Bitcoin (BTC) price had a strong start into the week, rising to multi-month highs following a spike in institutional flows led by MicroStrategy, meanwhile fears of rising inflation continued to draw in more capital. Bitcoin Market Movers: MicroStrategy and Metaplanet Accumulate BTC MicroStrategy made headlines by adding $764.9 million worth of BTC to its treasury, right after a class action lawsuit was filed accusing the firm of breaching federal securities laws. Source: PomerantzLLP Japanese investment firm Metaplanet also acquired $104.8 million in Bitcoin which brought its total holdings close to the $1 billion mark. The two transactions by MicroStrategy and Metaplanet likely had the largest impact on the asset’s surge to $107,148. Investors See Bitcoin as a Hedge Against Rising Inflation Apparently, investors are hellbent on using Bitcoin as a hedge amid a growing concern of inflation and the potential of hawkish monetary policies. In their latest earnings call, Walmart… Read More at Coingape.com
A promising Layer 2 protocol called Solaxy ($SOLX) has captured attention by raising an impressive $26.8 million during its ongoing token sale.
In the same way that L2s such as Base have improved Ethereum’s throughput, Solaxy now promises to do the same for Solana, speeding up transactions and stopping network congestion.
Solaxy’s stunning presale, which is still ongoing, shows strong investor confidence in the project’s vision to help Solana maintain its position in the cryptocurrency world.
Technical Innovation Behind Solaxy Excitement
Blockchain networks face an ongoing challenge of balancing security, decentralization, and transaction throughput.
Despite Solana’s impressive processing capabilities compared to many competitors, periods of intense network activity (such as when $TRUMP launched) still create bottlenecks, resulting in delayed confirmations and occasional transaction failures.
Solaxy approaches this challenge through an architecture that processes transactions outside the main chain before bundling them together.
These streamlined validation mechanisms maintain security while improving speed, and reduce transaction costs across Solana.
This means Solaxy can help unlock Solana’s full potential, potentially creating billions in new economic value across the ecosystem.
Market Position And Investment Opportunity
With Solana currently valued around $65 billion, and Solaxy in its pre-launch phase, astute investors may recognize the potential value disconnect. Early participants can secure tokens at $0.001666, though this entry price increases in the next 24 hours as the offering advances.
Beyond potential price appreciation, the project offers a staking program currently yielding 152% annually, providing immediate benefits to participants. This rate will naturally decrease as more tokens enter the staking pool.
Cryptocurrency platform 99Bitcoins, with its 700,000+ YouTube subscriber base, recently featured Solaxy in its coverage. Analyst Umar Khan expressed particularly bullish sentiment, describing it as a “Solana gem” with the potential to multiply investment 100 times following its market debut.
This coverage from a respected industry voice provides the project with credibility and visibility, demonstrating its ability to resonate with serious cryptocurrency analysts.
Solaxy Arrives as Excitement Grows Around Solana
After months of turbulent price action, cryptocurrency markets appear to be stabilizing. Solana specifically has posted a modest 1.4% gain over the past week, holding firmly at the psychologically important $125 level.
This price zone carries special significance as it marked the exact support level before Solana’s previous surge to its all-time high of $294.33 in January. Technical analyst Crypto Patel has identified this as “strong support” that could potentially launch Solana toward $500 as market conditions improve.
This stabilization is already benefiting Solana ecosystem projects, with Render and Bonk up 8% this week while Helium has grown 22%.
Given Solaxy’s targeted approach addressing a core infrastructure need and its relatively smaller market capitalization, the project appears uniquely positioned to outperform even these impressive gains during the next market cycle.
For those interested in the token offering, Solaxy provides multiple ways to get involved. Participants can use Solana-compatible wallets, Ethereum-compatible wallets, or direct credit card purchases.
The process begins at the official Solaxy website, where you select your investment amount and preferred payment method. After the presale concludes, tokens are available for claiming.
Regarding security concerns, the project has completed a comprehensive audit through Coinsult, which found no vulnerabilities or issues in the codebase, providing additional confidence for potential participants.
As Solana’s ecosystem continues expanding, Solaxy represents an infrastructure improvement that could dramatically enhance the network’s capabilities.
The post Solaxy is Solana’s Rising Star as L2 Protocol Raises $26M: Best Crypto Presale? appeared first on Coinpedia Fintech News
A promising Layer 2 protocol called Solaxy ($SOLX) has captured attention by raising an impressive $26.8 million during its ongoing token sale. In the same way that L2s such as Base have improved Ethereum’s throughput, Solaxy now promises to do the same for Solana, speeding up transactions and stopping network congestion. Solaxy’s stunning presale, which …
Texas Bitcoin Reserve proposal passed a Senate vote with 25 out of 30 votes in favor. It will require another vote in the House of Representatives to reach the Governor and become law, but the progress is very encouraging.
Several other state-level reserve proposals failed due to Republican Party defections. In Texas, however, most Democrats voted in favor. This bill does not trigger mandatory Bitcoin purchases yet, which was a major sticking point with fiscal conservatives.
“The Texas Bitcoin Reserve Bill passed the Senate with some Democrat support. (The final vote was 25 – 5, and there are 11 Democrat Senators). If there is similar cross-aisle support in the House, then the bill’s prospects for success are good,” a legislative watchdog claimed on social media.
The effort to pass a Bitcoin Reserve in Texas has been an important piece of crypto regulation for several reasons. Obviously, Texas is a large and economically vital area, with the second-largest GDP of all US states.
Additionally, this effort represents a crucial chance to defeat a losing streak in state-level Reserve bills.
Essentially, these bills would trigger up to $23 billion in Bitcoin purchases nationwide, which thrilled the crypto community. There’s just one problem: the Republican Party values fiscal conservatism.
However, approval at this stage does not inevitably trigger this sort of spending, and now Texas can join states like Utah and Arizona as the leaders in this race.
Texas’ Position in the Bitcoin Reserve Race. Source: Bitcoin Laws
What’s Next for the BTC Reserve Bill in Texas?
Despite today’s win, the fight for a Texas Bitcoin Reserve is far from over. The bill will now move to the state’s House of Representatives, which has more than five times as many members.
More specifically, the Texas House of Representatives has 89 Republican members and 62 Democrats. In theory, this should be a clear win, as Republicans are largely pro-crypto.
However, this wasn’t the case in Montana, North Dakota, South Dakota, Pennsylvania, and Wyoming, where several Republican members voted against the respective BTC reserve bills.
The Texas bill passed the Senate with near-unanimous support, but it might be more contentious before a larger body. In any event, it’s a win, and the Bitcoin Reserve efforts could use a victory right now.
