New Solana layer 2 scaling solution Solaxy ($SOLX) is tipped for 10x gains as institutions move in on Solana. Solaxy is undergoing a presale and has raised $32 million so far, making it the largest Solana ICO ever. Investors are scrambling to buy $SOLX with anticipation that this could well be the future of the Solana ecosystem.
It’s tackling Solana’s congestion issue using rollup technology and off-chain computation, which will make it cheaper, faster, and more reliable than the Solana layer 1 chain. With Solana proving one of the hottest blockchain ecosystems on the market and Solaxy equipping it with heightened transactional capabilities, the project has real potential. Currently, investors can buy $SOLX at its presale price of $0.001712, but this will rise throughout the ICO, with the next increase in under two days.
Solana’s institutional gold rush drives smart money to Solaxy Institutions are pouring into the Solana ecosystem at a remarkable rate. The past months have seen both increasing adoption of the Solana blockchain, as well as shifting business operations as institutions position to buy more $SOL. It started when $1.5 billion asset manager Franklin Templeton moved its tokenized money market fund to the network in February.
Then, $11.5 trillion asset manager BlackRock followed suit and did the same thing later that month. It’s worth noting that Franklin Templeton is among the firms awaiting approval for a spot Solana ETF, alongside Grayscale, VanEck, and more. Beyond on-chain adoption, Solana is also seeing investment firms use creative strategies to stockpile $SOL.
Notably, SOL Strategies has followed Michael Saylor’s Strategy playbook and plans to raise $500 million to buy $SOL using convertible notes. The firm announced on Thursday that they have just secured the first $20 million in funding, which will be used to buy $SOL and then stake it on the company’s validators. Meanwhile, DeFi Development (JNVR) has filed with the SEC to offer upto $1 billion in securities for business operations that including buying $SOL.
Institutional players are showing huge appetite for $SOL and its ecosystem right now, but smart money traders believe $SOLX could be the best way to captalize. With Solaxy currently undergoing its presale, the project presents significantly more room for growth compared to the $77 billion Solana. As to how far it could go, Jacob Bury from 99Bitcoins believes the project could give 10x gains after listing on exchanges.
And this wouldn’t be a surprise. The crypto market is reetnering a bullish phase with Bitcoin back above $97K, and Solaxy is solving a real issue within a top blockchain ecosystem. Adding another 10,000 TPS to the Solana toolkit Solana is renowned for its high scalability.
It’s capable of 6,500 transactions per second (TPS), which is magnitudes higher than competitors like Bitcoin, Ethereum, and even BNB Chain. Yet, Solana’s TPS limit can be hit in periods of peak network activity, and this leads to congestion issues where wait times increase and many transactions fail. But with Solana now attracting institutional attention, it’s crucial for it to operate flawlessly at all times.
A couple of minutes of downtime could cost sophisticated users millions or even billions of dollars. Enter: Solaxy. The layer 2 blockchain that’s taking Solana to new heights with an additional 10,000 TPS.
This will allow Solaxy to accommodate substantially more users than the Solana main chain, which positions it for strong adoption once the L2 goes live. The team has already successfully launched the Solaxy test network, which has processed over 1 million transactions so far. This not only proves that the team is technologically capable of shipping the final product, but indicates that development is well underway.
Solaxy has also had its smart contract audited by Coinsult, who found no issues with its code. This is another signal that Solaxy is rooted is solid fundamentals, contributing to its long-term potential. And with the Solaxy presale raising more funds than any other Solana presale in history, it’s clear that investors are highly bullish on this project.
It has all the hallmarks of a crypto primed to explode. Follow Solaxy on X or join its Telegram for updates. Alternatively, visit its website to buy tokens.
Visit Solaxy Presale This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.
