The last week brought a major price recovery to the crypto industry, allowing prices to grow after the dip seen in the second week of January. Solana, the fifth-largest cryptocurrency by market cap, saw a big increase that took its price from $177 on January 13 to $292 yesterday, January 19.
However, the start of the new week has triggered a correction that first brought SOL down to $234, then pushed it back up to $272, only for it to once again drop to $252 at the time of writing.
Right now, the crypto sector is seeing a lot of volatility, and Solana is not the only one. Even Bitcoin, which previously blew up to $109,114 — officially a new all-time high — is now spiraling down, currently at $106.4k.
https://x.com/thecableng/status/1881301689753608577
The drop started only hours prior to Donald Trump’s inauguration, scheduled to take place later today. The upcoming event brought hype to the crypto sector, but some traders have opted to take profit, triggering a significant price dip. Still, this could be only a temporary correction, and the price might yet bounce back up once it finds a strong support.
But, all of it went back to the launch of the new Trump meme coin, which quickly reached a $15 billion market cap, only to then see a sharp dip.
https://x.com/rymondIncKenya/status/1881305610760970368
Known as Official Trump (TRUMP), the Solana-based token went live on Saturday, skyrocketing from $7 to over $75. However, since then, it too saw a 29% dip to the current price of $53.51. And, since it runs on the Solana blockchain, many have started buying SOL, as well. However, with both TRUMP and SOL now correcting, investors might want to look into an alternative called Solaxy (SOLX) — a brand new meme coin that is still in ICO.
JOIN THE SOLX ICO AND ENJOY QUICK AND CHEAP TRANSACTIONS THAT WON’T FAIL
Solaxy Is Solana’s First L2 Project
Solaxy is the new meme coin in Solana’s ecosystem which will actually be Solana’s first Layer-2 (L2) project. It decided to take this alternative route in order to fix some of Solana’s major issues, and primarily network congestion.
Initially, Solana was created to resolve Ethereum’s problems, such as slow speed and high transaction fees, and on that front, it was very successful. Today, it is known to be one of the fastest and cheapest major blockchains. However, it did not do equally as well in terms of scalability, which resulted in network congestion and failed transactions.
Now, Solaxy meme coin emerged as an L2 project to try and solve this issue as well. It will run in both Solana’s ecosystem and Ethereum’s ecosystem, and as such, it will act as a bridge between the two. Both chain’s communities will be able to use it and have their transactions processed at near-instant speeds, and at low prices, but with no failure and congestion.
This is something that many have been waiting for for a long time, and as a result, its ICO blew up, raising over $12.4 million in only five weeks. Right now, the SOLX token is selling at a price of $0.001606, and it will see its next price increase in only a little under two days. That gives you plenty of time to research the project and buy some of its tokens, if you decide that you like what you see.
BUY SOLX WHILE ITS PRICE IS LOW
Given the fact that its ICO is speeding up now that the prices are rallying throughout the crypto sector, the demand for the SOLX token is skyrocketing, which could reflect positively on its price once the token finally goes live. So, don’t wait too long to join — get your SOLX today.
