Solana Surges Past $140 Amid Strong Network Activity
Solana’s price surged beyond the $140 mark on Saturday evening, driven by significant network activity and key infrastructure advancements. The question now is whether it can maintain this upward momentum and reach $180. A notable development is the introduction of its first layer 2 blockchain, Solaxy ($SOLX), which has recently achieved over 1 million transactions on its test net. Additionally, the ongoing token presale for Solaxy has gained substantial traction, raising $30.8 million to date, with more than $200,000 generated in just the past 24 hours. Investors can purchase $SOLX at a fixed presale price of $0.0017, but this price is set to increase during the ICO, with the next rise occurring in less than two days.
Solana’s Ecosystem Experiences a Resurgence
In a noteworthy rebound, Solana stands out as one of the first ecosystems to regain significant traction this month, with on-chain activity approaching levels typically seen in bull markets. Over the past month, the blockchain has attracted more than 79 million users, a figure that surpasses that of any other network by more than double. This week, the network processed $15 billion in decentralized exchange (DEX) trading volume, exceeding the next most active chain, Ethereum, by over 50%. These on-chain metrics suggest a renewed influx of investors into the Solana ecosystem, contributing to a heightened demand for $SOL. The price has recently surpassed $140 for the first time in almost a month, providing a sense of relief for its community. After dipping to $100 in early April, Solana has demonstrated remarkable resilience. Analyst Bobo highlighted that the price chart has formed an “inverse head and shoulders” pattern, often indicating a bullish reversal. While he did not specify how far the price might rise, the $180 target appears plausible if this pattern materializes successfully.
Infrastructure Improvements Fuel Positive Sentiment
In addition to increasing user engagement, advancements in infrastructure are enhancing the optimistic outlook surrounding $SOL. Galaxy Digital, a major player in digital asset management, has acquired over 650,000 $SOL this week and proposed a new DAO initiative aimed at reducing $SOL inflation from its current rate of 4.6% to 1.5%. If this proposal is approved, it would significantly alleviate future selling pressure. Concurrently, the development of Solana’s inaugural layer 2 blockchain, Solaxy, is progressing well, with funds being raised through a public presale. So far, the presale has accumulated over $30 million, making it the largest presale in Solana’s history. Solaxy is designed to enhance Solana’s efficiency by employing off-chain computation and transaction bundling technology, addressing the network’s congestion issues that arise during peak activity periods. This innovation positions Solana favorably for sustained growth. The Solaxy team has also launched a new portal on its website, providing real-time data from its test net, where over 1 million transactions have been successfully executed. Given Solana’s positive trajectory and Solaxy’s potential to resolve critical network challenges, analysts predict significant gains, with Borch Crypto estimating a possible 50x increase after the token’s market debut.
Final Opportunity to Purchase $SOLX at $0.0017
The presale price for Solaxy is set to incrementally rise with the start of each new round, with the next round kicking off in less than two days. Investors looking for maximum potential returns should consider acting swiftly. As Solana takes the lead among major cryptocurrencies, Solaxy is positioned to create a transformative impact within its ecosystem. This potential for strong returns is why experts have high expectations for the project. Additionally, Solaxy has undergone an audit by Coinsult, which found no issues within its code, ensuring investors can be confident in the project’s technical security. For updates, interested parties can follow Solaxy on X or join its Telegram group, or they can visit its website to purchase tokens.
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