Solana price could surge in the coming weeks. After rallying to $295, will a new Solana layer-2 platform drive SOL price growth in Q1 2025?
Solana has been on an absolute tear in January. Last weekend, it topped $295 for the first time following the launch of the TRUMP and MELANIA meme coins on the platform.
However, that was not all. Solana is emerging as a favorable host for meme coin issuers, thanks partly to its growing reputation as a place where tokens can be listed and gain quick liquidity.
Beyond this, institutional developments favor the coin. At this pace, considering Ethereum’s internal strife, it may become one of the most valuable coins, second only to Bitcoin, in the months to come.
What’s Going On With Solana Price?
After the crash in 2022 following the collapse of FTX and Alameda Research, SOL has been on a steady recovery.
Fanned by the resurgence of meme coin activities, especially in 2024, thanks partly to the pump.fun launchpad, Solana is undoubtedly one of the top performers. It has outperformed Bitcoin in two years and could extend gains in 2025 based on current candlestick arrangements.
At spot rates, the coin is firm above $240. Even though there is rejection from the $295 and $265 zones, the uptrend from Q4 2024 remains intact.
Technically, the short-term floor is at $230.
(SOLUSDT)
Still, buyers must reject all bearish pressure and push above the January 18 highs of around $270. This will provide the necessary momentum for the coin to fly above $300 in a buy-trend continuation formation.
The parabolic breakout will be stronger should crypto prices trend higher and Bitcoin soar past $110,000. Considering the favorable price action of the SOL/USDT chart, SOL can easily reach $400 in this leg up.
New Solana Layer 2: Will Solaxy Be The Savior?
While every uptick in SOL prices would likely strain the mainnet due to surging demand, it means platforms seeking to offer solutions will likely benefit.
One of them, Solaxy (SOLX), aims to build a Layer-2 scaling solution for Solana.
The mission is simple: relieve the base layer from the high demand, just like Ethereum did, drastically lowering fees using Arbitrum and other solutions.
Solaxy bundles transactions off-chain but processes them on the Solana network, keeping fees low and the network stable.
In this way, the Layer-2 solution will effectively make Solana more resilient and robust. As such, the network will remain operational without congestion even when there is heightened demand for meme coins.
Because of Solaxy’s offerings, over $13.6 million has been raised in the ongoing presale. For now, SOLX is changing hands for just $0.001612. However, prices will increase in the next presale stage.
Presale investors can also stake, receiving a 280% APY. Over 4.1 billion SOLX have been locked so far.
On YouTube, analysts are upbeat and confident that SOLX can easily outperform Solana (SOL). This outlook is despite the popular altcoin being favored by technical candlestick formation and other external factors.
Join the project’s community on X and Telegram to stay updated on its latest developments.
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