Solaxy ($SOLX), the initial Layer 2 solution for the Solana blockchain, officially began trading on a decentralized exchange (DEX) on June 23. Within two hours of its listing, the project’s token price surged by 65%, achieving a market capitalization of almost $76 million.
By the second day, its market capitalization had already topped $100 million, a noteworthy achievement that has attracted the attention of investors and blockchain enthusiasts worldwide.
But Solaxy’s explosive growth is not solely a tale of hype. Behind the boom is a compelling vision to address crucial limitations in the Solana ecosystem, namely congestion, scalability, and failed transactions. As the first Layer 2 scaling solution designed for Solana, Solaxy is emerging as a game-changer in the blockchain world.
A Blockbuster Presale Paves the Way
Solaxy didn’t come out of nowhere. Prior to its listing, the project successfully completed one of the largest presales of 2025, raising over $58 million. The last round of the presale priced SOLX at just $0.001766 per token, attracting a mix of retail participants and large investors.
One of them, a whale investor, apparently amassed almost $73,000 in SOLX in a single week, demonstrating a significant conviction in the token’s future. Even before the token was put on the open market, this degree of early dedication helped create a strong basis of confidence and liquidity.
The development team carried out a large token burn to increase long-term value even more, permanently eliminating 55 billion SOLX, or almost 40% of the total supply, from circulation.
Impressive Trading Volume and Rapid Growth in Users
Shortly after its DEX debut, Solaxy saw a minor correction that is typical for newly listed tokens, but quickly rebounded as trading volume surged. More than $2.2 million worth of SOLX was traded on Uniswap in a short period of time, and Radium recorded a volume of more over $500,000.
Buying activity continuously outperformed selling in both situations, suggesting that the market was bullish. Solaxy’s user base is also growing rapidly thanks to its multi-chain functionality.
Using the Hyperlane Bridge, users can seamlessly move SOLX between Ethereum and Solana networks. As of writing, there are over 13,200 SOLX holders on Ethereum and more than 2,600 holders on Solana which is a remarkable adoption rate for such a new project.
This multi-chain support is a strategic advantage rather than merely a technical benefit. Solaxy is establishing a cohesive experience that appeals to developers, traders, and long-term investors by connecting two of the busiest blockchain communities.
Roadmap Milestones Already in Motion
While many projects release roadmaps they fail to deliver on, Solaxy appears to be executing its plans ahead of schedule. The team has lined up an ambitious series of rollouts that are already underway.
- June 29: The Solaxy Wiki, a specialized location for developers and validators to obtain tools, documentation, and onboarding assistance, was launched.
- June 30: The staking rewards will formally launch, enabling early adopters to lock up their SOLX tokens and generate passive income.
- July 7: Solaxy will activate its mainnet, upgrade its block explorer, and introduce advanced bridge technology for even smoother cross-chain transfers.
- July 14: Launch of Neptoon DEX, Solaxy’s own decentralized exchange platform.
- July 21: Igniter Protocol, a multi-chain launchpad that facilitates community-driven token releases and meme coin generation, becomes live.
Each milestone not only delivers added utility for the SOLX token but also builds the foundation for a robust Layer 2 infrastructure. Analysts believe that successful execution of this roadmap could push Solaxy’s market cap beyond $1 billion, especially if community support and liquidity remain strong.
Why Solaxy Is a Big Deal for Solana
Solana has long been praised for its speed and low fees. However, as meme coins and other high-volume transactions flood the network, users have increasingly faced congestion, failed transactions, and delayed processing times of all of which undermine the user experience.
Solaxy was created to fix this. It leverages rollup technology, which processes thousands of transactions off-chain and settles them on the Solana mainnet using a single proof. This method not only reduces congestion but also lowers fees and increases transaction throughput.
The benefits are twofold:
- With less technological restrictions, developers can now create DeFi platforms, games, and dApps.
- Customers benefit from quicker, less expensive, and more dependable transactions, which benefits the ecosystem as a whole.
The platform also gives customers access to Solana’s efficiency and Ethereum’s liquidity by enabling seamless communication between Solana, Ethereum, and Solaxy itself through the Hyperlane Bridge, combining the benefits of both ecosystems into a single, seamless experience.
Token Utility: More Than Just a Meme Coin
While some have labeled Solaxy a meme coin due to its marketing style and early hype, its technical foundation tells a different story.
The $SOLX token serves multiple roles in the ecosystem:
- Transaction fees within the Solaxy network.
- Staking benefits promote network security and long-term holding.
- Governance, allowing token owners to have a say in upcoming choices and enhancements.
As the Solaxy ecosystem expands through staking, DEX integration, and launchpad functionality, the utility of SOLX will likely grow by attracting more use cases and potentially increasing its value.
The Road Ahead
Solaxy has achieved a lot in a short amount of time. From a record-setting presale to a successful DEX launch, multi-chain adoption, and a rapidly growing user base, the project has ticked all the right boxes so far.
Now that the mainnet launch and other features are quickly approaching, everyone is watching to see if the team can keep up the speed. Solaxy may transform from a speculative asset into an essential component of Solana’s core infrastructure if they keep delivering on their roadmap and address actual problems in the Solana network.
Solaxy is an interesting initiative to monitor whether you’re a developer, investor, or just a regular user. You can visit their official website to find out more or to participate.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry risk.
