Solaxy Launches First Solana Layer-2 Testnet and Nears $44M in SOLX Presale, Boosting Institutional Interest and Ecosystem Scalability
Institutional investment in Solana (SOL) is accelerating, highlighted by Canadian firm SOL Strategies acquiring over $18 million in SOL as part of broader institutional exposure. The launch of Solaxy’s first-ever Layer-2 public testnet for Solana marks a significant technical milestone, aiming to resolve network congestion and scalability issues akin to Ethereum’s successful Layer-2 upgrades. Solaxy’s SOLX token is in presale and has raised nearly $44 million, driven by strong backing from major investors and dynamic staking yields up to 92% APY, with over 12 billion SOLX already staked. The SOLX token is set to list on major exchanges in 12 days, increasing trader anticipation. Solaxy’s growing community, easy access via Best Wallet app, and record presale participation reflect surging ecosystem interest. Despite Solana’s price currently lagging the broader crypto market near $150, this Layer-2 solution could restore confidence and drive greater utility and value, especially for Solana dApps, meme coins, and gaming projects. Market attention remains high due to supportive macro conditions and large-scale buys, signaling a bullish outlook on Solana’s potential to rebound toward previous highs. Traders should monitor both SOL and SOLX closely as these developments unfold, with ecosystem scalability, technical innovation, and institutional sentiment set to impact trading strategies.
Bullish
The launch of Solaxy’s Layer-2 testnet for Solana and the strong institutional investment, as evidenced by SOL Strategies’ $18 million buy and the $44 million raised in the SOLX token presale, demonstrate rising confidence in Solana’s long-term scalability and ecosystem growth. The upcoming exchange listing for SOLX, high staking rewards, expanding community, and positive macro conditions reinforce strong trader sentiment. Although Solana’s price has recently underperformed, new technical solutions and deepening institutional interest point toward a renewed bullish outlook, with the potential for Solana to regain and surpass previous highs as scalability improves.