Solaxy ($SOLX) is Now Just $250,000 Short of Reaching the $27 Million Milestone in Its Presale

Solaxy ($SOLX) is now just $250,000 short of reaching the $27 million milestone in its presale.

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Solaxy ($SOLX) is now just $250,000 short of reaching the $27 million milestone in its presale.

As the first Layer-2 chain on Solana ($SOL) being launched to tackle the mainnet’s scaling challenges, Solaxy is preparing for its launch – which will also coincide with Solana’s birthday on Sunday.

Solana recently passed the fifth year since its genesis block, with founders reflecting on its journey from block 0 to a blockchain now valued at over $64 billion.

If Solaxy successfully aids in expanding the Solana ecosystem, then its current presale price of $0.001666 could be the lowest entry point for investors who are interested in investing in the dawn of a huge Layer-2 sector on Solana. To put this into perspective, Ethereum’s Layer-2 sector is now valued at over $14 billion, with its top four solutions valued at over $1 billion.

However, the next presale stage is due to begin in less than 28 hours, and with it, a higher token price, so this could be a key window to join at a lower cost.

Solana: From 2020 Chaos To Ethereum Rival To A New Era Driven By Solaxy

Solana’s genesis block was created on March 16, 2020, which is a milestone that its founders recently discussed.

The project launched as the COVID-19 pandemic struck, sparking panic and causing the biggest market crash since 1987 – but despite the bleak timing, Solna was able to persevere. As co-founder Raj Gokal pointed out, the time couldn’t have been worse.

solana launched 5 years ago today:– covid lockdowns were rolling across the world– stock market just had the largest drop since 1987– investors called every portco to call for layoffs– every other launch in crypto was cancelledif we could launch then, you can launch now

But from those turbulent beginnings, Solana has gone on to achieve remarkable feats. Today, the network boasts over 1,300 validators, has processed more than 408 billion transactions, and has seen nearly $1 trillion in decentralized exchange volume pass through its ecosystem.

Happy 5th birthday Solana fam! 🥳408+ billion transactions.1,300+ validators.$987+ billion volume.Thank you to all the relentless founders, devs, and nCMOs around the globe who have made Solana what it is today — 5 years in, we're just getting started 🎊 pic.twitter.com/p89PynhjpJ

While Solana has surged to a $64 billion market cap, its journey is still far from over.

Although it hasn’t yet fully claimed the title of ‘Ethereum killer’, it’s worth noting that Solana is still only about half as old as Ethereum. In that time, Ethereum underwent a major phase of development, notably the rise of Layer-2 solutions to address the mainnet’s slow transaction speeds, high gas fees, and scalability issues.

Solana has yet to undergo a similar phase of development – but that’s where Solaxy comes in. Positioned to solve Solana’s scaling challenges, Solaxy could be the catalyst that finally enables Solana to take on Ethereum in full force.

Much like Solana’s launch amid pandemic-induced market fear, Solaxy is emerging during a time when investor sentiment is shrouded in uncertainty, setting the stage for a potentially powerful breakout.

How Will Solaxy Enhance Solana?

Solana has faced persistent network congestion issues, which has limited its ability to fully outpace Ethereum.

Solaxy aims to change that by implementing several key solutions: processing transactions off-chain to reduce the strain on Solana’s network, using rollups to bundle transactions for improved cost-efficiency, and maintaining Solana’s strong security framework.

What is Solaxy? 🤔 Solaxy is the latest and greatest improvement to Solana that:🛸 Processes transactions off-chain to reduce congestion 🛸 Uses rollups to bundle transactions for cost-efficiency

If successful, Solaxy could position Solana as a far more reliable blockchain for developers and a more compelling choice for investors who back Solana-based projects. This would also solidify Solana’s standing for meme coin launches and pave the way for DeFi projects to flourish on the network.

Ethereum has seen a steady decline in its share of total value locked (TVL) in DeFi, and a stronger, more scalable Solana could accelerate this shift – with Solaxy at the forefront of this value exodus.

Might $SOLX 7x, Or Is That Too Conservative?

Now, the big question is: could $SOLX follow a similar growth trajectory to Solana and reach a billion-dollar valuation?

Two key factors could drive this: