Crypto
Solaxy Layer 2 Presale Surpasses $29 Million – Best New Cryptocurrency to Buy?
The cryptocurrency market took a hit today, but a swift recovery followed, leaving the market only 0.3% down in the past 24 hours.
Trading volume increased by nearly 2%, and the Fear and Greed Index climbed from 24 to 29, signaling a possible shift towards a more bullish sentiment. With the market potentially heating up again, Solana’s ecosystem could be primed for growth.
One project that stands out in this landscape is Solaxy (SOLX), the world’s first Solana Layer 2 blockchain offering remarkable staking rewards.
Solaxy Boosts Solana’s Performance and Growth
Solaxy is establishing itself as a pivotal Layer 2 scaling solution for Solana, addressing critical network congestion and enhancing transaction efficiency.
By strategically implementing technical advancements, Solaxy has achieved significant improvements, including increased transactions per second through a new sequencer implementation, optimized roll-up performance for faster processing, and strengthened cross-chain capabilities via enhanced bridge UI integration with Hyperlane.
Beyond technical upgrades, Solaxy is actively expanding its ecosystem by improving wallet compatibility and forging partnerships with launchpad platforms, fostering a more user-friendly and robust environment.
Source – 99Bitcoins YouTube Channel
Furthermore, Solaxy’s initiative to bridge Solana and Ethereum highlights its commitment to interoperability, broadening the use cases for both networks.
Ultimately, Solaxy’s development efforts are geared towards constructing a resilient Layer 2 infrastructure that alleviates the transaction burden on the Solana main chain, thereby bolstering speed, reliability, and facilitating growth in key sectors like Web3 gaming and DeFi.
Layer 2 projects have historically seen massive price surges post-launch, and Solaxy appears to be on a similar trajectory. With a strong foundation, a promising roadmap, and a rapidly growing community, early investors could stand to benefit significantly.
As the crypto space continues to evolve, Solaxy might just be the next big Solana meme coin to watch closely.
Solaxy Presale Surpasses $29M as Staking Rewards Reach 140% APY
Solaxy’s presale has now surpassed $29 million, placing it among the fastest-growing in the market. The current price of $SOLX remains at $0.001684, but an increase is set to occur in less than 30 hours.
During the presale, investors can buy $SOLX with $ETH, $USDT, $BNB, or a credit or debit card. MetaMask and Trust Wallet provide convenient access to the purchase process.
The Best Wallet app offers another way to acquire $SOLX, delivering a seamless experience for smartphone users. Best Wallet recently expanded its support to include Bitcoin and is preparing for its upcoming Solana integration. The app is available for download on Google Play and the Apple App Store.
Source – Solaxy Twitter
Staking rewards reach up to 140% APY, allowing early investors to grow their token holdings before the official launch. As more participants join, the APY is expected to decline over time.
This staking feature provides an opportunity to earn passive income while strengthening the network. More than 8.2 billion tokens have already been staked.
Unlike most presales that set fixed end dates or hard caps, Solaxy’s team has opted for a more flexible structure. Plans include listing $SOLX on a decentralized exchange after the fundraising phase ends.
The roadmap outlines ambitious goals, such as CEX listings, the launch of the Solaxy Layer 2 network, and further Ethereum integrations.
Visit Solaxy
Cryptocurrency laundering was an $82 billion problem last year, Bloomberg News reported Tuesday (Jan. 27), citing data from blockchain analysis firm Chainalysis.
Crypto
Strategy buys even more Bitcoin—$264 million of it—even as Bitcoin slumps to $87,000. | Fortune
Despite the current downturn for crypto, Strategy added even more Bitcoin to its collection. The company bought more than 2,900 Bitcoin last week, bringing its total to over 712,000, according to an X post by cofounder Michael Saylor. The move follows a more than $2 billion purchase earlier this month.
Strategy is the first and biggest digital asset treasury, or a type of company that acquires and holds on to large amounts of crypto. Saylor’s company began investing in Bitcoin in 2020 and now holds more than 3% of the total supply. This business model has confronted major challenges in the past few months, as the largest cryptocurrency has plummeted since its all-time high in October. Bitcoin is worth about $87,000, down about 31% since then, according to Binance.
One analyst views Saylor’s purchase as expected, considering the company’s business strategy, which is to continually amass Bitcoin on the theory it will appreciate in the long term, and to time purchases to coincide with market dips.
“It’s not surprising for me to see that they’re really aggressively continuing to purchase [Bitcoin]”, said Nathan Schmidt, an analyst at CFRA Research. “It is certainly the playbook for them these days.”
Bitcoin’s fall from its all-time high of about $126,000 in October was caused in part by a flash crash in the fall, where crypto traders lost more than $19 billion in their positions. Misfortunes for digital assets have only continued this calendar year. The sector dipped as tensions mounted between the U.S. and Europe over Greenland. In addition, major regulatory legislation, referred to as the Clarity Act, has stalled as major figures in the crypto industry spar over its details.
The major cryptocurrency isn’t the only one to suffer losses, as altcoins are down as well. Ethereum is down 30% in the last three months to its current price of $2,899, and Solana is down more than 38% to its price of about $124, according to Binance.
Crypto’s dip has led to disastrous returns for digital asset treasuries like Strategy. Saylor’s company stock is down about 64% since July to its current price of about $160.
Schmidt, the analyst from CFRA Research, argues that the biggest risk to Strategy is long-term declines in the value of Bitcoin. He says that the company could survive such a dip in the next few years because of its liquidity, but that over time the company would be in trouble.
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