Solana layer 2 blockchain Solaxy ($SOLX) is set to close its fundraising efforts after raising a staggering $38 million at presale.
It has made Solana history books its largest presale ever, creating an immensely exciting outlook for once $SOLX launches on exchanges.
Solaxy aims to solve Solana’s congestion issue, which leads to longer wait times and increased rates of transaction failures during periods of peak network activity.
With crypto prices showing immense strength this month, it’s clear that the bull market is getting back on track. As such, concerns are resurfacing among Solana stakeholders that its congestion issue will soon return.
Solaxy offers a helping hand here, so investors are pouring funds into the presale. It’ll equip the Solana ecosystem with an additional 10,000 transactions per second (TPS), which could help it function flawlessly even amidst peak bull market excitement.
But now is the final chance for investors to buy $SOLX at presale. The presale price is available at a fixed price of $0.00173. However, those who miss the presale could end up paying a much higher price once $SOLX lists on exchanges.
Solaxy raises $1 million in one day
Just one day ago, the Solaxy community was celebrating the presale raising $37 million. However, after the team announced that the presale would soon end, investors were exposed to a new sense of urgency, and the presale raise surged $1 in 24 hours.
This signals that the presale is about to start skyrocketing.
We’re going interstellar! 🛸
38M Raised! 🔥 pic.twitter.com/udfUBJ0GBC
— SOLAXY (@SOLAXYTOKEN) May 20, 2025
And if history is anything to go by, it also means $SOLX could see huge gains once it lists on exchanges. Look back to Q4 of 2024 and you’ll see a near-identical story on Ethereum.
Ethereum layer 2 blockchain Pepe Unchained announced the closure of its presale after raising $30 million. 28 days later, the presale had raised a staggering $72 million.
It took four months for Pepe Unchained to raise its first $30 million, but just a couple of weeks to raise its second. Now, it appears the same is happening for $SOLX.
And what happened once Pepe Unchained was listed on exchanges? Its price skyrocketed, and some presale investors generated 10x gains in a few days.
Yet, it did all this when there were already dozens of Ethereum layer 2 blockchains on the market. In contrast, there will only be one Solana layer 2, Solaxy. For that reason, experts think it could gain even more.
For instance, Alessandro de Crypto says it could give 100x gains after listing on exchanges.
In the last month, we’ve seen Solana meme coin Moo Deng experience a 10x rally, and Launch Coin on Believe do a 70x.
However, both of these projects offer arbitrary value to Solana in comparrison to what Solaxy offers. This signifies that Alessandro de Crypto’s 100x target should not be ruled out.
Solaxy launches test network, unveils token launchpad
One of the most exciting things about Solaxy is that its team is building in public.
They’re publishing bi-weekly developer updates for technologically curious community members, and they’re also launching features in real-time.
The project successfully implemented its test network last month which completed over 1 million transactions.
This week, the project broke new ground yet again. It unveiled “Igniter Protocol,” a token launchpad that’ll allow $SOLX holders to create their own tokens.
As mentioned, Launch Coin on Believe did over 70x this month. That project allows people to create their own tokens.
Radium has also seen a massive demand surge due to its LaunchLab feature, which allows users to do the same.
But the current king of the token launchpad space is Pump.fun, a two-click meme coin generator that has earned over $700 million in revenue since 2024.
However, with Solaxy, the Igniter Protocol comes built into the blockchain’s in-house toolkit, helping foster a more integrated and accessible user experience. It could democratize token creation in a way we’ve never seen before, expediting the growth of the Solaxy ecosystem.
That’s not to mention the potential revenue that could be generated – just look at Pump.fun for reference. This revenue could be reinvested into expanding the Solaxy ecosystem, making it even more robust over time.
Last chance to buy $SOLX before IEO
The Solaxy presale countdown says there are 27 days left until the campaign ends. Yet with the project raising $1 million in the last 24 hours, there is every chance that investors will absorb the entire $SOLX supply before the presale end date is reached.
If this happens, it will force an early closure of the presale and cause many investors to miss out. As such, traders should act fast to secure their share of $SOLX tokens.
Follow Solaxy on X or join its Telegram for updates. Alternatively, visit its website to buy and stake tokens.
Disclaimer: This media platform provides the content of this article on an "as-is" basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@coincentral.com
