The Solana price is set to blast past $200 on huge buying momentum triggered by news of bank adoption. As a result, the chain’s first Layer 2 Solaxy ($SOLX) could sell out fast with only 24 days left to go.
Solaxy’s presale is about to hit the $40 million mark, and its fundraising run rate has reached as high as $500,000 every 24 hours.
With the Solana price on a tear, expect that run rate to accelerate. Assuming Solaxy at least maintains its recent fundraising performance, with only 24 days left of the presale, it could easily top $50 million.
It is possible that continued rapid $SOL price appreciation will trigger parabolic demand for Solaxy tokens, which could mean a sellout of the tokens available to early presale buyers, even before the countdown has time to complete.
More reasons to buy $SOLX today – token price increases every 2 days, launching on major exchanges
Prospective buyers should bear in mind that the price of the $SOLX token increases every two days, adding to the urgency of would-be buyers’ decision-making. After completing thorough due diligence, investors will need to move fast to avoid disappointment.
$SOLX token is currently priced at $0.001732. Solana is printing $185.8 at the time of writing.
Also quickening the pulse of investors is news emblazoned across the website that the token will be “launching on major exchanges”, not to mention the up-and-running staking facility that rewards you with 101% annual returns.
The staking APY is adjusted in real-time depending on the level of deposits into the smart contract.
Banks adopting Solana is a vote of confidence in the ‘Ethereum killer’ – Solaxy’s Layer 2 solution will be in high demand
News first reported by the Financial Times that venerable blockchain consortium R3, which counts global banks such as HSBC among its partners, is adopting Solana as its public blockchain, has lit a fire under the price of the next-generation blockchain’s $SOL token.
That’s great news for Solaxy ($SOLX), the first Layer 2 transaction-scaling solution for Solana. Although already much faster than Ethereum (theoretically around 2,000x faster), Solana is still to some extent a victim of its own success.
Solana suffers from traffic congestion at times of heightened activity. And given that it has now cemented its position as the go-to chain for launching meme coins, activity on the network will only grow.
The latest news from R3 confirms Solana’s bright future. It also underlines the case that Solana bulls and Solaxy supporters have been making to counter the narrative that Solana was only good for launching meme coins.
For some, that messaging was seen as tarnishing Solana’s image with financial institutions and other big corporations.
But, as Solaxy’s backers have often pointed out, the meme coin frenzy on Solana should be seen as a stress test. Despite the congestion issues, Solana has still delivered in a way that Ethereum has failed to do.
There’s no doubt about it, though – the Solana network is going from strength to strength. Transactions are up 66% over the past 12 month,s with daily active addresses 854% higher, contract calls 96%, and transaction fees soaring 409%.
Solana Foundation announces upgrades – Solaxy helps Solana to secure its future
To secure its future, Solana still needs a Layer 2 to stamp out its pesky congestion issues – issues that will only grow in light of the latest news.
The Solana Foundation a few days ago announced more protocol upgrades, this time focused on improving transaction finality.
Dubbed ‘Alpenglow’, the update aims to reduce finality times from around 12 seconds to 150 milliseconds. Crucially, the upgrades will replace the network’s Proof-of-History (PoH) and Tower BFT consensus system.
Solaxy is fully up to speed with these proposed improvements. To find out what the Solaxy devs have been up to lately, head over to the website where you will find access to regular updates.
For sure, a Layer 2 is not a trivial undertaking, but Solaxy has already launched its testnet, the block explorer has been live for a couple of months or more, and earlier this week it revealed its new Igniter launchpad will be coming soon.
Solaxy’s Igniter will enable its users to launch their own tokens.
As the latest dev update puts it: “This is more than a launchpad — it’s an ignition system for a decentralized, rollup-native economy.
Solaxy isn’t just Solana’s first Layer 2 — it’s the foundation of a new rollup-native ecosystem. Igniter and full mainnet rollout are just the beginning.” ignition system for a decentralized, rollup-native economy.
ignition system for a decentralized, rollup-native economy.
Solana and Solaxy are the future of decentralized value networks
Solana and Solaxy are the future of decentralized value networks, and that’s an opportunity worth hundreds of billions of dollars when banks start rolling out the tokenization of real-world assets.
To get in on the ground floor of what could be 1,000x returns, connect your crypto wallet on the Solaxy presale site and buy $SOLX with crypto or card.
You can immediately stake your $SOLX tokens, earning a dynamic 101% APY, as mentioned earlier.
For a friction-free experience, download Best Wallet – it provides full visibility of your $SOLX presale allocation and in-app claiming when launch day comes around.
Join the Solaxy community on Telegram and X to stay up to date with development and market news.
The post Solana Price to Blast Past $200 on Bank Adoption, Layer 2 Solaxy Eyes $50m But Could Sell Out Fast appeared first on Cryptonews.
