The efficiency of Solana (SOL), the sixth-largest cryptocurrency, confronted an enormous decline since its rampant progress all through 2024 impressed buyers. The token, which entered 2025 priced at $189.53 and shortly soared past $294.33 in late January, is now priced at $129.13 following a 32.96% drop over the previous 30 days.
Solana’s token worth and on-chain exercise downturn began after the launch of Official Trump (TRUMP), which made Solana Layer 1’s congestion points extra distinguished than ever, with transactions taking as much as 16 hours to finalize.
As SOL nears its essential help degree of $120, it’s anticipating an enormous enhance from the launch of Solaxy (SOLX). This presale venture is constructing the primary Layer 2 blockchain that may assist Solana take care of its congestion points, probably serving to the chain regain investor curiosity and setting it on a path to $500.
Solana Might See a Reversal as It Upgrades Its Community’s Scalability
Solana’s poor efficiency over the previous two months has introduced the altcoin to its early 2024 ranges, and because it will get nearer to its 52-week low of $110.61, it may see an additional drop in worth.
Based on Sneaky, an altcoin analyst, the token may dip to $105, which might sign a wonderful shopping for alternative as he expects it to soar long run.
Nonetheless, market researcher UFO Calls believes the token gained’t dip beneath its present help degree of $120, anticipating a soar to the $1,000 degree for SOL on this cycle.
Supply: UFO Calls’s X
The bullish sentiment surrounding SOL comes from its technical indicators that counsel the token may rebound within the close to time period, reminiscent of its 14-day Relative Energy Index (RSI) of 34.79, which suggests the token is getting into oversold territory.
Moreover, it has a powerful 24-hour lengthy/brief ratio of three.83, which implies solely 20.69% of merchants are shorting SOL, reflecting investor confidence in its short-term progress potential.
Till just lately, Solana was the market’s fifth-largest cryptocurrency, however a mixture of market-wide bearish sentiment and Solana’s mainnet congestion points had a destructive impression on its worth and helped BNB (BNB) flip it.
BNB, which had lower than half of Solana’s customers all through December and January, is now additionally having fun with extra energetic each day customers than Solana, in line with token terminal knowledge.
Kyledoops, a technical analyst, identified that Solana misplaced 40.80% of its each day energetic customers over the previous 30 days, which undoubtedly influenced its token’s downturn. Though Solana isn’t sometimes related to Layer-2 chains, its upcoming Firedancer improve suggests the chain is actively attempting to enhance its scalability, as its congestion-related points dealt a heavy blow to its person rely and token efficiency.
That’s why Solaxy might be becoming a member of the market at an ideal time, as its upcoming Solaxy Layer 2 blockchain may reignite investor curiosity in Solana, probably driving its worth above its earlier ATH of $294.33.
Solaxy Turns into One of many Most Anticipated Presales With $25 Million Raised – Can it Ship SOL to the Moon?
To assist Solana take care of its congestion points that always end in gradual or failed transactions, Solaxy’s Layer 2 resolution will leverage rollups. With rollups, Solaxy will course of transactions off-chain after bundling them after which finalize them on Solana’s mainnet to retain its transparency and safety.
By taking the burden off Solana’s mainnet, Solaxy goals to supply buyers with quicker transactions and decrease gasoline charges, encouraging them to remain in Solana’s ecosystem.
Buyers can at present buy SOLX for $0.001658 utilizing ETH, SOL, USDT, or a credit score or debit card. Alternatively, the presale accepts BNB funds from Greatest Pockets’s customers, because the venture is featured in its “Upcoming Tokens” part which makes it simply accessible to its 250,000+ month-to-month customers.
With 10% of its complete token provide allotted to liquidity, which reduces the danger of a rug pull and lowers slippage, Solaxy’s builders present dedication to investor safety. Moreover, Coinsult’s audit of the venture’s good code confirmed there are not any underlying points in its code.
The workforce of specialists behind 99Bitcoins, a YouTube channel with over 725,000 subscribers, are assured SOLX is poised for a 10x surge as soon as it hits the DEXs and urge their viewers to enter the presale whereas the per-token worth is low.
The specialists highlighted Solaxy’s concentrate on group progress, pointing to its spectacular 81,000+ followers throughout X (Twitter) and Telegram. Additionally they praised the venture’s transparency, because the workforce behind Solaxy frequently shared dev updates, with the most recent replace showcasing their work on a token launchpad enlargement for the upcoming Solaxy ecosystem.
Though the crypto market is as risky as ever, Solaxy stands a stable likelihood to blow up on launch if it retains its early presale momentum as it really works on enhancing Solana’s scalability, making this the perfect time for buyers so as to add it to their portfolios.
