Next Successor to Solana? New Layer 2 Platform Raises $37 Million

In what’s turning out to be one of the hottest ICOs of the year, Solana’s only Layer 2 platform, Solaxy (SOLX), has raised over $37 million. After SOLX attracted over $1 million in fresh capital during the past 48 hours, it’s clear that investors are still bullish on the AI and meme coin crossover sector.

A few market commentators are questioning whether Solana really needs a Layer 2, but anyone who uses the Solana (SOL) Layer 1 chain knows it has faced scalability issues and occasional downtime. These are big red flags that can scare off institutions and larger buyers, who generally avoid systems that might buckle under the weight of extreme transaction volumes.

Numerous analysts and firms like VanEck are backing Solana’s growth toward the psychological $500 level. However, to realistically hit this goal, Solana’s L1 will need to start tackling its congestion issues.

Therefore, a Layer 2 solution like Solaxy is fundamental to SOL’s long-term growth. As the first L2 for Solana, Solaxy is designed to handle network congestion by offloading excess transaction volume, allowing Solana’s main chain to stay lightning-fast and reliable even during intense demand spikes.

The current SOLX token price is $0.001726—and with the presale’s pace accelerating, investors might not have much time left to participate before the token sells out.

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Solana Forecast to Hit $520 by 2025 as Institutional Interest Surges

One reason Solaxy has gained so much attention is the bullish outlook for Solana itself. The investment management firm VanEck has even predicted that SOL will reach $520 by the end of 2025.

This ambitious price target is based on several factors. VanEck’s modeling suggests that Solana’s slice of the smart contract platform (SCP) market could jump from roughly 15% to 22% in the next six or seven months. With the total SCP market cap possibly hitting $1.1 trillion (up 43% from current levels) by the end of December, Solana would represent a bigger chunk of an even bigger pie.

Moreover, Solana has seen a jump in new decentralized applications (dApps), plus rising user adoption for its DeFi and NFT ecosystems.

Meanwhile, multiple firms like Bitwise and Canary Capital have filed for Solana-focused ETFs. If approved, these funds would give major investors a convenient onramp, potentially boosting demand for SOL.

Also, DeFi Development Corp (DFDV), a NASDAQ-listed company, has even tied executive compensation to “SOL Per Share (SPS)” performance rather than traditional metrics. Pairing that move with the rumored Solana ETFs in the pipeline, it’s becoming obvious that big players are betting on SOL to challenge Ethereum’s dominance in the coming years.

However, skeptics argue that Solana’s history of network slowdowns could undermine that growth narrative. That’s why smart investors are backing Solaxy, which will be a game-changer if it can keep Solana’s network stable under heavy usage—and ensure it can truly scale to meet demand.

Why Solaxy Could Power Solana’s Next Growth Phase

For Solana to reach fresh all-time highs and maintain its impressive throughput, it needs a way to avoid the traffic congestion that’s almost paralyzed the chain’s operations on multiple occasions. Solaxy introduces a rollup-based Layer 2 solution that processes transactions in parallel to Solana’s mainnet, then organizes them into bundles before sending the final data back to the L1.

This setup means that Solana can still deliver transactions at a fraction of a cent, even if usage spikes during the next bull run or a major NFT mint. By keeping fees low and speeds high, Solaxy positions Solana to attract more DeFi, gaming, and NFT projects—which will each drive additional transaction volume.

Developers have already begun testing Solaxy’s bridging functionality on test networks. The official “Solaxy Bridge” release will let users move tokens between Solana and Solaxy easily—a key milestone that the team highlighted on X:

Crucially, Solaxy’s success is directly tied to Solana’s growth. Every new dApp and user that arrives on Solana’s blockchain could also generate more activity on Solaxy, pushing up the utility (and potentially the value) of SOLX.

How to Buy Solaxy Tokens Before the Presale Sells Out?

Solaxy’s presale has been gaining momentum, and large investors are making big moves. One wallet recently spent 150 ETH (about $400,000) on SOLX, betting on the growth potential of a Solana L2 solution.

To secure tokens before the presale ends, you can visit Solaxy’s presale portal. You can use popular wallets like Best Wallet and buy SOLX using cryptos like ETH or USDT.

Follow the on-screen instructions to buy SOLX at the current presale price of $0.001726. Right after purchasing, you can stake your SOLX tokens for up to a dynamic 111% APY.

Visit Solaxy Presale

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Nikolay

Nikolay is a crypto enthusiast, with a keen interest in emerging technologies and investment strategies. He holds active positions across various crypto exchanges, regularly analyzing and investing in promising new projects and meme cryptos. Nikolay is known for his ability to take calculated risks and extract value from unconventional investments, with his highest return being 13X with the $PEPE token. His investment philosophy includes a strategic approach focused on long-term growth, supported by in-depth research of market trends and innovations in crypto and blockchain technologies. Niki actively monitors global market changes and has a deep understanding of cryptocurrency mechanisms and their potential for development.