Solaxy (SOLX) – The New Meme Coin That Aims to Fix Solana's (SOL) Biggest Issues

Solaxy is the new meme coin in Solana's ecosystem which will actually be Solana's first Layer-2 (L2) project.

Solana (SOL) price saw a wild ride this week, rallying from $177 on January 13 to hit $292 yesterday, January 19. However, the start of the new week triggered a correction that first brought SOL down to $234, then pushed it back up to $272, only for it to once again drop to $252 at the time of writing.

Now, the crypto sector is seeing a lot of volatility, with even Bitcoin, which previously blew up to $109,114 — officially a new all-time high — now spiraling down, currently at $106.4k.

The drop started only hours prior to Donald Trump’s inauguration, scheduled to take place later today. The upcoming event brought hype to the crypto sector, but some traders have opted to take profit, triggering a significant price dip. Still, this could be only a temporary correction, and the price might yet bounce back up once it finds a strong support.

But, all of it went back to the launch of the new Trump meme coin, which quickly reached a $15 billion market cap, only to then see a sharp dip.

Known as Official Trump (TRUMP), the Solana-based token went live on Saturday, skyrocketing from $7 to over $75. However, since then, it too saw a 29% dip to the current price of $53.51. And, since it runs on the Solana blockchain, many have started buying SOL, as well.

However, with both TRUMP and SOL now correcting, investors might want to look into an alternative called Solaxy (SOLX) — a brand new meme coin that is still in ICO.

Solaxy Is Solana’s First L2 Project

Solaxy meme coin is Solana’s new L2 project. It was created in response to some of the major problems with the Solana blockchain, primarily network congestion.

Solana was initially created to solve problems with the Ethereum blockchain, such as slow transaction speeds and high fees, and in that regard, it was very successful. Today, it is one of the fastest and cheapest major blockchains. However, it was less successful in terms of scalability, which resulted in network congestion and failed transactions.

Now, the Solaxy meme coin emerged from the woodwork as an L2 project to try and solve this issue as well. It will operate within both the Solana ecosystem and the Ethereum ecosystem, essentially acting as a bridge between the two. Both communities will be able to use it and have their transactions processed at near-instant speeds and for cheap, but without any failure or congestion.

This is something that many have been waiting for, and as a result, its ICO blew up, raising over $12.4 million in only five weeks. Currently, the SOLX token is selling at a price of $0.001606, and it will see its next price increase in only a little under two days. That gives you plenty of time to research the project and buy some of its tokens, if you decide that you like what you see.