Ever because the 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 because the 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 progress 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 cash 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 value has been on a constant decline since early December. At this time alone its value went down by 3.6%.
One of many greatest causes for which can be the constraints 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 resolution 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 will even take pleasure in decrease buying and selling charges due to sooner processing.
Is Solaxy’s New Token Value Investing In?
Solaxy’s Layer-2 community additionally introduces a brand new token known as $SOLX. The token is at present on presale and has already raised greater than $6.2M.
One $SOLX is at present accessible at $0.001582. Nevertheless, the worth will enhance steadily 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 method to assure beneficial properties within the crypto market, analysts anticipate $SOLX to blow up at the very least 10x. Some trade specialists go so far as to invest that $SOLX could be the subsequent 100x token owing to its early momentum. Nevertheless, it’s a little 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 can even pay with a financial institution card, however the transaction payment could be increased.
Keep in mind, at all times 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 may afford to lose.
