The crypto market just can't seem to shake the bad in the past few weeks, and every time it enters recovery mode, it runs into more problems that delete the gains, turning them to losses. The situation is affecting almost all popular altcoin prices, with Ripple's XRP and Solana leading the downtrend in the past few days.

The latest numbers show that investors liquidated over $420 million from the crypto market after the congressional meeting with Fed Chair Jerome Powel following the conclusion that the U.S. inflation is growing faster than expected. Even despite all that, the world's first Solana-based Layer 2 meme coin, Solaxy- continues to push through major milestones. Let's see what's going on in more detail.

Solana and XRP Plunge After Stock Market Closes for Presidents Day

There are only a few days in a year when the U.S. stock markets close, and President's Day is one of them. The 24-hour break from trading often has an impact on digital assets, and today, Solana and Ripple are among the biggest losers. Both blockchains experienced losses on Monday, February 17th, entering a bearish phase that impacted almost all digital assets.

Solana has lost over 10% in the past 24 hours alone, and over 20% in the last week, dropping to a low of $164. The worst part is that it's still losing ground and could decline even further. On the other hand, Ripple's XRP has seen a similar downtrend, falling to as low as $2.56, which is a loss of over 4,55% in the past 24 hours. When compared to its all-time high on January 19th, Solana has lost over 38%, while Ripple tanked by over 22%. 

The situation is very unstable due to increased liquidations, and the bull market is getting further with every hour. In order for the bulls to start running again, SOL needs to reach $220, and XRP needs a price of $3 to turn things around. All is still not lost as both digital assets could achieve these numbers if their ETFs get approved in the upcoming weeks. The tides of crypto regulations are changing in the US, resulting in positive regulations regarding digital currencies. If the ETFs get approved, Solana could reach $360 while XRP could hit $4 in the next three months.

Experienced traders and crypto experts know that and are currently waiting to see the final outcome. Many of them are diversifying their investments into high-gain potential projects bringing something new to the table, and Solaxy is among their favorite choices. Let's see why. 

Solaxy - World's First Solana-Based Layer 2 Meme Coin That Will Change the Industry

In the current bearish market, finding the right investment that has the potential to go against the current can be hard, but Solaxy has shown that it's not slowing down, despite the increasing fear among investors. The newest Solana-based meme coin is also the first of its kind, and is designed to provide an infinite scalable solution that will bring the Solana blockchain to a new level. 

In turn, it will solve Solana congestion problems while providing the lowest fees ever, which could trigger a completely new approach to Solana-based crypto ICOs in the future. However, Solaxy is not only a Solana meme coin, it is designed using cross-chain technology that combines the best features of Solana and Ethereum, creating a highly versatile meme coin that has the power to change the entire industry for good. Of course, that alone is enough to give it potential among experienced crypto investors, which is the main reason why the project has raised over $22 million in the ongoing presale. 

Moreover, early investors are able to stake their $SOLX tokens immediately after buying them for an APY of over 180%, with rewards that will be given out over the next 3 years.

$SOLX Presale Among The Leading ICOs This February

The ongoing $SOLX token presale has raised over $22 million so far, and is growing at a rate of around $500K every day. The event has been live for around a month and a half, and is currently among the most successful meme coin presales on the market. 

With excellent tokenomics, staking rewards of over 180%, a growing crypto community of nearly 70K followers on X, and mentions by popular crypto YouTubers like ClayBro, 99Bitcoins and many others. 

Final Words

The crypto market is currently in a downtrend, but the negative price movements won't last forever. In fact, the current dip gives you a perfect chance to buy the dip and earn high returns when the market finally recovers. XRP and SOL are among the biggest losers, which means they will potentially be among the highest gainers in the next few months, but if you're looking for a digital asset that is almost guaranteed to explode on release, Solaxy is by far your best option.

Investors who want to join the growing Solaxy community can visit the official site and buy $SOLX tokens early for as little as $0.001638.