Solana TVL Skyrockets Back Up Past $10B – Is Solaxy the Next Presale to Boom in 2025?
The launch of the $TRUMP and $MELANIA coins on the Solana blockchain over the weekend has caused a significant surge in the price of SOL, which is up by 45.57%. This surge has pushed the Total Value Locked (TVL) on Solana past $10 billion for the first time since the FTX collapse two years ago. However, this success has not been without its challenges, as Solana is struggling to deal with the congestion caused by the unprecedented surge in transactions.
In response to this congestion, a Solana Layer-2 solution called Solaxy ($SOLX) has emerged at a crucial time. The $SOL price reached a new all-time high above $290 on January 19th, with a market cap exceeding $128 billion, largely driven by the mania surrounding the Trump-family meme coins.
The $TRUMP coin, announced by incoming US president Trump on January 17th, attracted massive trading volumes of $3 billion over the weekend, reaching a peak market cap of $6 billion and a fully diluted value of $30 billion within 24 hours. Similarly, the $MELANIA coin surged over 21,000% and reached $12 billion in less than three hours from its launch on January 19th.
While the Trump family meme coins have generated significant fees and revenue for Solana, they have also caused technical difficulties and delays for some of Solana’s ecosystem applications, such as Jito and Phantom. This has highlighted the need for a solution like Solaxy to address Solana’s scalability issues and network congestion.
Solaxy is the token powering the first-ever Layer-2 blockchain built on Solana, aimed at improving network congestion, scalability, and transaction reliability. The project, based on Ethereum, aims to leverage Ethereum’s liquidity to enhance Solana, enabling faster, cheaper, and more reliable transactions at an unprecedented scale.
The $SOLX token presale, which launched on December 12, 2024, has already raised close to $12 million and seen a 60% increase in token price. Analysts believe that Solaxy could reach $0.025 by the end of 2025, offering potential returns of 1,462.5% for presale investors.
Despite the promising outlook for Solaxy, as with any new cryptocurrency, there are risks involved, and investors are advised to conduct their own research. With Solana’s meme coin market continuing to expand, Solaxy’s positioning as an L2 project for the meme coin market, along with its attractive early investor rewards, could set it up to become Solana’s next 100x coin by the end of the year.