Solana’s (SOL) price has been on a tear lately, and even the most experienced investors are doing a double-take.
SOL is now hovering around the $260 level after soaring in the past week, especially since the launch of Donald Trump’s Solana meme coin.
But it’s not just Solana’s rally that’s turning heads. New projects building on the blockchain are getting a lot of attention – with layer-2 solution Solaxy (SOLX) raising over $12.3 million ahead of its official launch.
Traders Bet Big on SOL and Potential ETF Approval
It’s been an excellent week for SOL holders.
The token is up 52% from last Monday’s low and was up as much as 72% yesterday before cooling off a bit.
But even after that dip, traders are still buzzing about SOL.
Spot trading volumes are up 10% to $32.2 billion, and derivatives traders are flipping bullish, with open interest on the rise.
Much of this excitement seems to come from talk about a possible spot Solana ETF.
We’ve seen spot Bitcoin and Ethereum ETFs shake up the market, and now Wall Street is wondering if Solana could be next in line for regulatory approval.
JPMorgan’s analysts are optimistic – saying a SOL ETF could bring in $3 to $8 billion from big institutions.
However, it’s not just about a potential ETF.
With Trump back as president, his crypto-friendly comments have investors feeling more confident about the future of digital assets, especially big names like Solana.
Is Solana About to Hit $300? The Case for Continued Growth
So, how high could the SOL price go?
The token nearly hit $300 yesterday, reaching $294 before selling off.
But this sell-off looks more like a natural correction than a dead end for SOL.
On the 1-hour chart, it seems like a classic bull flag pattern is forming, and today’s rebound lines up nicely with the 0.5 Fibonacci retracement level.
This often signals another surge is incoming.
Solana’s fundamentals are also looking solid, suggesting there’s plenty of room for SOL to hit (or pass) $300.
Inflation is down, and developers are having a much easier time building applications on Solana.
Plus, with upgrades like Firedancer set to boost performance, many believe the blockchain is about to enter a new era.
Then consider the growing interest from big institutions in Solana’s real-world asset (RWA) and stablecoin projects.
When you consider all these factors, the $300 mark starts to look less like a peak and more like just another milestone.
Solaxy Presale Passes $12M Mark – Why This Solana Layer-2 Is Going Viral Amid $TRUMP Mania
It’s not just Solana that’s grabbing investors’ attention Projects building on the Solana ecosystem are also seeing demand – especially layer-2 solutions like Solaxy.
Solaxy kicked off its presale in December and has already raised over $12 million.
History shows that layer-2s can be huge for early investors, especially when the market is hot and network activity is spiking.
A prime example is Arbitrum and its native ARB token, which exploded shortly after hitting exchanges.
Solaxy is launching at just the right time. As Solana’s price climbs following the launch of Donald and Melania Trump’s meme coins, there will likely be more demand for solutions that can help it scale.
Solaxy’s off-chain processing and transaction bundling are perfect for this. Plus, it also works with Ethereum, which opens the door to a lot more liquidity – a feature that’s been key for other successful layer-2s.
Right now, SOLX tokens are available in presale for just $0.001608 each.
NASS CRYPTO, a crypto YouTuber with over one million subscribers, is bullish on SOLX’s prospects – describing it as the “next evolution” in layer-2 tech.
He also praised Solaxy’s built-in staking app and its high annual yields.
Of course, there’s no guarantee of success when it comes to early-stage crypto projects.
But with Solana potentially heading to $300 and Solaxy going viral in presale, this layer-2 newcomer is definitely one to watch.
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