Ever for the reason that crypto trade gained momentum, Bitcoin ($BTC) and Ethereum ($ETH) are the 2 names which were dominating the market. No one ever managed to come back shut. But 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, in the 727 days for the reason that FTX collapse, $SOL outperformed each $BTC and $ETH on 344 days.
Similarly, in that timeframe, $SOL has witnessed extra capital influx than each $BTC and $ETH.
One of the largest causes behind this sudden development is the rise in meme coin exercise on the Solana blockchain.
$SOL powers all these meme coin transactions. This implies that demand for Solana-based meme coins pushes demand for $SOL, which took its worth to an all-time excessive of $263 earlier this 12 months.
But $SOL Is Down 22% So Far. What Does This Mean?
Despite outperforming each $BTC and $ETH, $SOL’s worth has been on a constant decline since early December. Today alone its worth went down by 3.6%.
One of the largest 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.
This is the place Solaxy comes in – a brand new layer-2 scaling resolution for Solana that addresses all the issues of the primary community.
Simply put, it goals to dump a part of the transactions from Solana to scale back community congestion. Investors can even get pleasure from decrease buying and selling charges because of quicker processing.
Is Solaxy’s New Token Worth 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 out there at $0.001582. However, the worth will improve step by step earlier than we’ll see the token on exchanges. This means there can be no decrease entry level into Solaxy’s ecosystem than now.
While there’s no approach to assure beneficial properties in the crypto market, analysts expect $SOLX to explode at least 10x. Some trade specialists go so far as to invest that $SOLX may be the next 100x token owing to its early momentum. However, it’s somewhat too quickly to say that with confidence.
A Solaxy Full of Opportunities
To be a part of 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 may be increased.
Remember, at all times do your individual analysis earlier than placing your hard-earned cash in any meme coin. Diversify your portfolio (indexes like $MEMEX may also help you in this) and don’t make investments greater than you’ll be able to afford to lose.
