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Solana (SOL) is building momentum once more. Its value is hovering around $165, with analysts predicting a breakout above $180. Fueling some of that optimism is Solaxy, a new project referred to as Solana’s first Layer-2 network. The project’s ICO is currently in its last six days and has already seen over $46 million raised.
Solaxy is a rollup Layer-2 solution developed on Solana. It targets congestion on the Solana mainnet by accumulating transactions off-chain and settling them on-chain. This has the potential to accelerate the network and lower the number of failed transactions, a major issue during previous bull runs.
The presale of Solaxy is gaining momentum. The price of the SOLX token currently stands at $0.00175, and the price goes up every 48 hours. It is reported that staking rewards are going as high as 87% APY for those buying early. With only a week to go, investor appetite is still high.
Solaxy has already rolled out the testnet, bridge, and block explorer. These enable users to try bridging from Solana’s Devnet and play around with early features. Yet more is coming in the form of a decentralised exchange (DEX) and Igniter, a token launchpad designed to compete with the likes of Pumpfun.
Also Read: Best Solana Wallets to Secure Your SOL Tokens Today
While the numbers and roadmap sound promising, not everything is clear. Much of the media coverage surrounding Solaxy appears to be sponsored. The project’s mainnet is not live, and there is no confirmed launch date. Some investors worry that the hype could outpace actual progress.
SOL has posted consistent gains in recent days. Technical charts indicate a likely breakout above $170, with resistance likely around $180–$200. On-chain indicators also indicate higher activity from institutional investors and large holders.
Solaxy’s success would have a direct influence on Solana’s momentum. Solaxy, in the event that it delivers and meets expectations, would scale Solana and bring long-term value to the ecosystem. However, if the project doesn’t live up to expectations, SOL’s rally will fizzle out.
With six days remaining in the Solaxy ICO and Solana near a critical resistance point, the market is keenly observing. This instant may define both Solana’s near-term price and Solaxy’s long-term reputation. Technical indicators are gradually aligning themselves in the cryptocurrency’s favor while investors are optimistic, but guarded.
