Solana’s PumpSwap Hits $2.5B Volume in 10 Days as First Layer-2 Solaxy Raises $28.6M in Presale
Despite the price dip, the Solana ($SOL) ecosystem has seen a strong two weeks. Its decentralized exchange (DEX), PumpSwap, hit $2.5 billion in trading volume just 10 days after launch, while its first Layer-2 chain, Solaxy ($SOLX), has secured over $28.6 million in funding.
PumpSwap has undoubtedly upgraded the trading experience for meme coins graduating from Pump.fun, offering a smoother transition. Meanwhile, Solaxy aims to take things up a notch by alleviating the network congestion issues that have plagued Solana since its inception. Recent developer updates shared on X show that the Layer-2 is well on its way to a successful debut. Early investors can still join the presale by securing $SOLX tokens at $0.00168 each for the next 31 hours before the price increases in the next stage. And with a staking protocol offering 143% APY (set dynamically), investors have the chance to grow their holdings ahead of Solaxy’s official launch.
Two big news events for Solana in one week
Stock and crypto prices are once again under bearish pressure as former U.S. President Donald Trump returns to his signature economic playbook, pushing for a 25% tariff on imported cars and auto parts from countries that impose tariffs on U.S. products. Additionally, a sweeping 20% tariff on imports from “all countries” has been under consideration. Now, markets await further details of Trump’s tariff strategy, which will be revealed on April 2 – in what the president has dubbed Liberation Day. The crypto market recently approached $2.9 trillion and slid back to $2.65 trillion on Monday. Bitcoin took a hit, now trading at $82,000, while Solana, after rallying to $146 last week, tumbled to $124, erasing nearly all its recent gains. Yet, despite the price pullback, Solana continues to rack up major wins in its ecosystem. As mentioned, Solana’s newly launched PumpSwap has already amassed $2.5 billion in trading volume.
The surge comes as PumpSwap streamlines trading for Pump.fun tokens by eliminating migration fees like the previous 6 $SOL charge for token creators and traders. It also provides instant liquidity for Pump.fun tokens, allowing seamless trading, and introduces a revenue-sharing model for creators – key advantages over Raydium, which requires manual liquidity migration. With PumpSwap locking in liquidity within the Pump.fun platform, Solana’s ecosystem stands to benefit from sustained trading activity, as seen in the platform’s explosive first 10 days. Meanwhile, Solana’s first Layer-2 chain, Solaxy, is nearing launch, with total funding now approaching $29 million.
Solaxy will make Anatoly Yakovenko change his mind about Layer-2 chains, especially with what Solaxy can do with PumpSwap
Back in January, when a pair of Trump-owned meme coins launched, the Solana network buckled under pressure once again, unable to handle the surge in network traffic. This issue has plagued Solana since its inception, frustrating users to the point where it’s likely one of the main reasons the chain has fallen short of becoming the Ethereum killer it was once hyped to be. And while founder Anatoly Yakovenko hasn’t exactly championed Layer-2 solutions for Solana, Solaxy is forging ahead, backed by millions in presale funding. Solaxy will provide the scalability Solana needs by offloading transactions from the mainnet, processing them off-chain, and finalizing them back on-chain. This added buffer could ease congestion, enhance stability, and allow Solana to maintain its signature speed and low fees without constant breakdowns.
Working in tandem with PumpSwap – if it isn’t already elevating meme coin trading to a new level – Solaxy could take it straight to the rooftop. Through liquidity bridging, PumpSwap’s pools and trading activity could move across the Layer-2 chain, optimizing transaction speed while keeping liquidity within the ecosystem. Solaxy could also push fees even lower for traders on PumpSwap while shielding meme coin trading from the same network failures that Official Trump ($TRUMP) and Official Melania ($MELANIA) suffered earlier this year. Ultimately, Solaxy and PumpSwap together could be the missing pieces Solana needs to finally realize its full potential.
Solaxy isn’t just set to dominate meme coins – but Web3 gaming and DeFi too
Yet, meme coins aren’t the only area where Solaxy could elevate the Solana ecosystem. As a Layer-2, it also has the potential to serve as a testing ground for the expanding Web3 gaming sector. DeFi is another frontier where Solaxy aims to provide a major boost to Solana – especially given that its native token, $SOLX, is actually an ERC-20. Once the ongoing development of Solaxy’s bridge is complete, $SOLX will seamlessly interact with the Solana blockchain, unlocking cross-chain capabilities.
Recent developer updates shared on X highlight Solaxy’s partnership with Hyperlane, which is making strong progress in enhancing the bridge’s security and stability, even during the testnet phases. Simply put, the addition of Solaxy is a major upgrade for Solana – one that could solidify its dominance in meme coin trading, establish it as the go-to chain for Web3 gaming, and even help it carve out a larger share of DeFi from Ethereum. This may be why prominent crypto influencers like Myles G Investments, who boasts 164,000 YouTube subscribers, have predicted that $SOLX holds 100x potential.
Missing out on $SOLX now would be like missing out on $SOL when it was trading at just $0.50
With its current funding, Solaxy appears to be approaching the final stages of its presale – making it all the more critical to secure $SOLX now before a potential tier-1 exchange listing sends the token soaring. As a key catalyst for a higher $SOL price, $SOLX could move in tandem with $SOL, meaning its current price might be the lowest it will ever be – comparable to buying $SOL back when it traded at just $0.50. Missing out on $SOLX now could feel like missing out on $SOL’s early days – an opportunity you don’t want to let slip twice. While there’s still time, head to the Solaxy website and connect your wallet to participate. For a smoother experience, Best Wallet is an excellent choice, allowing contributors to view their tokens early. With multichain support for both Ethereum and Solana, Best Wallet makes buying $SOLX simple – right from the app. Stay engaged with the Solaxy community on X and Telegram for the latest updates.