Jupiter (JUP) is struggling. The project has seen a concerning downturn, falling 8% today and over 16% in the past week, as Solana traders begin rotating into what some are calling the best Solana crypto right now.
The community is clearly upset. Jupiter is hovering near a critical support level around $0.47, and technical indicators point to a continued downtrend. If it fails to hold this zone, the next major support sits at $0.33, a level last visited in early 2024.
(JUPUSDT)
This selloff comes despite recent developments in the Jupiter ecosystem, such as the DAO vote to formally integrate JUP & JUICE Media Studio. Despite its dominance in Solana’s DeFi space, controlling 95% of DEX aggregator market share, Jupiter has drawn significant community backlash. Holders criticize weak management, poor communication, and questionable tokenomics, with some alleging the team prioritizes personal gains over community interests.
The lack of a clear airdrop strategy, unlike competitors like Hyperliquid, has fueled discontent, with users feeling neglected despite high trading fees paid.
While the project remains active, traders appear to be reallocating capital, particularly toward newer, infrastructure-focused projects within the Solana ecosystem.
$JUP down the hardest of ALL other tokens in the top 100 in the last 24 hours. This is the consequence of giving everyone and their mom excessive amounts of JUP for nearly nothing. Think before you vote my fellow DAO contributors. There’s still time to change your vote. pic.twitter.com/YdJ6uWtmje
— Patrick Hayes (@PatrickHay52093) June 5, 2025
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Why Solaxy (SOLX) Could Be The Best Solana Crypto To Bid In June
As JUP loses momentum, attention is turning to Solaxy (SOLX), a new project that’s positioning itself as the best Solana crypto going into the second half of 2025. With only 10 days left in its presale and over $44.8 million raised, Solaxy is gaining strong support from traders looking for the next big play in the Solana space.
The core idea behind Solaxy is simple but impactful: it’s building the first Layer 2 blockchain on Solana, designed to ease network congestion and increase speed. This comes at a time when Solana’s activity is surging. 101 million users interacted with the chain in the last month alone, a 23% jump that’s pushing the network to its limits.
Solaxy introduces off-chain computation and transaction bundling, aiming to lift Solana’s throughput from 6,500 TPS to 10,000 TPS. For developers and users, this could mean lower costs, faster interactions, and more reliable performance, especially during peak periods.
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Could SOLX Really Hit 1,000x Post Launch?
Some traders believe the upside for SOLX could be significant. Solana itself is now worth more than $80 billion, while Solaxy, which aims to directly improve its performance, has raised just a fraction of that.
Even meme coin platforms like Pump.fun are targeting billion-dollar valuations, despite offering limited functionality. Solaxy, by contrast, is launching its own DEX, a smart contract-ready testnet, and the Igniter Protocol, a meme token launchpad with broader utility.
Solaxy’s infrastructure focus also aligns with rising institutional interest in Solana. Firms like BlackRock and Franklin Templeton are watching the space, but persistent network congestion remains a major barrier. Solaxy’s solution directly addresses that concern, which is one reason analysts are watching it closely.
Solaxy is in its final presale phase, with the token priced at $0.001748. To take part, visit the Solaxy website, connect your wallet, and select the cryptocurrency you’d like to use. Both Ethereum and Solana are supported.
With just days remaining and the mainnet debut approaching, Solaxy is on track to become one of the most closely followed Solana-based projects this year.
Whether it delivers on the more ambitious price targets remains to be seen—but the fundamentals, timing, and traction are hard to ignore.
Key Takeaways
- Jupiter faces sharp decline. JUP dropped 16% in a week, hitting critical support amid community frustration over governance, communication, and tokenomics.
- DAO progress fails to lift sentiment. Despite moves like the JUICE Media Studio integration vote, traders remain disillusioned and are shifting capital elsewhere.
- Solaxy gains momentum as best Solana crypto. With over $44.8 million raised and only 10 days left in its presale, Solaxy is emerging as a serious ecosystem contender.
- Solaxy tackles congestion with Layer 2 solution. Solaxy aims to boost Solana’s throughput to 10,000 TPS using off-chain computation, appealing to both developers and institutions.
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