Solana's native token, SOL, experiences a significant price surge, while its Layer-2 solution, Solaxy (SOLX), raises over $14 million in its presale. This article explores the factors driving SOL's rally, including increased trading volume, strengthening fundamentals, and political support. It also examines the potential of Solaxy to address Solana's scaling challenges and its strategic positioning within the rapidly evolving cryptocurrency landscape.
Solana 's native token, SOL, has surged by 9% in the past 24 hours, largely recovering from yesterday's losses. This rally coincides with the success of Solaxy ( SOLX ), a new Layer-2 solution, which has exceeded $14 million in its presale. SOL's price has returned to its Wednesday level and is currently leading all major altcoins in terms of gains.
Spot trading volumes for SOL have also seen a significant increase, exceeding $10 billion in the past 24 hours and surpassing XRP, marking a 10% jump from the previous day.On the 4-hour chart, SOL has demonstrated resilience by rejecting the 50-period Exponential Moving Average (EMA) and subsequently adhering to an upward trendline established earlier this week. This positive momentum, coupled with the surge in trading volume, suggests that bullish sentiment is regaining control over Solana. Several factors are converging that could propel SOL even higher in the coming months.One key indicator is the strengthening fundamentals of Solana. Last year, over 7,600 new developers joined the network, injecting fresh talent and driving innovation across various sectors, including DeFi protocols, AI projects, and platforms for real-world assets (RWAs). Moreover, Solana is gaining increasing political support, with venture capitalist David Sacks appointed as a crypto advisor in the Trump administration. Could Solaxy be the next major Layer-2 network? The $14 million SOLX presale indicates that many believe Solaxy holds the key to overcoming Solana's scaling challenges. As Solana's popularity grows, the need for efficient scaling solutions becomes paramount. Solaxy's strategy, which involves off-chain transaction processing followed by batch settlement, could significantly enhance network performance during peak hours. Additionally, the planned bridge between Solana and Ethereum is expected to unlock access to Ethereum's vast liquidity pool. With SOL prices rising and institutional interest in Solana intensifying, Solaxy is poised to capitalize on this favorable market environment. The SOLX token presale, currently priced at $0.001612, presents a potential opportunity to acquire these tokens at a relatively low cost.
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