Solaxy ($SOLX): The Solana Layer-2 Solution That Couldn't Come at a Better Time

After the $TRUMP and $MELANIA coins launched on the Solana blockchain this weekend, SOL is up 45.57 %, surpassing $10B TVL (Total Value Locked)

Solana (SOL) has seen a massive 45.57% surge, finally surpassing the $10 billion TVL (Total Value Locked) mark for the first time since the FTX collapse two years ago, thanks to the launch of the $TRUMP and $MELANIA coins this weekend.

But this success comes with its own set of challenges, as Solana struggles to handle the congestion caused by an unprecedented (no pun intended) surge in transactions. This makes the launch of the Solana Layer-2 solution, Solaxy ($SOLX), all the more timely.

On 19 January, $SOL price reached a new all-time high above $290 and a market cap above $128B, which can be directly attributed to the mania surrounding the Trump-family meme coins.

Can $TRUMP & $MELANIA Get Along?

First came $TRUMP after incoming US president Trump announced his official meme coin on X late on Friday, 17 January.

The $TRUMP meme coin saw massive trading volumes of some $3B over the weekend, reaching its peak at $6B in market cap and $30B in fully diluted value within 24 hours.

A Tough Act to Follow

Like her husband's coin before her, $MELANIA shot the lights out, surging over 21,000% and reaching $12B in less than three hours from launch on Sunday, 19 January.

In fact, the two Trump family meme coins pushed traffic on Solana ($SOL) to new heights over the weekend. While this helped $SOL generate over $35 million in fees and at least $14 million in revenue, the pre-inauguration surge also led to technical difficulties and delays for some of Solana's ecosystem applications, such as Jito and Phantom.

As the pressure on Solana's blockchain continues to mount, a project like Solaxy ($SOLX) is in a prime position to make its debut.

What Is Solaxy?

Solaxy is the token powering the first-ever Layer-2 (L2) blockchain built on Solana. This L2 Solana network will tackle the network congestion, scalability issues, and failed transactions we've seen during this recent peak trading activity.

Although the Layer 2 will not be ready in time to alleviate the pressure during this current TRUMP surge, it will pave the way for Solana's future expansion.

$SOLX is built on Ethereum and aims to tap into the liquidity of Ethereum to enhance Solana, enabling faster, cheaper, and more reliable transactions at an unprecedented scale.

The $SOLX token presale began on December 12, 2024, and has already managed to raise nearly $12 million ($11.93 million). During this time, the token price has risen from $0.001 to over $0.0016 — a 60% increase, reflecting significant interest from investors.

With demand for Solana's infrastructure only rising, analysts believe Solaxy could reach $0.025 by the end of 2025, offering potential returns of 1,462.5% for presale investors, with even higher gains for early adopters. Early $SOLX investors also benefit from dynamic staking rewards, which currently offer 306% annual returns.

The Solaxy network is still under development and is expected to be released later this year, but its promise to address Solana's pain points has already garnered significant attention, evident from its growing community on Telegram and 61K followers on X.

Solaxy to Rise 100x?

As Solana's galaxy of meme coins continues to expand, Solaxy's positioning as an L2 project for the meme coin market, coupled with its attractive early investor rewards, could set it up to become Solana's next 100x coin by the year's end.

However, as with any new cryptocurrency, the risks remain, and you should always conduct your own research (DYOR).