Solaxy (SOLX) has officially stormed past $53.8 million in presale funding. This milestone proves overwhelming investor demand for Solana’s first Layer 2 scaling solution.
This historic achievement comes amid broader momentum in the Solana ecosystem. The price of Solana’s native SOL coin rebounded from the $148 support level over the past day. The speculation that a US spot Solana ETF could soon win approval from the SEC could have triggered the recovery.
Prediction markets on Polymarket now give Solana ETFs a roughly 91% chance of getting regulatory approval this year. That fuels optimism and draws new eyes to Solana projects. As the first Layer 2 solution on Solana, Solaxy is capitalizing on this enthusiasm. It is positioning itself as a high-performance scaling chain built on Solana’s base layer.
Investors now have one final opportunity to buy SOLX at the listing price of $0.001766. This last window is going to close in just six days.
Retail enthusiasm and a confluence of institutional and macroeconomic tailwinds have supported Solana’s latest rally above the psychological $150 level. For example, the Wall Street firm Cantor Fitzgerald has now started covering a group of Solana-focused public companies with bullish stock ratings, citing Solana’s superior technology and rapid developer growth compared to Ethereum.
Meanwhile, the lineup of prospective Solana ETFs continues to grow. Giants like VanEck, Fidelity, Grayscale, and now CoinShares have joined the highly competitive race to launch a spot SOL fund. This level of support from top-tier institutions signals firm conviction in Solana’s future. Moreover, Bloomberg experts’ predictions are in line with Polymarket’s expectations. They are giving 90% odds to a potential Solana ETF approval by the end of this year.
On the macro front, global monetary conditions are turning more favorable for crypto. They include the European Central Bank’s recent rate cut on June 5, which marked a pivot toward a dovish stance. Backed by this bullish macroeconomic sentiment, Solana’s technical metrics (high transaction speed, throughput) and thriving ecosystem have made it a go-to chain for the next wave of on-chain finance projects.
Those factors have set the stage for Solana’s growth. Besides, investors are also looking for a truly explosive catalyst that could sustain the SOL crypto’s price performance.
Increasingly, eyes are turning to Solaxy’s debut as that potential inflection point. Solaxy’s Layer 2 solution will directly address Solana’s biggest challenge of network congestion. Thus, it will take Solana’s community and developer enthusiasm to a completely new level.
Solaxy is a Layer 2 (L2) network that can enhance Solana’s throughput and reliability. Technically, Solaxy operates in a similar manner to Ethereum’s Layer 2 solutions. However, it is a perfect solution for Solana’s high-performance architecture.
The project’s Layer 2 will use an off-chain rollup approach. It will bundle transactions and process them off the main Solana chain. This L2 will periodically settle transactions back on Solana’s Layer
On June 10, Solaxy disclosed that it’s collaborating with Hyperlane to make its Layer 2 work smoothly across different blockchains. The collaboration will let users shift tokens quickly between Solana, Solaxy, and even Ethereum without sacrificing speed. That’s an increasingly essential consideration for today’s blockchain users and developers.
To further encourage a fully-fledged Layer 2 ecosystem, Solaxy has also revealed plans to launch the Igniter Protocol. It is a native no-code token launchpad on Solaxy’s L2 network. This feature will allow SOLX holders to create and launch their own brand-new tokens on Solaxy’s Layer 2.
Solaxy’s team has also confirmed that the project’s full mainnet launch is slated for early July. It will take place shortly after SOLX begins trading on exchanges.
It’s worth noting that Solaxy burned over 35 billion SOLX tokens last week. That immediately reduced the initial supply and increased the chances of future supply shocks. That could help boost the token’s price.
Whales have been especially active recently, accumulating SOLX tokens at a steady pace. One notable purchase saw a single investor snap up $73,000 worth of SOLX. It indicates confidence from large players who expect Solaxy to play a foundational role in Solana’s future.
With Solaxy, Solana’s ecosystem finds itself at an unprecedented breakthrough moment similar to the introduction of Ethereum’s early Layer 2 networks (like Arbitrum and Optimism), which rapidly accumulated billions in total value and user activity and generated enormous profits for the earliest token buyers.
More recently, Coinbase’s Base network showed how quickly a new L2 can explode in popularity. As of today, Base’s DeFi total value locked (TVL) has reached roughly $3.8 billion (compared to around $2.6 billion in April), and it’s even surpassed Arbitrum in some usage metrics, with over 2 million daily active addresses on its platform. Solaxy is currently Solana’s only Layer 2 solution, giving it a first-mover advantage and the chance to capture similar momentum on Solana.
Investor sentiment around Solaxy reflects this sense of a once-in-cycle opportunity, and the SOLX token presale’s almost $54 million raise (one of the largest of 2025) is being driven by a mix of retail believers and savvy crypto whales.
Solaxy’s team has opened a final presale phase with six days left, during which SOLX will be available at the listing price of $0.001766 until it sells out. It gives latecomers a last chance to buy SOLX before its exchange debut, which could be followed by significant price discovery once open trading begins.
Presale buyers can also earn passive income by staking their SOLX tokens for up to 78% APY.
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