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Solana faced congestion as TRUMP, MELANIA meme tokens surged. Solaxy’s layer-2 tech could prevent future disruptions.
The Solana (SOL) blockchain faced significant network congestion on Monday as the rising popularity of Donald Trump-themed meme tokens, TRUMP and MELANIA, created an unprecedented surge in transaction volumes.
The overwhelming activity led to technical disruptions for Jito Labs, a key infrastructure provider for the Solana network.
Jito Labs reported “severe degradation” in its Block Engine API due to the extreme load, but confirmed service stability was restored following emergency measures.
This has led to increased attention on Solaxy, a new project that’s aiming to solve such issues by building the first Solana Layer-2 network.
Solana resumes block processing despite the strain caused by TRUMP and MELANIA Hype
Despite the strain on Jito’s services caused by the launch of TRUMP and MELANIA tokens, Solana continued processing blocks, albeit with temporary limitations on transaction submissions.
“Our engineering team has been actively mitigating the issue for several hours. While the Solana network continues to operate and process blocks, transaction submission through our service remains impacted,” Jito Labs engineer wrote on X.
The frenzy began with the launch of the MELANIA token by Melania Trump on Sunday, which saw an astonishing 21,000% surge within 24 hours, reaching a market capitalization of $11.39 billion.
This came shortly after the launch of Donald Trump’s TRUMP token on Friday, which temporarily soared into the top 20 cryptocurrencies by market cap.
Notably, Melania’s MELANIA token launch diverted significant market attention from Trump’s meme coin.
Her announcement on X prompted a wave of trading activity, with some investors liquidating TRUMP holdings to purchase MELANIA.
The impact was immediate and dramatic. Within minutes of MELANIA’s debut, TRUMP’s value plummeted by over 50%, dropping from $75 to $30 before recovering to approximately $64.
MELANIA’s market capitalization briefly soared to $13 billion during the trading frenzy.
“This is beyond insane,” analysts at The Kobeissi Letter posted on X.
Nevertheless, as per the latest update, Jito Labs’ service stability has improved following mitigation efforts, the team wrote on X.
Solaxy: The Solution to Solana’s congestion issues
As Solana’s blockchain grows in popularity, network congestions and rising transaction fees have become pressing concerns for its ecosystem.
Solaxy steps in as a transformative Layer-2 scaling solution designed to tackle these challenges head-on. By significantly reducing congestion and lowering costs, Solaxy promises faster and more efficient operations, paving the way for Solana’s next phase of growth.
With scalability in mind, Solaxy ensures the network remains a competitive and reliable option for developers and users alike. At the heart of this innovation lies the SOLX token, which powers all transactions within the Solaxy ecosystem.
The project has already raised over $12 million through its ongoing presale. As more users adopt Solana and its Layer-2 solution, demand for SOLX is expected to rise, creating a positive feedback loop for value appreciation.
One of Solaxy’s standout features is its upcoming Ethereum-Solana bridge, which will enable seamless interoperability between the two blockchains.
This capability extends Solaxy’s utility, allowing developers and users to easily move assets across these ecosystems, while reinforcing Solana’s position as a high-performance blockchain.
With Ethereum’s Layer-2 networks holding over $46 billion in total value locked, Solaxy’s current valuation of $9.2 million signals extraordinary growth potential.
Projections suggest it could scale to $12 billion as Solaxymatures, making it a game-changer for both Solana and its investors.
For early adopters, Solaxy offers an attractive entry point. Tokens are available during the presale at just $0.001606, paired with staking rewards of 306% APY.
These incentives not only make Solaxy an appealing choice but also reflect its commitment to rewarding its community.
As Solana faces mounting pressure to address congestion, Solaxy emerges as the ideal solution, combining cutting-edge technology with robust market potential.
For more information, visit the Solaxy presale website.
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