Solana has become one of the leading blockchains, thanks to its scalability and speed improvements, which have made it one of the most active chains for meme coin trading.
However, the constantly increasing on-chain activity saw Solana fall victim to congestion in January, with SOL dipping well below its critical support levels. Despite this, some analysts expect a rally to hit soon, predicting SOL too spike to as much as $300 per token.
The upcoming launch of Solaxy (SOLX) could help address Solana’s congestion issues, so it’s no surprise its presale is gaining traction with $43.8 million raised. Could this exciting project also be set for big gains this summer?
DeFi Growth and Rising On-Chain Metrics Signal Solana’s Resurgence – What’s Next for SOL?
Solana is rapidly closing the gap between itself and Ethereum in several important areas as it races for blockchain dominance in DeFi and high-speed application fields.
Its developer-friendly architecture, combined with low-cost, high-speed blockchain, has driven significant institutional interest in Solana, which resulted in a massive spike in on-chain activity earlier this year.
Rapidly gaining ground in user adoption and transaction volume, Solana emerged as the most popular blockchain in January 2025, reaching 5.4 million active daily users. Although that number dropped to 3.3 million just a month later as a result of congestion-related issues, Solana is now in the lead again.
Following a partnership with RedStone, among other bullish news for the blockchain, Solana is unlocking additional financial use cases and attracting new investors. Bringing real-world asset (RWA) oracles to Solana, the partnership enables secure, real-time price feeds for tokenized traditional assets, boosting Solana’s DeFi capabilities.
The positive developments over the past few months were followed by rapid growth in its on-chain metrics, with the blockchain now boasting 5.3 million daily active users in early June.
With Solana’s adoption on the rise, SOL seems well-positioned for growth, and crypto expert Gerlaenco believes it will capitalize on its potential this summer.
The expert anticipates a strong upward push for SOL that would take it to the $300 mark, positioning it above its January 19th all-time high (ATH) of $294.33.
In his analysis, the expert highlighted that SOL’s recent consolidation pattern, explosion, and pullback were followed by a stabilization at the $150 level, which is a historically strong accumulation zone for SOL.
SOL’s technical indicators seem to confirm that its current price represents a solid buy zone. With its long/short ratio jumping from 2.98 to 3.79 over the past 24 hours, the token is currently being shorted by just 20.8% of traders.
Growing from $3.3 to $3.4 billion over the past 24 hours, its open interest also suggests investor interest in SOL is strengthening.
While a move to the $300 level would represent a nearly 2x surge for SOL, which is respectable, many investors looking for a higher upside over the same period are now turning to SOLX.
Solaxy Raises $43.8M for Solana Layer 2: 12 Days Until Launch
The launch of Solaxy and its entire ecosystem is rapidly approaching and could coincide with an explosion in SOL’s value, making its current per-token price of $0.001744 a good entry point.
Once live, the ecosystem will feature several components designed with investors and developers in mind.
From a token launchpad to a bridge and DEX, the Solaxy ecosystem could prove to be an excellent addition to Solana users, especially since it’s expected to feature seamless cross-chain swaps between Ethereum and Solana.
Featuring a modern look, revealed by the ecosystem’s testnet version that’s now live, Solaxy could quickly amass impressive on-chain metrics, potentially driving its utility token’s value upward in the future.
Plus, the Solaxy Layer 2 solution for Solana aims to improve Solana’s scalability by externally processing bundled transactions.
By addressing Solana’s congestion issues, Solaxy’s launch could result in better speeds and lower gas fees and play a pivotal role in Solana’s next phase of growth.
