Bitcoin’s rally is stalling near the $91K mark as indicators warn of bearish pressure. Meanwhile, investors shift focus to Layer 2 infrastructure, with Solaxy’s ($SOLX) explosive presale revealing the next smart contract battleground.
Bitcoin’s recent recovery to just over $92,000 has offered momentary relief following the volatility sparked by US President Donald Trump’s April 2nd “Liberation Day” policy move. However, this upward momentum may be reaching its ceiling, according to new on-chain analysis and market indicators.
CryptoQuant’s head of research, Julio Moreno, flagged a concerning uptick in 24-hour Open Interest (OI)-the largest seen in recent months. Historically, surges in OI driven by derivatives have failed to sustain long-term bullish trends. In previous bullish phases, similar spikes accompanied strong price action. But the latest movement tells a different story.
Despite the surge in OI, Bitcoin’s price rose by only 4.2%, compared to more robust jumps of 10% and 7% during late 2024. The muted gains point to substantial selling pressure – a bearish signal that indicates traders may be using the rally to exit, rather than accumulate.
A key resistance level now looms between $92,000 and $93,000. This range aligns with the Trader’s Realized Price – a metric that flips from support to resistance depending on market sentiment. Currently, with the bull score below 40, it suggests the rally lacks conviction.
Yet underneath the surface, a more optimistic narrative is building. Bitcoin’s Realized Capitalisation – a measure based on the price at which each coin last moved – just hit an all-time high of $872.2 billion. This indicates strong long-term holder accumulation, even as short-term volatility spikes.
The widely-watched Bitcoin Rainbow Chart also reinforces this mixed sentiment. As of April 2025, Bitcoin sits in the “Still Cheap” to “HOLD!” zone – signalling moderate valuations and possible upside. But the chart also serves as a reminder: volatility is increasing and higher bands carry more risk, especially without firm infrastructure upgrades to support global-scale adoption.
That’s where Layer 2 infrastructure becomes critical and nowhere is that shift more evident than in the rise of Solaxy ($SOLX).
Solaxy’s $31M Presale Marks Turning Point for Solana’s Scalability
With Bitcoin approaching technical resistance, savvy investors are looking beyond Layer 1 networks and towards the scalability layer that will drive the next generation of decentralised apps. Solaxy – Solana’s first Layer 2 chain – has already raised over $31 million, capturing the attention of developers and funders eager to address the network’s congestion problems.
Solaxy recently launched its blockchain explorer in testnet – a key milestone that brings greater transparency and user insight into Layer 2 transaction activity. Built as a roll-up solution on Solana’s monolithic architecture, the explorer lays the foundation for bundling transactions off-chain and posting them to the mainnet in a compressed format.
The use case couldn’t be more timely. Solana has become a dominant force in NFTs and DeFi, with over $7.89 billion in total value locked (TVL) and a gaming ecosystem attracting over 70 million monthly active users. But as usage increases, so do problems – outages, lag and congestion have become recurring pain points.
JOIN THE SOLAXY PRESALE BEFORE THE NEXT PRICE JUMP
Solaxy’s infrastructure tackles this head-on. By compressing transactions and optimising execution, the chain delivers lower fees and higher throughput without compromising decentralisation.
Behind the Code: What Solaxy Is Building
The Solaxy dev team isn’t just raising funds – they’re building fast. Last week, the project announced major improvements to data storage speeds, achieving 140 kilobytes per second on Solana’s mainnet. They’ve also streamlined the command-line interface (CLI), giving developers a more intuitive experience when deploying on the network.
Solaxy is targeting 10,000 transactions per second (TPS), a mark that could place it alongside Ethereum’s top Layer 2s like Arbitrum and Optimism. For developers frustrated by Solana’s occasional instability, Solaxy offers a scalable, battle-ready alternative.
Cross-chain functionality is also in active development. The team has added advanced permission controls and is refining behaviours to ensure Solaxy apps mirror native Solana functionality – a critical step as the platform moves from testnet to full integration.
The $SOLX token, currently priced at $0.0017, offers staking yields of 129% APY – and with only hours left in the current round, investor demand is spiking.
A Layer 2 That Aligns with Where the Market Is Heading
As macro signals point to a possible cooldown in Bitcoin momentum, infrastructure plays like Solaxy are aligning more closely with investor behaviour. Bitcoin’s Realized Cap and on-chain accumulation metrics show smart money is staying in – but increasingly, that capital is flowing into infrastructure projects that promise long-term value.
Layer 2s are not just additive anymore; they are essential. Solana co-founder Anatoly Yakovenko may have once questioned their necessity, but the chain’s scaling issues tell a different story. Solaxy’s entrance marks the beginning of a Layer 2 era for Solana – and it’s not going unnoticed.
Crypto research group 99Bitcoins, which reaches over 720,000 subscribers, recently labelled Solaxy the “next 10x layer 2 crypto” – citing its potential to become the Arbitrum of the Solana ecosystem.
Solaxy and the Bitcoin Rainbow: Infrastructure in a Volatile World
While Bitcoin may remain rangebound in the short term, the broader crypto economy is shifting into a new phase – one that prioritises scalability, user experience and real-world performance. The Rainbow Chart may show long-term optimism, but it’s Layer 2s like Solaxy that are laying the bricks for that path.
As the presale races towards the $32 million milestone, the market is sending a clear message: infrastructure is no longer a back-end concern – it’s the front line of crypto’s next growth wave.
BE PART OF SOLANA’S LAYER 2 REVOLUTION WITH SOLAXY
With Bitcoin’s ceiling in sight and derivatives piling on risk, Layer 2 investments are quickly emerging as the safer bet for those looking beyond the next headline. Solaxy isn’t just keeping up – it’s building the rails for what’s coming next.
