Solaxy ($SOLX) just blasted past $34.6 million in its ICO, with capital pouring in fast, right as Solana ($SOL) surged 21% in the past week.
Zoom out, and the momentum only gets louder: $SOL is up 53% over the past 30 days, now trading around $176. That kind of rally from Ethereum’s top rival has reignited talk of an altcoin season – and Solana’s leading the charge.
But here’s the kicker: the biggest catalyst for that run isn’t even live yet.
That catalyst is Solaxy – the first-ever Layer-2 built on Solana. With tens of millions already raised, investors clearly see it as the upgrade Solana’s been waiting for – the solution to failed transactions, congestion, and reliability issues that held it back last cycle.
Right now, $SOLX is priced at $0.001722, but only for the next 32 hours. And don’t bank on another round – if the tokens sell out, the presale closes early. After that, the only way in is through exchanges, likely at a higher price.
Solana’s gunning for altcoin season. Solaxy might be the engine that drives it.
$BTC Reclaims Six Figures – And Altcoins Are Starting to Follow
Bitcoin ($BTC) is charging toward its all-time high of $110,000, currently trading around $105,000 as of press time. It reclaimed six figures on May 8, marking another major milestone in its run.
Much of this momentum is fueled by the shifting macroeconomic backdrop, with more investors now treating $BTC as a stagflation hedge – and major institutions are piling in, aggressively accumulating the ‘digital gold’ coin.
The latest push toward peak levels came from a flurry of bullish geopolitical catalysts over the weekend. U.S. President Donald Trump posted on Truth Social about potential negotiations with China in Switzerland, hinting at eased tensions between the world’s two largest economies.
At the same time, Russian President Vladimir Putin signaled a willingness to engage in peace talks with Ukraine “without preconditions,” with Turkey suggested as the host for those talks next week.
In South Asia, a tentative ceasefire between India and Pakistan has taken hold after days of intense border skirmishes and military posturing, helping reduce global risk anxiety further.
As Bitcoin raced toward six figures, altcoins began moving in tandem. Ethereum ($ETH) burst past the $2,000 level for the first time since late March, while $SOL surged to $175, a level it last touched in early March. The synchronized rally has reignited conversations about a potential altcoin season brewing this May.
Historically, capital rotates to altcoins after Bitcoin peaks, as investors seek higher risk/reward plays. With macro tailwinds in play – like the tariff pause and rising geopolitical optimism – capital is shifting from Bitcoin, the “safe bet,” to more speculative assets.
There’s also data to support it. The ETH/BTC ratio has bounced from multiyear lows, and CoinMarketCap’s Altcoin Season Index recently hit 43 – meaning 43 of the top 100 altcoins have outperformed Bitcoin.
To officially trigger an altcoin season, that number needs to hit 75. With momentum building, it’s looking more likely by the day.
Source: TradingView
From Institutional Inflows to Network Takeover – Solana’s Gearing Up for Altseason
So why is Solana considered a top contender to lead this altcoin season? A big part of that is the string of bullish developments surrounding the network lately.
Institutional investment has been heating up, with ETF applications from VanEck, 21Shares, Bitwise, and Canary Capital all filed with the Federal Register this February. Bloomberg Intelligence currently pegs the approval odds at 90%.
Just last week, Solana secured another $12 million long-term investment from DeFi Development Corp. (formerly Janover), which also acquired a Solana validator operation. That validator currently manages an average delegated stake of roughly 500,000 SOL, or about $75 million in value.
Solana’s total value locked (TVL) in DeFi is also rising fast, climbing toward its all-time high of $11.8 billion, with current levels at $9.34 billion, according to DeFi Llama. On top of that, its stablecoin market cap smashed through $13 billion last week – a massive signal of growing DeFi strength.
But if Ethereum still leads in overall market cap and dominance, why isn’t it automatically the one expected to lead the altcoin season?
That’s where things get interesting. Since late April, Solana has overtaken Ethereum in both daily active users and transaction volume, and this trend started as far back as March.
Solana has processed over 1.49 billion transactions, with 105 million active addresses, compared to Ethereum’s 6.6 million addresses and just over 35 million transactions during the same period.
So yes, all signs point to Solana as the shepherd of a potential altcoin season. But the biggest catalyst? It hasn’t even gone live yet.
That would be Solaxy, the first Layer-2 built on Solana, and the upgrade that could change the game entirely.
This Is How Solana Levels Up – With Solaxy
Solaxy is what many Solana investors believe could be the key for $SOL to not just lead the altcoin season rally – but finally settle the debate: that Solana is the better chain compared to Ethereum.
After all, Solana processes more transactions than Ethereum fans could dream of, making it the more practical option for use cases that demand high-speed, high-throughput performance, all without needing the kind of Layer-2 scaling crutches Ethereum currently relies on just to stay functional.
But let’s be real: network congestion and outages have been Solana’s Achilles’ heel. Despite the tech, repeated slowdowns and outages have frustrated users and developers, holding back full adoption and confidence in the chain. That’s exactly what Solaxy aims to change.
As Solana’s first Layer-2, Solaxy is not a fix to Solana but rather an enhancement, designed to supercharge the network with a second, ultra-fast engine that can process transactions in parallel with the mainnet.
So during high congestion, Solaxy can offload pressure, keeping speeds lightning-fast and fees dirt-cheap, without skipping a beat.
Key Upgrades Bring Solaxy Closer to Mainnet Readiness
And recently, new developments have been announced by the project team, showing just how much progress is being made to get Solana’s first Layer-2 ready for primetime.
Here’s what’s been improved:
Faster restarts – The Solaxy team upgraded the system to make node syncing quicker, so everything runs smoother even after updates or resets. More reliable testing – Bugs and inconsistencies in the test environment have been cleaned up, meaning fewer surprises and a more stable build. Better performance – Fine-tuning how Solaxy handles rollups, making transactions even faster and more efficient. UI polish – The flickering block time issue on the interface has been resolved, making the platform noticeably cleaner and more responsive.And soon, the next phase of the Solaxy Testnet goes live – including the release of its bridge, giving users a first real look at what this Layer-2 can do.
Step by step, Solaxy is laying the foundation for a faster, more scalable Solana ecosystem.
This Is Your Chance to Help Power Solana’s Next Big Leap – Through Solaxy
To join, just head over to the Solaxy website and connect your wallet.
Newly purchased $SOLX tokens can be staked right away, earning a dynamic 116% APY that adjusts based on total pool participation.
For the best experience, we recommend using Best Wallet – it offers full visibility of your $SOLX holdings pre-launch, plus seamless multichain support for both Ethereum and Solana.
Stay connected with the Solaxy community on Telegram and X.
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