Whales Stash $7.7 Million In Explosive New $SOLX Presale for Solaxy, the Ethereum-Compatible Solana Layer 2.

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Gary McFarlane

Acting editor-in-chief

Gary McFarlane

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Gary McFarlane is the editor-in-chief at Cryptonews.com

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January 2, 2025 10:12 EST

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It’s not even three weeks old yet and already the presale for Solana’s first meme coin-centric Layer 2 solution, Solaxy ($SOLX), has raised a tidy $7.75 million.

It was helped along by a whale purchase of $158k in the early hours of New Year’s Eve, UTC, a sign that high rollers are beginning to throw money behind this innovative new project thanks to its viral appeal and high-utility.

The Solaxy presale currently offers investors the protocol’s native $SOLX at a fixed low price of $0.001588 per token. However, this is due to increase incrementally to $0.00159 in a day, so prospective buyers had better hurry if they want to maximize returns on this project.

Solaxy has plans to list on major exchanges, which could forever put $SOLX’s price well beyond what its earliest investors are now paying for it.

Alongside the fixed, incremental price increases over the presale period, first investors also maximise their staking returns by taking advantage of higher yields over the presale season.

According to the numbers, investors have staked over 2.4 billion $SOLX tokens, with a lucrative 468% APY on offer to those who stake today, but this figure is variable and decreases as the amount of stakers increases, so investors must move quickly to get the most out of the hottest new presale in Solana meme coins.

Only Solaxy Can Help Solana’s Growing Galaxy of Meme Coins

It is a widely known fact that, for all the risks due to their inherent volatility, meme coins are one of crypto’s buzziest sub-sectors. In the last 24 hours alone, the meme coin sector alone grew 9%, triple the 3.2% advance made by the wider crypto market.

However, zoom in specifically on Solana’s meme coin sector and we can see that in the last 24 hours, Solana’s meme community leapt in value 14.3% to capitalize $21.3 billion of meme coins’ $117 billion market.

With on-chain traffic now growing around meme coins in general and Solana meme coins in particular, Solaxy investors are betting on the protocol’s potential to address Solana’s well-known congestion issues through its groundbreaking Layer-2 technology.

Firsty, Solaxy reduces the data burden on Solana’s Layer 1 by offloading transaction processing onto a second layer that processes transactions in bundles before sending them back to the first to settle them. This enables Solaxy to enhance Solana’s scalability without compromising the network’s performance or integrity.

But the second standout feature of Solaxy is its ability to quickly bridge Solana with Ethereum, merging Ethereum’s liquidity and security with Solana’s speed and cost-efficiency.

$SOLX’s dual compatibility creates an ecosystem optimized for frictionless decentralized finance (DeFi) and meme coin trading. This will ultimately prove to be the biggest lure among both retail and institutional traders when the project launches.

Influencers Are Already Hyping the Solaxy and $SOLX

Solaxy’s presale has barely completed its third week and already prominent influencers like StockInvestor and ClayBro have amplified Solaxy fever, suggesting the protocol is helping Solana to get ready for the next stage of its meme coin and DeFi gold rush. Word of mouth has already helped Solaxy gather around 54,000 followers across social media.

You can buy $SOLX on the Solaxy.io homepage or via the ‘Upcoming Tokens’ feature in the fast-growing new Web3 crypto walled Best Wallet.

With its innovative Layer-2 solution addressing critical issues on one of the fastest-growing blockchain networks, Solaxy presents a compelling case for long-term growth.

Funds from the presale will go toward product development and marketing.

For updates, connect with the Solaxy community on X and Telegram.