Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

New Solana Layer 2 Solaxy (SOLX) listed on DEXs today. SOLX can be bought on Uniswap and Raydium DEXs, among others, as the price gets ready to blast higher as excitement surrounding the pathbreaking scaling solution explodes.

Available on both Ethereum and Solana chains, SOLX was one of the biggest ICOs of the year, attracting $58 million in funding.

The SOLX token was listed at 2 pm UTC. Claiming was also available at that time for presale buyers, direct on the Solaxy website. The token has quickly found its footing after some initial profit-taking from early presale buyers.

The token’s debut takes place against the backdrop of broader crypto market gyrations, fueled by fears about a widening war in the Middle East and its impact on the global economy.

Still, the hotly anticipated coin launch sees SOLX trending on Dexscreeener in the No.2 slot as market participants follow developments with an eye for an enticing entry point.

Those who missed out on the presale are still early to this party, as Solaxy grows into its presumptive role as the primary layer 2 of the Solana ecosystem.

That journey goes full throttle on 7 July when the mainnet and block explorer go live, followed by the home-grown DEX called Neptoon on 14 July and the Igniter launchpad on 21 July.

Want more reasons to buy the dip? The website boldly states that SOLX will be “launching on major exchanges”, which strongly suggests that a price-moving listing is on the cards.

SOLX liquidity is locked and loaded as trading volume surges past $1.3 million

After rising above $0.0014 and then bottoming at $0.00058, profit-taking subsided as buyers moved in to push the price back up to $0.000968.

SOLX is listed at $0.00179, after being priced at $0.001766 at the end of its presale. The presale starting price was $0.001, providing the earliest buyers with a 40% nominal profit at the day’s high.

Solaxy token has already chalked up a market capitalization of $60 million, and its initial trading volume has passed $2 million within the first 10 minutes of trading.

According to Dextools, there are 6.83k holders of the token, and trust in the project is high – the Dextools reliability score is already at 85/99.

Significantly, the $1.2 million SOLX/WETH liquidity pool is locked, underscoring the reputational integrity of the project, so there is no need to worry about rug pulls by developers or any other nefarious activities.

Within minutes of its debut on Uniswap the coin was trending on popular crypto trading site Dexscreener. Also, in a special deal with CoinMarketCap, SOLX has been quickly listed on the top crypto data site, further enhancing the visibility of the project in its crucial first day of trading.

Bridge, burns, staking show Solaxy has the chops for the big time

Spurring on buyers is the impressive launch schedule announced prior to listing, which indicates that a major centralized exchange listing is coming, after the project raised more than $58 million in presale, two million of that in the past 72 hours alone.

Price-supportive staking, which currently yields 74% on tokens locked up for 12 months, has also helped to win the support of market participants looking for projects with a use case and staying power for long-term value generation. Those who staked their SOLX during the presale can start unlocking from 30 June.

With that kind of momentum, Solaxy’s market positioning as the layer that will enable Solana to deliver on its full potential as the No.1 commercial blockchain is becoming more cemented by the hour.

Additionally, in the past few days, there has been a flurry of burning activity amounting to a total token burn of 55 billion SOLX, reducing the total token supply by 39.8%, from 138,046,000,000 to 82,999,999,899.

That means even more price support, as greater scarcity strengthens the valuation potential of the token.

Confidence in the project continues to be underpinned by the team’s flawless product rollout execution. Today, the Solana-Ethereum bridge went live without a hitch, with the full SOLX Ethereum-Solana bridge rolling out on 7 July.

This is a major achievement that provides users with exposure to the best of both worlds, in terms of Ethereum’s liquidity and Solana’s burgeoning transactional activity as the home of meme coins and increasingly a major target of institutional investors.

Big money wants in on the Solana ecosystem, so sit tight for the Solaxy price explosion

There has been a flurry of Solana ETF filings, which now include Grayscale, VanEck, 21Shares, Bitwise, Canary Capital, and Franklin Templeton, plus a growing number of publicly traded Solana treasury companies.

Canadian firm SOL Strategies is one of the leaders – it holds SOL and acquires validators, too – and is in the process of filing to list on the Nasdaq in addition to its Canadian listing.

The booming activity on-chain and at the intersection of legacy finance and emerging digital asset class provides Solaxy with an excellent growth opportunity.

Solving the network congestion issues that can plague Solana when the chain gets super busy will make Solaxy stand out as the only real solution available to address these issues.

Solaxy’s comprehensive suite of tools not only enhances Solana’s transaction throughput, but opens up brand new opportunities in DeFi, gaming and general dApps development.

Vastly improved transactions-per-second speeds mean lower costs and enhanced efficiency – something that will benefit all parts of the Solana economy, but will be particularly attractive for DeFi and gaming. It will, of course, also solidify Solana’s position as the chain of choice for meme coins.

Solaxy makes Solana even faster and the Igniter launchpad will leave pump.pad behind

When the Solaxy Igniter launchpad takes off on 21 July, it will do so with trading fees likely to undercut pump.pad, enabling it to grab substantial market share in the meme coin launching and trading space.

As the only project of its kind in the Solana ecosystem, Solaxy stands to play a key role in scaling the network’s future, and with that, the potential for SOLX to appreciate significantly as adoption increases.

You can buy Solaxy on the Solaxy website, or on DEXs such as Uniswap.

Stay up to speed with project news and product launches by joining the Solaxy community on Telegram and X.

The post Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow appeared first on Cryptonews.