Solaxy (SOLX) Raises $27 Million in Presale, Underscoring the Popularity of the Go-to Next-Generation Blockchain

Solaxy is gaining much attention for its plan to obliterate the congestion problems afflicting the Solana network. But Solana's growing pains are not holding it back

Solana Layer 2 Solaxy ($SOLX) has raised $27 million in its huge presale ahead of its launch later this year.

The project, which is aiming to provide a scaling solution for the Solana network, has also been gaining attention for its impressive fundraising ability.

Solana is currently struggling with congestion issues as a result of its surging popularity, but scalability solutions like Solaxy could help to alleviate this problem and enable Solana to reach even greater heights.

Solana Surging As Bitcoin Faces Resistance

Solana was trading 1.7% higher at $133, while major altcoins were also trading in the green. Bitcoin was shifting up a gear to $85,741 in a 3.6% move.

Among the Solana coins, a clutch has shown resilience over the past 24 hours. Dogwifhat ($WIF) is up 8.75% at $0.495, Fartcoin ($FARTCOIN) advanced 24% to $0.344, decentralized exchange native token Raydium ($RAY) is at $1.85 for a 10.8% gain, and SPX6900 ($SPX) is 7.6% higher to $0.437.

$SOLX is priced at $0.001668, but there are only 24 hours until the presale price increases in its 60th stage. Given its strong scaling use case and fundraising, the price of the native token is set to explode at listing.

Meme coins like $WIF have risen 31,018% since their lows, so imagine what a coin that builds stuff to solve real-world problems can achieve.

As crypto assesses yesterday’s rate decision and dot plot and Powell comments on what it means for the direction of US Federal Reserve monetary policy, the market is stabilizing as bulls prepare for a renewed charge.

Fed Chairman Jerome Powell and the Federal Open Market Committee (FOMC) members are struggling with the competing challenges of a possible tariff-inspired resurgence of inflation and a simultaneous dent to confidence and growth from the same source.

The Fed has yet to determine decisively which way it will turn, but dovish noises indicating that interest rate cuts are still very much in play (albeit for the second half of the year) will be aiding risk assets, including crypto.

Financial markets liked Powell’s reassuring tones on inflation and recession, which suggested that the risks on either side of the equation would likely balance each other out. The total crypto market cap is up 1.4% to $2.9 trillion.

Interestingly, BlackRock’s Robbie Mitchnick, global head of digital assets at the asset manager, thinks that recession would actually be a tailwind for bitcoin. “A no-landing scenario would be a big catalyst for bitcoin,” he says based on its scarcity, decentralization and “independence from traditional monetary systems”. In other words, holding Bitcoin – and we might add crypto more broadly – is a good hedge against economic stress.

Is New Solana Layer 2 $SOLX About to Change Everything?

Whatever Powell and the FOMC’s final direction of travel, the prospects of a ‘Fed Put’ backstop for the market are waning. But looking past the macro noise, Solana-watchers are focused on the next development milestone steps for the Solana blockchain as it celebrates its fifth year of existence.

No congestion. No limits. Just speed. $SOLXhttps://t.co/mdaTX9aVVxpic.twitter.com/RkMqrOKmhg

— SOLAXY (@SOLAXYTOKEN) March 14, 2025

Alongside the coming launch of the Firedancer client, more immediately implementable solutions like Solaxy’s Layer 2 will likely provide robust solutions for those transacting on Solana today and into the future.

Also, if anyone thinks Solana is just about meme coins, they would be making a mistake that could cost them. Solana is positioning itself as the No.1 chain for running decentralized applications, supplanting Ethereum and its myriad would-be challengers.

Solaxy is the first Layer 2 chain on Solana ($SOL), and it has set its sights on no bigger target than solving the scaling roadblocks that have emerged as a major problem of its success.

Whether it is new addresses, daily transactions, or daily active addresses, Solana is the clear winner among the top blockchains (see the charts below).

Messari Analyts Note $SOLX As One Of The Biggest Solana Innovations of 2025

If successful in its scaling ambition, Solaxy could cement Solana’s position as a far more reliable blockchain for users and developers and a more compelling choice for investors backing Solana-based projects.

Solving the congestion problem will establish Solana as the foremost commercial