Solaxy's ($SOLX) Fundraising to Build Solana's First Layer-2 Is Surging, Its ICO Now Exceeds $23.5 Million

Solaxy's ($SOLX) fundraising to build Solana's first Layer-2 is surging, with its ICO now surpassing $23.5 million.

Solarky, the first Layer-2 scaling solution on Solana, has reportedly raised over $23.5 million in token presales as it approaches its launch.

The company's fundraising efforts come amid growing interest in Solana and its potential to become a leading blockchain network.

Also, Bitcoin price slipped below $90,000 on Monday as market sentiment soured further and fear gripped traders.

This pessimistic outlook spilled over to Solana, which dropped to $141 on Monday morning, as traders grew increasingly apprehensive about the upcoming token unlock in March.

However, some analysts remain optimistic about $SOL's price prospects, with Bitwise Asset Management projecting a bullish case of $551 and a bearish scenario of $462 for the token by 2025.

At its current price, Solana would need to rise 291% to hit its most bullish target and 228% to reach its bearish scenario.

But how can Solana achieve such gains despite the looming sell pressure? The answer may lie in Solaxy ($SOLX) – the first Layer-2 solution on the Solana blockchain.

Can First Layer-2 Solaxy Help Solana Hit $551?

Solana is set for one of its largest token unlocks in project history, with 11.2 million $SOL – worth approximately $1.5 billion at its current price – scheduled to be released into the market on March 1.

The primary concern isn’t only the increase in token supply but also who holds these tokens. A significant portion was acquired by major VC firms, including Galaxy Digital, Pantera Capital, and Figure, during the FTX bankruptcy auctions, where they paid around $64 per token.

If these firms decide to take profits, they stand to gain over $783 million at $SOL’s current price, fueling fears of significant selling pressure.

Also, according to Arkham Intelligence data on Monday, crypto market maker Wintermute has already withdrawn over $38.2 million worth of $SOL from Binance.

However, Master Ventures CEO and blockchain advisor Kyle Chassé remains bullish on Solana’s 2025 outlook, citing a Bitwise Asset Management research report that projects a bullish case of $551 and a bearish scenario of $462 for $SOL.

BULLISH!!! ?BITWISE SOLANA PRICE PREDICTIONS:2025:$551 — BULLISH$507 — BASE$462 — BEARISH2030:$6636 — BULLISH$4025 — BASE$2318 — BEARISHBIG MOVES COMING FOR SOLANA ‼️ pic.twitter.com/p0ymDGbqAv

At its current price, Solana would need to rise 291% to hit its most bullish target and 228% to reach its bearish scenario.

So, how can Solana achieve such gains despite the looming sell pressure? The answer may lie in Solaxy ($SOLX) – the first Layer-2 scaling solution on the Solana blockchain.

Can Solaxy Surge 4,155% As It Helps Solve Solana’s Issues?

Solaxy is currently the only solution designed to address the long-standing issues plaguing the Solana network.

As a roll-up, it helps alleviate network congestion by processing transactions off-chain and bundling multiple transactions into a single batch before submitting them to Solana’s main chain.

In recent weeks, Solaxy has already made significant progress in rolling out its scaling solution for Solana.

By reducing network outages caused by high traffic, Solana could prevent user frustration and build greater trust among investors. This could drive broader adoption, particularly in DeFi, a sector where Ethereum currently dominates.

Much like how Ethereum’s Layer-2 scaling solutions helped propel $ETH’s price – especially in 2023 when the Layer-2 ecosystem surged and contributed to Ethereum more than doubling in value – Solaxy could have a similar impact on $SOL, reinforcing Bitwise’s bullish price predictions.

Ethereum Price: ETH Live Price Chart, Market Cap & News Today | CoinGecko

With Ethereum’s top five Layer-2 solutions now boasting valuations over $1 billion, Solaxy could follow a similar growth trajectory. Reaching a billion-dollar market cap from its current $23.5 million presale funding would represent a 4,155% increase.

As Solaxy's launch approaches, it could now be a prime opportunity for investors to enter at current prices and position themselves for potential massive gains.

How To Buy $SOLX In Presale

Get ahead of Solaxy's launch and the eventual exchange debut of $SOLX by visiting the Solaxy website and connecting your crypto wallet – such as Best Wallet – to purchase $SOLX.

Best Wallet's multichain support makes it the perfect platform for $SOLX, which is currently