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Experts predict significant gains for a new Solana-based layer 2 project called Solaxy ($SOLX), likening it to XRP and Cardano.
It’s the first project to tackle Solana’s congestion issue using layer 2 rollup technology, a solution frequently used to uplift Ethereum’s scalability.
The project is currently undergoing a fundraising campaign via a public presale, allowing investors to buy in from the start. The presale is generating substantial demand, with over $23 million raised so far.
The current $SOLX presale price is $0.001644, but the campaign operates on a multi-tiered system, with incremental price increases occurring at the beginning of each new presale round. The next round will begin in under one day, leaving little time for investors to secure the best price.
Analysts say $SOLX could 100x like XRP, ADA
Excitement is brewing in trading circles as leading analysts suggest that Solaxy could be the next multi-billion dollar cryptocurrency.
Umar Khan, a prominent investor in assets like XRP and Cardano, says that Solaxy could 100x in price. He recently hosted a video on the 99Bitcoins YouTube channel and hailed $SOLX as a “new utility to solve Solana’s massive pain points.”
Other well-known analysts, such as Borch Crypto, have also praised the project, calling it the “best crypto presale to buy now.”
Strengthening Solana with more scalability
Solaxy will implement off-chain computation and transaction bundling technology to make Solana cheaper, faster, and more reliable.
As highlighted in Umar Khan’s analysis, Solana grapples with congestion issues during periods of high activity. One instance was when Donald Trump recently launched his meme coin on the network, leading to a pileup of transactions that failed to process.
This caused significant losses for some traders and damaged Solana’s reputation as a market-leading blockchain. However, once the Solaxy layer 2 launches, this will no longer be an issue, opening Solana to new levels of adoption and use cases.
The Solaxy team is actively completing the technical implementations needed for the layer 2. Most recently, they announced the successful implementation of a Solana-Solaxy bridge, facilitating the addition and removal of liquidity from the Solaxy blockchain.
The dev update also disclosed the advancement of Rollup Devnet, which will deliver a more seamless builder environment by providing familiar Solana tooling.
It’s important to underline that while Solaxy remains in its early stages, the team behind the project is clearly well-versed and technically adept. With bi-weekly dev updates and support from leading industry analysts, the project appears well-equipped to revolutionize Solana’s transactional capabilities.
There are 5 Ethereum layer 2s worth over $1 billion - will $SOLX be the first on Solana?
The Ethereum layer 2 ecosystem is highly lucrative, with the sector’s market cap at $10 billion. Four layer 2s are worth over $1 billion, with the largest being Mantle, which is worth $2.8 billion.
As it stands, Solaxy is the only layer 2 blockchain for Solana. So given that Solana is rubbing shoulders with Ethereum in metrics like transaction volume, there’s every chance Solaxy becomes the next $1 billion layer 2 blockchain.
If this occurs, Solaxy will hit the bullish predictions set by Umar Khan and Borch Crypto.
How to buy Solaxy at presale
Investors can buy and stake Solaxy from the Solaxy presale website. Simply connect your wallet, choose the amount of $SOLX you want to buy, the crypto you want to pay with, and then complete the transaction.
Alternatively, you can download the Best Wallet app and purchase Solaxy using its Upcoming Tokens feature. This has the added advantage of allowing you to track your presale investment directly from the app.
$SOLX is available to buy both on the Ethereum and Solana networks, providing the token with widespread accessibility. This also bolsters the Solaxy’s growth potential, with liquidity exposure to crypto’s two hottest ecosystems.
Follow Solaxy on X or join its Telegram for the latest news and updates.