Despite Solana’s 13% loss this week after the Libra ($LIBRA) rug pull, Solaxy ($SOLX) surpassed $22 million in its presale.
As Solana’s first-ever Layer 2 protocol, Solaxy is seeing huge demand in its presale and shows no signs of slowing down.
In the last week alone, the project raised more than $2 million with an inflow of roughly $350,000 daily.
Many investors are eagerly watching Solaxy as it helps Solana overcome its scalability issues and perhaps even spark the next SOL price rebound.
Only a limited time is left to buy SOLX for $0.00164, which will soon increase in the upcoming presale round.
How the Libra Meme Coin Crash Dragged Solana Down
For a brief period earlier this year, Solana soared from around $175 to its all-time high of $294.
The surge was mainly fueled by the launch of $TRUMP and $MELANIA meme coins. But LIBRA’s recent crash hurt the market confidence in Solana-based meme coins.
LIBRA surged to a nearly $4.5 billion market cap soon after its release, allegedly promoted by a now-deleted post from Argentine President Javier Milei on X.
Soon after, Dexscreener data showed how LIBRA lost over 90% of its value.
This is why some community members, including Pump.fun founder Alon, have called for improved user protections and more rigorous screening of new meme tokens on Solana.
I’m disgusted by the events that transpired over the past days surrounding $LIBRA. The people behind this project made substantial personal gains at the expense of many users, the ecosystem, and even an entire country.
I hope the people responsible get what they deserve.
I’m…
— alon (@a1lon9) February 17, 2025
The hype around Solana meme coins faded after the TRUMP token’s decline last month. LIBRA’s crash could worsen this, as it has already contributed to Solana’s 13% decline over the past week.
While SOL’s near-term sentiment looks shaky, it’s worth noting that capital is still flowing into Solaxy. Many investors are optimistic about this project as it solves real issues and addresses Solana’s scalability concerns.
Is Solaxy the Game-Changer Solana Needs?
Many Solana supporters see a chance for a rebound if the network can capitalize on a new growth catalyst. With potential Solana-based ETFs on the horizon and analysts projecting $400 as a possible next target, SOL might need a big project to reignite its bullish narrative.
Solaxy is Solana’s very first Layer-2 solution, currently in presale.
The development team has been transparent about progress, sharing regular updates on how rollups will improve transaction speeds and lower congestion.
https://x.com/SOLAXYTOKEN/status/1890159110785544394
By merging Layer-2 tech with cross-chain bridges, Solaxy aims to make Solana more versatile, particularly for developers who want seamless interaction between Solana, Ethereum, and other networks.
Recently, Solaxy revealed that it’s working with Sovereign Labs and Hyperlane to improve its performance and security.
Internal benchmarks on Solana’s mainnet look promising, indicating that the final product may reduce transaction fees and open doors for more complex decentralized applications.
When these features are fully launched, Solaxy could be the breakthrough project that helps Solana truly be an “Ethereum-killer.”
How to Join SOLX Token Presale Before it Sells Out
At the heart of the project is the SOLX token. It’s the network’s transaction token, which also gives holders exclusive governance and staking benefits.
Solaxy plans to list SOLX in Q2/Q3 of 2025. The biggest returns would come from grabbing the tokens while they are still in presale—before any listings.
Many investors are already drawing parallels to Solana’s 2021 run when SOL famously skyrocketed from around $0.5 to an all-time high of $294 in a few years.
Popular crypto analyst ClayBro recently highlighted how the SOLX token could be the next crypto to explode in the next bull run.
He mentioned how the token’s presale was reaching new milestones despite the ongoing market uncertainty.
The window to buy SOLX for $0.00164 is quickly closing as it prepares to enter the next round.
Buyers can visit the Solaxy token presale’s official website and connect a compatible crypto wallet (like Best Wallet) to buy the tokens.
You can also stake your SOLX tokens for up to 180% APY.
