Solaxy Prepares to Boost Network With Layer-2 Release as Analyst Predicts SOL Rebound to $250 in Q2
Solanas (SOL) price has experienced significant volatility since late 2024. It rose to its $294.33 ATH in January and has lost more than half its value since, but analysts expect the token to reverse the trend.
As bullish sentiment builds around SOL, Solaxy (SOLX) also looks set for positive growth this quarter as it prepares to launch its Layer-2 to help solve Solanas congestion issues.
PayPal Adds Solana as Hype Around SOL ETFs Builds
Solana is enjoying increasing institutional interest, as PayPals addition of it for its US customers shook up the crypto market on April 2nd.
Additionally, according to a 19b-4 form filed with the SEC in late March, Fidelity, which already launched spot Bitcoin (BTC) and Ethereum (ETH) ETFs in 2024, is now looking to launch a Solana ETF. Although it could take months for the ETF to be approved, Polymarkets users gave it an 83% chance of surfacing by the end of 2025.
If approved, the Solana ETF could bring institutions to the sixth-largest cryptocurrency, which has analysts bullish on its potential to rebound over the next few months.
Charts analyst Curb believes SOL is headed to $350 by summer, placing a target on the $250 level during Q2 2025.
Although Solana experienced a downturn from $131 on April 2nd to $118 on April 3rd, the tokens long/short ratio immediately returned to the 3.64 level following the dip. This means only 21.49% of traders are shorting the token, highlighting their trust in Solanas short-term success.
Crypto analyst Coinvo is also bullish on Solana. He identified an ascending trendline since early 2023 and expects Solana to find strong support at the $117 level. Previously, users stepped in to defend the token during bounces, and if the trend repeats, SOL could reach new highs by the end of this year.
As SOLs potential breakout approaches, Solaxy prepares to launch its Layer 2 blockchain designed to help Solanas Layer 1 deal with its congestion issues during high-traffic hours.
The projects ambitious goals resonate, as Solaxy has raised over $29 million since its inception in December. If it keeps its momentum post-launch, it could deliver even greater gains than SOL this year, making this the best time to enter the presale.
Expert Anticipates Explosive Launch for Solaxy
Following Solanas issues in January that caused transactions to fail or take days to finalize, the news of a Layer 2 blockchain being released is turning heads. Leveraging rollups, Solaxy will process bundled transactions on behalf of Solana, potentially increasing its transaction speeds and lowering gas fees.
However, the transactions would still finalize on Solanas mainnet, retaining its robust security and transparency. As the launch of Solaxy Layer 2 approaches, its developers revealed exciting news about the upcoming ecosystem via a series of dev updates.
Previously, the team behind Solaxy revealed theyre working on a token launchpad and seamless asset transfers between Solana, Base, and Ethereum. Their most recent update also hinted at further network updates that could help enhance Solanas scalability.
Solaxys early presale success can be partially attributed to the projects strong marketing efforts, which have already helped it amass over 84,700 followers across X (Twitter) and Telegram.
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Text source: ZyCrypto
