SOLAXY Triggers Pump.fun 43% Volume Crash, But First Solana Layer 2 Solaxy Surges to $22.7m in Presale

Solana ($SOL) is still feeling the effects of the dark side of crypto, illuminated by the $LIBRA scandal, as its price remains subdued under $180. Meanwhile, its first Layer 2 chain, Solaxy ($SOLX), continues to scoop up fresh capital, with its presale raising $22.7 million.

Solana ($SOL) continues to be impacted by the fallout from the $LIBRA scandal, with its price remaining subdued below $180 despite the broader crypto market rally.

However, its first Layer-2 chain, Solaxy ($SOLX), is making waves with its presale, having already raised $22.7 million.

Solana’s price has dropped by 10.4% over the past seven days, extending its losses to 40% from its all-time high (ATH) set just over a month ago.

The network’s preference for meme coin launches, largely driven by U.S. President Donald Trump’s meme coins, has set the stage for its recent rally. However, the launch of Argentine President Javier Milei had the opposite impact.

Investors have likely reached their breaking point with this latest and blatant fraud, venting their frustrations on Solana.

The network has become the go-to chain for meme coin launches, and investors are now expressing their disappointment with SOL.

Pump.fun was also a major victim of meme coin investors' wrath, with the daily volume on Solana's meme coin launchpad showing a noticeable decrease since last week.

From a two-week high of $249 million in daily volume, this dropped to about $141 million on Thursday, marking a 43.37% decrease.

Despite this, many of Pump.fun's top graduates appreciated massively in the past 24 hours.

Fartcoin ($FARTCOIN) soared by 22.1%, AI Rig Complex ($ARC) jumped 28.4%, and Fartboy ($FARTBOY) skyrocketed by 22%.

In fact, the total Pump.fun ecosystem market cap is up by 14% to $3.62 billion in the same time frame.

This suggests that while Pump.fun has slowed down in token launches and trading, capital may be shifting to some of the tokens that are quickly amassing a cult-like following.

There’s also a strong indication that capital is moving toward solutions that could help Solana recover from its current slump and address the ongoing network issues.

These solutions are crucial for making Solana the preferred chain for launching tokens beyond just memes – and the most promising of these is its first Layer-2, Solaxy.

Solaxy continues its presale success, reaching another successful funding stage. The capital it has amassed so far is a direct result of how it addresses Solana's scalability issues.

Solana's run-up to its all-time high was not without its share of congestion problems, which frustrated investors looking to capitalize on the fast-paced nature of meme coin trading.

However, other functions, such as trading, can also be impacted by network congestion. For instance, in June 2022, Solana experienced another宕机episode caused by bots mining NFTs, rendering the network useless.

Solaxy, as a Layer-2 solution, takes transactions off Solana, processes them faster and more efficiently, and then submits them back to Solana as a single batch for validation.

Moreover, Solaxy's technology provides a modular infrastructure with plug-and-play components that make it easy to build diverse applications.

Earlier this month, Solaxy also highlighted significant progress in rolling out its technology in preparation for its eventual go-live.

Could $SOLX Grow in Parallel with $SOL – Could It Flip 351x Too?

Given that Solaxy provides a solution to Solana's scaling issues, both could follow a similar price trajectory. With the former enhancing the latter, the direction is heading upwards.

This is why market observers believe $SOLX has the potential to replicate Solana-like gains of 35,171.64% over its lifetime – a 351x increase.

A similar, though more modest, projection is shared by several influencers in the space, including ClayBro and Borch Crypto.

Best Crypto Presale to Buy Now: Solaxy L2 can 50X

At its current early stage, Solaxy presents an opportunity to secure tokens at a significantly lower price.

The Layer-2 ecosystem of Ethereum is a $20 billion sector, with several tokens valued at over $1 billion. Solana's Layer-2 ecosystem is just beginning to develop, and the first ticket into it is none other than Solaxy.

Be part of Solaxy’s saga to restore balance to Solana

To be a part of Solaxy's journey in enhancing Solana, join its presale. Head over to the Solaxy website and connect your crypto wallet, such as Best Wallet, to purchase $SOLX.

Best Wallet offers multichain support, making it the ideal platform for $SOLX, which is available on Ethereum and will soon be integrated into Solana. Download Best Wallet from Google Play