Solaxy Surges with $6M+ Trading Volume Post-DEX Launch as Solana Jumps 7%
Solaxy (SOLX) Launches Successfully, Surpassing $6 Million in Trading Volume
Solaxy’s Impressive Debut: A Surge in Trading Activity
In just a day since its launch, Solaxy (SOLX) has captured significant attention in the crypto community, following its introduction on Uniswap and Raydium. The Solana Layer-2 token has experienced a remarkable trading volume exceeding $6 million within the first 24 hours, alongside a notable 60% increase in its price, attracting a wave of new investors.
As the cryptocurrency market shows signs of recovery, with Solana’s value climbing over 7%, SOLX is quickly becoming a standout altcoin that traders are eager to monitor.
A Strong Start: $6 Million in Volume and Growing Holder Base
Solaxy has proven its worth right from the start. After launching yesterday, the SOLX token initially faced a minor dip as early investors took profits. However, it rebounded swiftly, currently trading at approximately $0.001113, reflecting a 60% increase compared to its launch price. Across both Uniswap and Raydium, trading activity has already surpassed $6.4 million, with a strong inclination towards buying among wallets.
The presale for SOLX concluded yesterday, raising over $58 million, marking it as the largest presale event on the Solana network to date. Even prominent crypto investors participated before the presale’s conclusion. Additionally, the Solaxy team took proactive measures by burning 55 billion tokens prior to launch, eliminating 40% of the total supply, and enabling token claims right as trading commenced. The bridge connecting Solana, ethereum, and Solaxy is now operational, resulting in over 29,000 holders across both blockchain networks. This momentum has also helped Solaxy amass 73,000 followers on X (formerly Twitter).
Understanding Solaxy: The Hype Behind the Token
Solaxy is designed as a Layer-2 solution aimed at enhancing the scalability of the Solana network, particularly during peak trading periods when congestion is common. By managing most of the transaction load off-chain, Solaxy allows the Solana mainnet to operate more efficiently.
Utilizing rollup technology akin to that of Arbitrum and Optimism, Solaxy processes transactions off-chain and subsequently batches them for settlement on Solana. This innovation promises faster transaction speeds, reduced fees, and a decrease in failed transactions during high-traffic times. Furthermore, Solaxy’s bridge to ethereum enables users to benefit from Solana’s speed while tapping into ethereum‘s liquidity. The SOLX token plays a crucial role in governance, staking, and transaction fees, while also offering flexibility for developers to create tailored solutions for DeFi, gaming, and more. Experts from Cryptonews have already labeled it a potential “10x project.”
What Lies Ahead: Solaxy’s Ambitious Roadmap for 2025
If you thought the launch of SOLX was the highlight, there’s much more to anticipate. The Solaxy Wiki is set to go live on June 29, providing developers and validators with in-depth insights into the network’s technology. Staking rewards will be available starting June 30 for those who secured their tokens during the presale.
The mainnet is scheduled to launch on July 7, introducing scalable, low-cost transactions, a block explorer for tracking activities, and a direct bridge for asset transfers between Solaxy and ethereum. Following that, on July 14, the Neptoon DEX will debut, offering users a native platform for trading tokens on Solaxy. Finally, on July 21, the Igniter Protocol will be unveiled, simplifying the process of launching new meme coins.
With enhancements aimed at reducing congestion, increasing transaction speeds, and providing tools for developers, Solaxy is poised to strengthen the Solana ecosystem for the future. This is why the recent SOLX token launch has garnered such positive reception. Currently, SOLX can be traded on Uniswap and Raydium, with additional centralized exchange listings expected soon.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
