World’s First Solana Layer 2 Smashes $20M in Presale Funding After Major Update

All eyes are on Solaxy ($SOLX), the world’s first-ever Solana layer 2 scaling solution, which has now hit $20M following major presale funding updates.

Solaxy ($SOLX) has only been in its presale for a little under two months but has already raised a total of $20 million.

The first Layer-2 solution on Solana has surpassed this funding milestone, following a series of announcements on X detailing the developer upgrades demonstrating how Solaxy is building a more scalable and interconnected blockchain ecosystem, enhancing speed, security, and seamless interaction across various blockchains.

These developments, even before the official launch, strongly indicate the project’s serious approach to addressing the persistent challenges faced by its Layer-1 chain.

This is why the project has raised over $2.4 million in just the last week, putting its daily run rate at $350,000. Investors can still participate in the current presale stage, which offers $SOLX tokens at $0.0011632, with approximately 20 hours left.

Trump Meme Coin Set Stage For Solana ETF Decision To Skyrocket SOL Price in 2025

Solana’s price has been rocky over the past seven days, three weeks after reaching its all-time high of $293.

While some are betting that Solana could hit $400 this month, backed by SOL options block trades executed on Deribit through the OTC network Paradigm, it seems like a long shot considering SOL’s volatility and how it’s been fluctuating around the $200 mark.

Solana Price: SOL Live Price Chart, Market Cap & News Today | CoinGecko

It’s possible that another Solana-based narrative—such as a fresh wave of Trump-family-related tokens—could trigger a price spike similar to previous surges. For instance, a Barron Trump meme coin, which many fake tokens on Pump. Fun have been mimicking, might create enough excitement to drive SOL’s price higher.

However, it doesn’t have to rely solely on another POTUS-themed craze. Approval of a Solana-based ETF could also spark a significant price movement, especially after the SEC acknowledged Grayscale’s Solana and Litecoin ETF application and BlackRock’s proposal to allow for in-kind creations and redemptions on the iShares Bitcoin ETF.

🚨BREAKING: Bloomberg's senior ETF analyst @JSeyff puts the odds of a Solana ETF getting approved at 70%.. pic.twitter.com/yuLw5XGRG3

— SolanaFloor (@SolanaFloor) February 10, 2025

If all of these developments happen in one month, SOL’s price could skyrocket. 

Still, the major challenge remains Solana’s scalability issues, which could result in network congestion, as we saw last month with Official Trump (TRUMP) and Official Melania (MELANIA).

But that is all about to change with Solaxy, and the dev updates it announced last week indicate how it is taking major steps to prevent another faux pas for those who tout Solana’s ‘Ethereum Killer’ status.

Solaxy’s Latest Developer Update

Indeed, Solaxy is serious about its goal of enhancing Solana’s current infrastructure by solving its persistent problems, and the developer upgrades it announced last week are evident steps towards achieving that goal.

In its initial thread of updates, Solaxy shared that it is making major strides with its rollup infrastructure, including focusing on state transition functions, sequencer implementation, and running Solana’s virtual machine inside a zkVM for enhanced scalability and privacy. 

(Source)

Rollups, a Layer-2 scaling solution, process transactions off-chain, and store data on-chain, reducing congestion and increasing throughput. These improvements aim to enhance transaction processing and ensure long-term growth.

Solaxy is advancing its Layer-2 vision by working on a bridge to Solana. Having completed the research phase, the team is now moving into the implementation and testing stages. Additionally, the team is integrating data availability solutions with Celestia, a modular blockchain that separates consensus and execution layers for enhanced scalability, while collaborating with Sovereign Labs to optimize security and speed.

To further refine its bridging capabilities, Solaxy has partnered with Hyperlane to enable secure asset transfers between Solana and Ethereum. Internal tests are already underway. The integration of Sovereign Labs’ rollup framework, including the SVM inside a zkVM, is also progressing smoothly.

In parallel, Solaxy is deploying a development rollup environment for rigorous testing and conducting benchmarks on Solana’s mainnet to ensure system stability.

What Does The Latest Solana Dev Upgrade Mean For Solaxy Investors?

Investing in Solaxy during its presale offers an opportunity to get in early on a project that addresses Solana’s scalability, security, and interoperability challenges—something no other crypto or blockchain project has attempted to tackle. 

It can also be seen as an indirect bet – one with significantly higher potential given the project’s early stage – on a blockchain that has already outpaced Ethereum in the meme coin race, the breakthrough sector of 2024 and 2025 that has become a pillar of the industry due to its ability to cultivate cult-like followings.

Furthermore, Solana is gaining market share from Ethereum in the DeFi space, as reflected by Solana’s gradual growth, while Ethereum has declined since December 2024.

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Therefore, an early investment in Solaxy could align with Solana’s massive growth in its bid to outperform Ethereum, with $SOLX being comparable to an early investment in Ethereum’s Layer-2 solutions. 

To put this in perspective, Ethereum’s Layer-2 sector is valued at $10 billion, with top tokens like Mantle (MNT), Polygon (POL, ex-MATIC), and Immutable (IMX) each worth over $1 billion.

If Solaxy succeeds in solving Solana’s issues, there’s no telling how high $SOLX could soar.

Here’s How You Can Stack $SOLX at a discount

To participate in Solaxy’s presale and become a $SOLX holder, visit the Solaxy website and connect your wallet, like Best Wallet.

Best Wallet’s multichain support makes it the perfect $SOLX platform on Ethereum and Solana.

For Best Wallet users, purchasing $SOLX is straightforward and can be done directly within the app.

Join the Solaxy community on X and Telegram.

Visit Solaxy’s website for more information

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