gain this month amidst its plans to unleash fleets of AI agents.
Projects like Zerebro and Griffain also continue to show demand, both rapidly developing their respective idealized versions of AI agentic infrastructures.
The addition of Solaxy’s layer 2 blockchain will amplify the potential for such breakout use cases, free from Solana’s current transactional limitations.
Prominent crypto analyst Jacob Bury from 99Bitcoins suggests that all of this could lead to significant price gains for $SOLX. He even mentioned the potential for up to a 100x ROI.
Ethereum L2 Pepe Unchained soared 10X – can $SOLX go higher?
One of the interesting things about Solaxy is that its team made the bold move to launch the token presale on the Ethereum network.
The purpose was to immediately penetrate the higher-liquidity Ethereum market, aiming to harness this for the project’s growth.
Reflected by Solaxy’s explosive presale momentum, the move is already paying off. But looking ahead, far more gains could be in store. To gauge how far Solaxy could go, look to Pepe Unchained.
Pepe Unchained is an Ethereum layer 2 blockchain focused on meme coins. Note that there are currently 99 Ethereum layer 2 tokens on the market, according to CoinGecko data.
Yet – despite this dilution – Pepe Unchained rocketed 10x following its presale’s end in December, leaving many investors highly in the money. And what’s more impressive is that it reached a $400 million market cap at its peak, something that Solaxy no doubt hopes to replicate.
https://twitter.com/SOLAXYTOKEN/status/1875575471666008239
But unlike Pepe Unchained, Solaxy is entirely novel in its approach, laying claim as the only project tackling Solana’s congestion issue with a layer 2 blockchain.
So could it go further than Pepe Unchained? Jacob Bury seems to think so, but only time will tell. However, there’s one thing for certain – this is a cryptocurrency to watch closely in 2025.
Stay updated on the latest developments by following Solaxy on X or joining its Telegram channel.
