Ever for the reason that crypto trade gained momentum, Bitcoin ($BTC) and Ethereum ($ETH) are the 2 names which were dominating the market. Nobody ever managed to come back shut. However the tables turned in 2022. For the primary time ever, Solana ($SOL) has managed to beat each in a number of areas.
$SOL skilled an all-time low in 2022 with the collapse of FTX. Since then its worth grew by 2,000%. As per a Glassnode report, within the 727 days for the reason that FTX collapse, $SOL outperformed each $BTC and $ETH on 344 days.
Equally, in that timeframe, $SOL has witnessed extra capital influx than each $BTC and $ETH.
One of many largest causes behind this sudden development is the rise in meme coin exercise on the Solana blockchain.
$SOL powers all these meme coin transactions. Which means that demand for Solana-based meme cash pushes demand for $SOL, which took its worth to an all-time excessive of $263 earlier this 12 months.
However $SOL Is Down 22% So Far. What Does This Imply?
Regardless of outperforming each $BTC and $ETH, $SOL’s worth has been on a constant decline since early December. In the present day alone its worth went down by 3.6%.
One of many largest causes for which can be the restrictions of the Solana mainnet. It wasn’t able to deal with the sudden surge in site visitors, which led to congestion and slower transactions.
That is the place Solaxy is available in – a brand new layer-2 scaling answer for Solana that addresses all the issues of the primary community.
Merely put, it goals to dump a part of the transactions from Solana to scale back community congestion. Buyers may also take pleasure in decrease buying and selling charges because of quicker processing.
Is Solaxy’s New Token Value Investing In?
Solaxy’s Layer-2 community additionally introduces a brand new token referred to as $SOLX. The token is at present on presale and has already raised greater than $6.2M.
One $SOLX is at present obtainable at $0.001582. Nonetheless, the value will improve regularly earlier than we’ll see the token on exchanges. This implies there will likely be no decrease entry level into Solaxy’s ecosystem than now.
Whereas there’s no strategy to assure features within the crypto market, analysts anticipate $SOLX to blow up at the least 10x. Some trade specialists go so far as to invest that $SOLX may be the subsequent 100x token owing to its early momentum. Nonetheless, it’s a bit too quickly to say that with confidence.
A Solaxy Filled with Alternatives
To hitch the $SOLX presale, go to the official Solaxy web site, join your pockets, and pay with $ETH, $BNB, or $USDT. You too can pay with a financial institution card, however the transaction price may be increased.
Bear in mind, all the time do your individual analysis earlier than placing your hard-earned cash in any meme coin. Diversify your portfolio (indexes like $MEMEX might help you on this) and don’t make investments greater than you’ll be able to afford to lose.