Solaxy ($SOLX) Raises $12.4M to Solve Solana's Congestion Issues, Backed by ClayBro

Solaxy ($SOLX) has demolished expectations, raising a massive $12.4 million in its ICO following the explosive – and controversial – launch of Solana's newest meme coin

Solaxy ($SOLX) has demolished expectations, raising a massive $12.4 million in its ICO following the explosive – and controversial – launch of Solana’s newest meme coin, Official Trump ($TRUMP), on January 18.

The crypto world is still processing the aftermath of the stunning development after the $TRUMP token’s eye-popping 415.65x return over the weekend. That triggered surging trading volume that pushed the Solana network to its limit. Just days after trading below $200, $SOL itself is now surging past $260.

The congestion on the Solana network has prompted investors to seek relief from its first Layer-2 solution, Solaxy, banking on its potential to solve this persistent issue.

Originally launched on Ethereum, bridging two of the biggest DeFi ecosystems, Solaxy is now open to Solana users as well, giving investors access across both chains. 

Now, Solana and Ethereum users can purchase $SOLX at $0.001608 per token for the next 44 hours before the price increases to mark the next funding stage.

$TRUMP And $MELANIA Cause Solana Network Congestion – Solaxy To the Rescue 

Official Trump launched on Solana at 2 a.m. UTC on Saturday, catching many by surprise with a meme coin release just ahead of his inauguration on Monday.

Initially doubted as a scam, the token gained legitimacy after official posts on Donald Trump’s accounts – first on Truth Social and then on his official X account – appeared to confirm its authenticity.

My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC

According to DEXTools data, from a starting price of $0.1824, $TRUMP surged to a high of $75.83 – a staggering 41,565.7% jump in just over two days. The trading volume was significant enough to propel $TRUMP to a market cap of $14 billion, although it currently sits at $10 billion. It still ranks among the top 20 most valuable crypto assets and in the top three meme coins, surpassing Pepe ($PEPE).

Less than 24 hours later, a follow-up token for the incoming first lady, Official Melania ($MELANIA), was announced via Melania Trump’s official X account. As of Monday, $MELANIA quickly rose to the top 60 crypto assets.

However, the surge in trading activity from $TRUMP and $MELANIA led to the familiar problem of network congestion on Solana. 

Yet, while many users have voiced frustration over the network’s inability to handle the increased traffic, others have shifted their sights to its first Layer-2 solution, Solaxy, which aims to address Solana’s congestion issues.

Solaxy Is Building A More Efficient Trading Platform For Solana-Based Meme Coins Like $TRUMP And $MELANIA

Solaxy has been in presale for just over a month, and early investors are already scooping up $SOLX tokens at lightning speed as they position themselves in what could be the solution to not only Solana’s congestion issues, but its pesky transaction failures and scalability woes as well.

Essentially, Solaxy is an enhancement to Solana, which will allow developers to build decentralized applications or launch new tokens without compromising and even improving Solana’s Layer-1 capabilities.

The end result? Solaxy will supercharge Solana, making it far more capable of handling increased activity with a dramatically lower risk of transaction failure. When launched, it promises to significantly boost network stability and capacity, especially during times of high demand.

Thus, Solaxy positions Solana as a much more powerful chain for trading meme coins – one that won’t buckle under pressure as it did with $TRUMP and $MELANIA over the weekend.

Popular crypto influencer ClayBro has taken note of the presidential meme coin bonanza and shared his insights on how it has fueled demand for $SOLX.

More Trump Family Meme Coin Launches Might Increase Solana’s activity, Heightening Need For Solaxy 

Celebrity meme coins have already become a major trend since meme coins surged as a legitimate sector of crypto in 2024. 

Coins like Mother Iggy ($MOTHER), Jason Derulo ($JASON), and Caitlyn Jenner ($JENNER) have popped up, with more celebrities diving into the crypto space.

With the new U.S. president and first lady making their meme coin debut, their presence could spark a fire, leading to even more tokens to follow suit. Paweł Łaskarzewski, CEO and co-founder of Nomad Fulcrum hedge fund, even took to X, stating that