Bitcoin has maintained its upward trajectory at the start of the new year, trading above the significant $100,000 mark. Following its performance, the rest of the cryptocurrency market is moving upward like a domino effect. For instance, Ethereum, XRP, Solana, and BNB have all appreciated by over 1% in the past 24 hours. The total market capitalization of cryptocurrencies has also increased by more than 1%, reaching $3.52 trillion, with a trading volume exceeding $217 million.
Important: This article does not constitute investment advice. Investing in cryptocurrencies in presale is extremely risky. Before investing in crypto projects, it is essential to analyze each project individually, understand the associated risks, and draw your conclusions regarding their profitability.
Addressing Solana Network Congestion Issues
2024 has been a year of steady growth for the cryptocurrency market. This growth has been driven by major events such as ETF approvals, Bitcoin halving, and Trump’s victory in the U.S. presidential elections. All these events have propelled Bitcoin to new all-time highs, surpassing $100,000.
Major altcoins have also reached new highs and experienced significant capital growth. Solana has been one of the best-performing cryptocurrencies, with its value increasing by over 127% throughout the previous year.
Solana is one of the leading blockchains offering fast transactions at low costs. However, the blockchain faces a significant issue with network congestion. Approximately a quarter of Solana’s transactions fail, with failure rates reaching up to 70% during peak periods.
This challenge has intensified with the emergence of new meme cryptocurrencies and decentralized applications utilizing the Solana blockchain. The platform’s occasional instability is the main factor preventing Solana from achieving even higher prices.
Fortunately, a new cryptocurrency project launched in presale might have the solution Solana needs—Layer 2 technology. The solution involves processing transactions off the main chain on a Layer 2 platform. Transactions are grouped and managed on the Layer 2 network for better efficiency and then confirmed on the main chain.
Moreover, this new solution aims to bridge Solana and Ethereum to combine the strengths of both networks. Doing so, will reduce the load on Solana’s main network while providing developers access to Ethereum’s liquidity and security alongside Solana’s speed and affordability.
Raising $9 Million in Under a Month
Within just three days of its presale event launch, the project raised over $1 million. After one week, the total reached $4 million, and it currently stands at $9 million. This rapid growth demonstrates the high level of confidence investors have in the state-of-the-art technology offered by the project.
Early investors can purchase $SOLX tokens at a price of $0.001592 each during the current presale stage. However, the price is expected to increase as the presale event progresses.
Additionally, early investors benefit from an exclusive dynamic staking protocol with an annual return of 399%. This rate decreases over time as the presale stage advances and more $SOLX tokens are staked. So far, over 2.8 billion $SOLX tokens have been staked, and this number continues to grow.
To purchase $SOLX tokens, you can use ETH, USDT, BNB, or a credit/debit card. All you need to do is connect your digital cryptocurrency wallet through the official Solaxy presale website. Furthermore, if you’re a Best Wallet user, you can purchase tokens through the “Upcoming Tokens” section of the app.
The partnership with Best Wallet, one of the top-performing Web3 wallets, demonstrates that the project has successfully passed the audit required for listing on the app. This adds an extra layer of security for investors regarding platform activity and safety.
According to information on the website, $SOLX tokens have been allocated for continuous development, staking rewards, treasury, marketing, and listing on exchanges. This distribution reflects the team’s commitment to community transparency and the long-term development of the project.
With nearly $500,000 raised daily during its presale phase, the project has quickly gained recognition as a top ICO. This momentum shows the growing interest of investors in utility-driven projects capable of solving real-world problems.
