Home of The Best Meme Coins, Solana, Turns Five

Solana celebrated its 5th day yesterday. In honour of the occasion, we decided to instrumentality a look astatine this blockchain’s travel to becoming a starring level and the location of the champion meme coins.

Solana was launched connected March 16, 2020, by Solana Labs CEO Anatoly Yakovenko and Solana co-founder Raj Gokal and his team. That was close astir the clip the full satellite was forced into lockdown by the COVID-19 pandemic.

Some 408B transactions and adjacent to $1T successful trading connected DEXs later, contiguous Solana is 2nd lone to Ethereum successful presumption of full worth locked, astatine $6.85B.

Solana was designed to code the scalability issues that plagued the likes of the Bitcoin and Ethereum blockchains. And, implicit the past 5 years, it has been wide adopted successful areas specified arsenic DeFi, NFTs, gaming, Web3 applications, and – of people – arsenic the launchpad for immoderate of the best meme coins.

Source: CoinGecko

The high-speed, low-cost Layer 1 blockchain has had its just stock of ups and downs implicit the past 5 years.

At the highest of the 2020–2021 bull run, Solana’s marketplace headdress surged to $77.8B. However, it plummeted by a monolithic 96% successful precocious 2022. The Solana terms fell to $8.30, and its marketplace headdress bottomed retired astatine astir $3B.

Yet, Solana has proven rather the comeback kid, acknowledgment successful ample portion to the meme coin craze. Last year, the meme coin marketplace exploded, and its corporate marketplace headdress grew by 330%, according to CEX.io.

Solana’s awesome velocity (up to 65K transactions per second), debased costs, beardown community, and developer-friendly situation person made it the go-to blockchain for the best altcoins, giving it a sizeable borderline implicit competitors.

Solana Back On Track For A Good Year Ahead

As Solana celebrates its 5th birthday, it seems bully things are successful store for this blockchain. For one, US President Donald Trump precocious announced $SOL volition beryllium included successful the country’s projected strategical reserve.

Institutional players are acknowledging Solana’s beardown presumption – with the likes of plus manager BlackRock connected the brink of launching $SOL spot ETFs.

Solana besides has 2 protocol upgrades successful the pipeline. The first, SIMD 0123, proposes a strategy whereby Solana’s precedence fees spell to validator stakers. This should boost staking rewards, artifact off-chain transactions, and amended on-chain processing.

SIMD 0228, meanwhile, is simply a connection to alteration however caller $SOL tokens are released, successful a bid to marque token issuance much balanced and efficient. Instead of a fixed schedule, staking rewards would set based connected however galore radical are staking.

The Solaxy Presale Solution To Solana’s Pitfalls

Solana’s ecosystem continues to flourish successful the cryptocurrency and Web3 landscape, proving that speed, efficiency, and innovation tin co-exist successful a decentralized world. That said, the Solana blockchain is inactive known for postulation congestion and failed transactions.

To the rescue comes Solaxy ($SOLX), the meme coin down the world’s first-ever Solana Layer 2 ecosystem.

$SOLX aims to physique connected Solana’s bully points (speed and debased transaction costs) by boosting scalability and adding adjacent much speed.

As an Ethereum-based token, Solaxy volition span Solana and Ethereum, meaning $SOLX holders volition beryllium capable to capitalize connected the spot of these 2 blockchain powerhouses.

This is breathtaking quality for the crypto world, and investors are taking note. The Solaxy presale has raised $26.7M since it launched successful December past year.

Right now, 1 $SOLX costs $0.0016666 (with 153% staking rewards). Being a presale, however, it won’t enactment that debased for long.

If you’re funny successful investing successful what is perchance a crippled changer for Solana, the Solaxy whitepaper is a bully starting point, arsenic is the $SOLX X channel. Our guide to buying $SOLX volition locomotion you done the steps if you determine this is the concern for you.

Remember to bash your ain research, arsenic we’re not fiscal advisers. That said, it volition beryllium breathtaking to spot what’s successful store for the Solana blockchain if the past 5 years are thing to spell by.