Solana co-founder Anatoly Yakovenko, better known as Toly, does indeed endorse a lot of Solana crypto-based projects on a weekly basis. To discourage people from following his endorsements, he adds an NFA tag, tells people not to follow him, and typically supports projects without being directly involved. However, people tend to care about his inputs anyway. Therefore, we will take a look at his latest endorsement and predicted market narrative.
🚨BREAKING: SOLANA HAS FLIPPED THE MARKET CAP OF STATE BANK OF INDIA — INDIA’S LARGEST BANK!!!🚨 pic.twitter.com/e0LZBVE1yA
— SolanaNews.sol (@solananew) May 8, 2025
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Toly Ensures Solana Leadership in the Current Crypto Market
As the market is surging and BTC is hitting 6 figures, Solana keeps outperforming L1 chains on all profit and user charts. This is also true for the dead NFT charts, according to a tweet by SolanaNews.
Toly is a big supporter of builders, and his posts hold a lot of value for investors. Last year, any project with a Solana-based coin he shared was sending over 200M in market cap. It was considered a kind of pump and dump, so he doesn’t share projects with coins that much as of late. However, we can still extract some values and narratives.
His most recent endorsements go for the classic DeFi projects, like Backpack, and the relatively new protocol Loopcale. Another post shares that soon there will be a “decentralized NASDAQ,” giving companies the ability to go public on Solana. That’s interesting.
Following ENS steps, SNS, the. Sol ID for addresses is finally releasing its coin. With a generous 40% of the supply will be airdropped to early supporters. He also seems deeply interested in the Time.fun platform and has been shilling it since its launch last year.
Looking at projects that come with Solana coin, the only one is ChainFox, where he retweeted a post. Examining past projects involving coins like $Send and $Griffain will help explain this behavior. Both have lost most of their value since their peak after his shilling.
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Should Toly Support $Solaxy, Solana’s First Layer 2 Solution After Raising $33 Million?
The increasing congestion on blockchains, particularly with Solana, has created a growing need for L2 networks. As we know, Solana has been facing congestion from time to time over the last few months.
As the first-ever Solana Layer-2 blockchain, Solaxy directly addresses Solana’s pain points, congestion, failed transactions, and scalability limitations.
Solaxy aims to offload the burden on Solana and unlock the chain’s full potential for users, developers, and investors alike. Solaxy’s launch coincides perfectly with the renewed interest in the meme coin and the Solana ecosystem.
Solaxy is off to a hot start as a potential low-cap gem, as it can multiply over the years while offering its holders passive income. The presale raised $33.7 million out of $34.5 million. In the current presale round, $SOLX is priced at just $0.001718, and staking offers up to 119% APY. Holders who lock their $SOLX tokens can earn high passive income, and the price of the coin has the potential to multiply over time.
Presales that quickly raise funds and attract numerous investors often see gains of 5x to 10x after launch and typically earn listings on centralized exchanges. Additionally, smart whales tend to accumulate these types of projects silently. Get your position in the presale now by visiting the website.
For the latest updates on the project, connect with the SOLX community on X and Telegram.
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Key Takeaways
- Solana outperforms L1 chains, with Toly endorsing DeFi projects.
- SNS and Time.fun platforms gain attention, while past projects struggle.
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