Ever for the reason that crypto trade gained momentum, Bitcoin ($BTC) and Ethereum ($ETH) are the 2 names which have been dominating the market. Nobody ever managed to return 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 greatest 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 demand for Solana-based meme coins pushes demand for $SOL, which took its worth to an all-time excessive of $263 earlier this yr.
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. At the moment alone its worth went down by 3.6%.
One of many greatest causes for which can be the restrictions of the Solana mainnet. It wasn’t able to deal with the sudden surge in 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 cut back community congestion. Traders may even get pleasure from decrease buying and selling charges due to quicker processing.
Is Solaxy’s New Token Price Investing In?
Solaxy’s Layer-2 community additionally introduces a brand new token referred to as $SOLX. The token is currently on presale and has already raised greater than $6.2M.
One $SOLX is presently obtainable at $0.001582. Nevertheless, the worth will improve step by step earlier than we’ll see the token on exchanges. This implies there shall be no decrease entry level into Solaxy’s ecosystem than now.
Whereas there’s no approach to assure positive factors within the crypto market, analysts expect $SOLX to explode at least 10x. Some trade consultants go so far as to take a position that $SOLX is perhaps the next 100x token owing to its early momentum. Nevertheless, it’s slightly 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 can even pay with a financial institution card, however the transaction charge is perhaps increased.
Keep in mind, all the time do your personal analysis earlier than placing your hard-earned cash in any meme coin. Diversify your portfolio (indexes like $MEMEX can assist you on this) and don’t make investments greater than you’ll be able to afford to lose.