Open CoinMarketCap, and also you’ll see that costs are crashing in the present day. It is because Trump has imposed tariffs on a few of the US’ largest buying and selling companions.
Beginning Tuesday, most items coming from Mexico and Canada will value 25% extra, and 10% extra from China. The transfer has sparked fears of a looming commerce conflict, which might sluggish financial development.
Solana is the worst-hit crypto inside the highest 10, falling 7.9% prior to now 24 hours.
Nonetheless, as crypto majors crash, viral presale venture Solaxy ($SOLX) is displaying unimaginable defiance. It has cruised previous the $17 million complete raised milestone on Saturday, with over $400K generated prior to now 24 hours.
Solaxy is constructing a Solana layer 2 to resolve the congestion situation, which was as soon as regarded as its kryptonite.
Presently, Solaxy will be purchased for $0.001622, however this value will rise all through the ICO, with the following improve in in the future.
Solaxy’s L2 gives greater scalability than Solana
The Solaxy layer 2 blockchain leverages off-chain computation and transaction bundling expertise to supply elevated scalability in comparison with Solana.
That is necessary as a result of Solana is unable to deal with all transactions that move by its community throughout peak exercise. Most not too long ago, this occurred when Donald Trump launched his OFFICIAL TRUMP meme coin, inflicting a spike in buying and selling exercise and placing many transactions on maintain.
We’re at the moment experiencing a large surge of 8,000,000+ requests per minute. Whereas we work to stabilize our platform, transactions might have bother going by on the primary strive.
We admire your persistence 🙏
— Phantom (@phantom) January 19, 2025
This yr, Solana has considerably outperformed its largest rival, Ethereum, primarily as a consequence of its elevated scalability. With the assistance of the Solaxy layer 2 blockchain, Solana will have the ability to deal with much more on-chain exercise, strategically positioning it for long-term development.
Utilizing the Solaxy layer 2, you’ll get Solana’s safety and permanency advantages whereas additionally having fun with decrease charges, greater speeds, and elevated reliability.
The Solaxy staff launched a technical replace not too long ago, saying that they’ve efficiently built-in the Solana digital machine (SVM) contained in the Solaxy rollup. Per the web site, this replace is “at the core of ensuring secure and correct state transitions” between Solana and Solaxy.
Sensible contract audits and 232% staking APY
Though Solaxy stays in its presale, its early actions counsel that this might be probably the most promising cryptocurrencies in the marketplace.
Past its technical implementations of SVM into its rollup, the venture has efficiently handed a wise contract audit from Coinsult, testifying that it’s secure and safe.
It has additionally built-in a staking mechanism into its presale marketing campaign in order that buyers can instantly start producing passive earnings after contributing to the ICO. Presently, staking gives a 232% APY, however this can lower because the staking pool grows.
These fundamentals are attracting a whole lot of consideration. Along with the venture elevating $17 million, Solaxy has garnered over 65K followers on its X account and 5K on its Telegram channel.
Consequently, high trade analysts are additionally taking discover. As an illustration, Umar Khan from 99Bitcoins not too long ago stated it may 100x in value. 99Bitcoins is a high crypto media outlet with 700K subscribers. This exhibits that Solaxy can draw curiosity on the highest ranges.
Knowledgeable says Solana ETF coming in March, excellent news for Solaxy
Bloomberg’s Senior ETF Analyst Eric Balchunas highlighted that a number of issuers have utilized for Solana futures ETFs and instructed we may see them “on the market as early as mid-March.”
Outstanding crypto dealer Ali Martinez replied to Balchunas’ commentary, suggesting that this lays the way in which for parabolic SOL value development within the coming months. In accordance with Martinez, SOL may rally to a jaw-dropping $4,700.
#Solana $SOL ETF by March! https://t.co/tjMBRJMU3S pic.twitter.com/gS2mwFSKpg
— Ali (@ali_charts) January 22, 2025
Certainly, that’s an optimistic prediction, however even when Solana reached midway to that, the floodgates are open for Solaxy to doubtlessly obtain the 100x goal set by 99Bitcoins analyst Umar Khan.
Whereas Solana has struggled this week, Solaxy has smashed one other presale milestone. So when Solana regains steam, we may see Solaxy thrive much more.
