Solana’s Meteoric Rise: The Impact of TRUMP and MELANIA Coins
The Surge of Solana: A New Era in Cryptocurrency
In a remarkable turn of events, the Solana blockchain experienced a significant boost following the launch of the $TRUMP and $MELANIA coins. Over the weekend, Solana’s native token, SOL, skyrocketed by an impressive 45.57%, marking a milestone as it surpassed $10 billion in Total Value Locked (TVL) for the first time since the infamous FTX collapse two years ago.
Challenges Amid Success: Solana’s Congestion Dilemma
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This remarkable success did not come without its own set of challenges. Solana has been grappling with network congestion due to an overwhelming surge in transaction volumes. This is where Solaxy ($SOLX), a promising Solana Layer-2 solution, emerges as a timely savior.
The Meteoric Rise of $SOL
On January 19th, the value of $SOL soared to an unprecedented all-time high, surpassing $290 and achieving a market capitalization exceeding $128 billion. This surge can be attributed to the frenzy surrounding the Trump-family meme coins.
The Impact of the $TRUMP Coin
The $TRUMP meme coin, introduced after the incoming US president Trump announced his official meme coin on X on January 17th, generated immense trading volumes of approximately $3 billion over the weekend. It reached its peak with a $6 billion market cap and an astounding $30 billion in fully diluted value within just 24 hours. This catapulted Trump’s coin to become the third-largest cryptocurrency by market capitalization across all blockchains before experiencing a sudden decline as the MELANIA coin started gaining momentum.
A Tough Act to Follow: The Rise of MELANIA Coin
Similar to her husband’s coin, MELANIA experienced an extraordinary surge, increasing by over 21,000% and reaching a market cap of $12 billion within less than three hours of its launch on January 19th. The Trump coins sent Solana’s traffic through the roof, generating over $35 million in fees and at least $14 million in revenue. However, this pre-inauguration surge also caused technical difficulties and delays for some Solana ecosystem applications like Jito and Phantom.
Solaxy: A Solution to Solana’s Congestion
Introducing Solaxy
Solaxy is an innovative token that powers the first-ever Layer-2 (L2) blockchain built on Solana. This L2 network aims to address the network congestion, scalability challenges, and transaction failures witnessed during this recent trading frenzy. While Solaxy may not alleviate the current pressures of the TRUMP surge, it lays the groundwork for Solana’s future growth.
Solaxy’s Potential and Investor Interest
Based on Ethereum, Solaxy seeks to leverage Ethereum’s liquidity to enhance Solana’s capabilities, enabling faster, cheaper, and more reliable transactions on a larger scale. Since the $SOLX token presale launch on December 12, 2024, the project has raised nearly $12 million ($11.93 million), with the token price increasing from $0.001 to over $0.0016—a 60% rise, reflecting substantial investor interest. Analysts predict that Solaxy could reach $0.025 by the end of 2025, promising potential returns of 1,462.5% for presale investors, with even higher gains for early adopters.
Solaxy’s Promising Future
Although the Solaxy network is still under development and slated for release later this year, its potential to address Solana’s challenges has already garnered significant attention. The growing community on Telegram and a following of 61,000 on X are testaments to its promising future.
Solaxy: The Next 100x Coin?
As Solana’s meme coin ecosystem expands, Solaxy’s strategic positioning as an L2 project for the meme coin market, coupled with its attractive early investor rewards, positions it as a potential candidate for becoming Solana’s next 100x coin by year’s end. However, as with any new cryptocurrency venture, risks persist, and thorough research is always advised.
