After co-founding Venmo and Ense, New York-based entrepreneur Iqram Magdon-Ismail launched JellyJelly earlier this year—a social media platform centered on video chats. The platform recently integrated its own cryptocurrency, the JellyJelly token, which was initially used to raise funds. Magdon-Ismail called the move a net positive for the project.
Big news: thrilled to announce our partnership with YDB whose final tour with @WuTangClan begins this summer. Catch him on JellyJelly: Video Chats! 🪼🪼🪼 #JellyJelly 🤝 YBDhttps://t.co/8aMI3rzkEN
— JellyJelly: Video Chats 🪼 (@jellyvideochats) April 23, 2025
The core vision of JellyJelly is to provide a platform where creators can share raw and unedited moments of their video conversations with AI features that automatically caption and summarize these clips. This approach aims to eliminate the need for manual editing.
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Instead of following the traditional startup model and raising funds via venture capital, Iqram decided to launch the JellyJelly token on Solana to raise money and utilize crypto and blockchain. This approach gained a lot of traction, and the token hit an all-time high of 250M market cap within a few hours of its launch, with big-name figures like Toly also supporting the project and its vision and the way it raised funds.
However, the hype quickly faded. As for the next months, the coin continued to fall alongside the market, hitting an 8 million market cap, a 96% loss in value from its all-time high. Despite this, the company continues providing updates and hosting weekly spaces on X.
These efforts, along with integrating the token into the platform, are likely keeping alive, recently pumping back to a 40M market cap. It’s most likely surging due to the change in the market sentiment and the big names involved in the project, like Iqram and Sam Lessin, who was also a seed investor in Venmo and a former product manager at Facebook.
As long as these names keep building, there will always be this sense of trust from the community due to their extensive experience. Jellyjelly coin will continue to pump or dump depending on the updates. Given the nature of the market right now, it’s one of those high-risk, high-reward tokens.
The app itself is yet to see significant success. According to Iqram Ismail, the launch resulted in 10,000 signups for the app in a single day. However, the app’s current success is not fully visible on the App Store, where it’s solely available. With the company’s current search for Android developers, it is likely to see a new Android client in the near future.
Android, anyone? 🪼 https://t.co/eTSo7dc36N
— JellyJelly: Video Chats 🪼 (@jellyvideochats) April 28, 2025
(SOLX) Solaxy: the First-ever L2 Startup For Solana
With JELLYJELLY still being a good buy after its launch and initial huge success, Solaxy, on the other hand, is another project launching on presale and finding huge success, raising $32.6 million out of $33.6 million.
As we know, Solana has been facing congestion from time to time over the last few months, and the bull market slightly approaching will make this problem bigger. 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. Given the renewed interest in the meme coin and the Solana ecosystem, it comes at the perfect time.
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. In the current presale round, $SOLX is priced at just $0.001712, and staking offers up to 123% APY. Holders who lock earn high passive income, while the coin price can multiply over time.
Also, presales that raise funds quickly and attract many investors often see gains of 5x-10x after launch and tend to earn listings on centralized exchanges. And usually, smart whales accumulate these kinds 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.
Click here to learn more about the project and participate in the presale.
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Key Takeaways
- JellyJelly is a social platform that is backed by big names.
- The recent surge shows a change in market sentiment.
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