Crypto enthusiasts are eagerly watching Solaxy (SOLX) as it enters the final few days of its presale, raising over $500,000 in just 24 hours to reach a total of $48.7 million. Solaxy reached this impressive milestone despite a brief wobble in the broader crypto markets caused by geopolitical tensions, including Israeli airstrikes on Iran. Solana (SOL), one of the blockchain industry’s top smart contract platforms, saw its native crypto’s value drop over 14% from its June 12 high in the aftermath of the news and broader market volatility.
Even in the face of this bearish price move, Solana’s network remains fundamentally strong, generating millions of dollars in on-chain revenue thanks to the explosive usage of meme coin applications.
Amid this environment, Solaxy is emerging as Solana’s first Layer 2 solution to ease congestion and boost performance. It aims to turbocharge Solana’s throughput and prevent the slowdowns seen during peak traffic – a mission that has attracted market-wide investor attention as SOLX’s presale funding surges toward the $50 million mark.
Solaxy’s presale has entered its final stage and closes in three days, giving early adopters a last chance to secure SOLX at a limited and exclusive price of $0.001756 before the project’s mainnet goes live.
Solana Volatility Sparks Concern, but Institutional Confidence Remains Strong
SOL has experienced relatively high volatility over the past few days, partly driven by the announcement that Pump.fun – the most popular (and controversial) meme coin launchpad on Solana – is aiming for a $4 billion valuation through a potential token sale worth $1 billion. This news unsettled some traders, prompting sharp price declines across SOL and several tokens previously launched via Pump.fun.
This latest volatility episode also highlights the need for more reputable launchpads, and comprehensive support ecosystems that address Solana’s pain points.
However, the market’s overall long-term confidence in Solana has remained intact despite these price fluctuations, as institutional players have been doubling down on the SOL crypto. For example, DeFi Development Corp., the first Nasdaq‑listed company to hold SOL on its balance sheet, is gearing up to raise $5 billion (through equity) to expand its SOL holdings.
1/ Today, we announce that DeFi Development Corp. (Nasdaq: $DFDV) has secured a $5 BILLION equity line.
This gives DFDV the flexibility to raise capital when it’s most strategic, fueling continued accumulation of $SOL and accelerating growth in $SOL Per Share (SPS). pic.twitter.com/3ep3QxuRTT
— DeFi Dev Corp. (@defidevcorp) June 12, 2025
In the meantime, Fabian Dori (the Chief Investment Officer at Sygnum Bank) noted that institutions have become even more interested in the Solana ecosystem recently. Solana’s vibrant DeFi scene, comprising everything from decentralized exchanges (which have brought in more than $1 trillion in trading volume this year so far) to token launchpads like Pump.fun (with almost $750 million in cumulative revenue since it launched in 2024), also makes the L1 a natural target for institutional DeFi activity.
These developments suggest that short-term dips haven’t shaken investors’ long-term conviction in Solana. If anything, they make the case for infrastructure improvements – and this is where Solaxy enters the conversation.
Many crypto experts have stated that a Layer 2 like Solaxy could be the infrastructure play that helps Solana convert heightened usage into sustainable growth. By expanding Solana’s capacity, Solaxy could restore confidence that Solana’s network can handle future booms without disruptive hiccups.
Solaxy Combines Rollup Architecture With Developer-Ready Tools
At its core, Solaxy will provide a new scalability layer on top of Solana. It will bundle transactions off-chain (on the Solaxy network) and then submit them in batches to Solana’s Layer 1 for final validation. This approach drastically reduces the load on the main chain, cutting fees and preventing backlogs.
The project’s development team has already rolled out key components on a live public testnet, showing its commitment to shipping real technology. Using Hyperlane’s protocol, Solaxy is also putting the finishing touches to a bridge that lets users move native SOL between Solana’s devnet and the Solaxy testnet.
Solaxy also plans to create a further bridge to Ethereum, allowing Ethereum users to access Solaxy’s applications directly without going through the Solana mainnet.
🚨 Hey Solaxy Community, we’re thrilled to announce our collaboration with @hyperlane to deliver one of Web3’s most seamless bridging experiences.
Solana ↔️ Solaxy ↔️ Ethereum. Fast, modular, permissionless.
Together, we’re building the first true Layer 2 bridge for Solana… pic.twitter.com/Jfk2GJUUD3
— SOLAXY (@SOLAXYTOKEN) June 10, 2025
Moreover, a dedicated Solaxy block explorer is live on the testnet – so users and developers can monitor L2 transactions, blocks, and activity in real time. Solaxy’s toolkit is designed to work with Solana’s existing developer stack, so devs can deploy smart contracts to Solaxy using familiar tools.
One of Solaxy’s most anticipated features is its Igniter Protocol – a first-of-its-kind token launchpad embedded onto Solana’s new Layer 2. If you want to launch a meme coin or community token, Igniter lets you do it in seconds (without the need to code). Once the platform goes live, every token launched via Igniter will automatically be listed on Solaxy’s upcoming DEX.
To boost investor and user confidence in these systems, the team has launched a $25,000 bug bounty (via the Cantina platform) that will run until June 30. The bounty invites developers to stress-test Solaxy’s code for any critical vulnerabilities.
SOLX Presale Nears $50 Million With Massive Token Burn – Only 3 Days Left to Join
With over $48.7 million raised so far, Solaxy’s presale is not only one of the biggest on Solana but also one of the largest token sales of the year across any chain.
The project has already implemented an aggressive tokenomic strategy, burning over 35 billion SOLX tokens (over 25% of the total supply) ahead of the crypto’s exchange listings. This burn, worth roughly $62 million at SOLX’s current presale price, has immediately increased the scarcity of the remaining tokens.
As Solaxy’s momentum shows no signs of slowing, all eyes are now on the presale countdown. Investors have just three days to buy SOLX at the last-minute presale price of $0.001756. After June 16, the token sale will close – and SOLX will start preparing for its debut on major exchanges.
Prospective buyers can head to Solaxy’s official website and connect a compatible wallet (like Best Wallet) to participate. Investors can stake their SOLX holdings through Solaxy’s dedicated smart contract, earning passive rewards at APY rates of up to 84% before the token hits the market.
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