Solana’s Layer-2 Solution Solaxy Secures $42 Million in Presale Amid Bullish Market Sentiment

Solana’s recent resurgence to $170 has reignited bullish sentiment among traders, with many anticipating a retest of its all-time highs. This Optimism is fueled by the network’s growing DeFi and meme coin activity, which has increased demand for ecosystem projects like Solaxy. Solaxy, a Layer-2 scaling solution, has successfully raised $42 million in its presale, highlighting strong investor confidence. The project aims to address Solana’s congestion issues through rollups and transaction bundling, promising faster processing times and improved scalability. As of June 2025, Solana’s ecosystem continues to attract significant attention and investment, positioning it as a key player in the blockchain space.

Solaxy Presale Raises $42 Million for Solana Layer 2 Amid Market Optimism

Solana’s resurgence to $170 has reignited bullish sentiment, with traders anticipating a retest of all-time highs. The network’s growing DeFi and meme coin activity is fueling demand for ecosystem projects like Solaxy, a Layer-2 scaling solution that has secured $42 million in presale funding.

Solaxy introduces rollups and transaction bundling to address Solana’s congestion issues, promising faster processing and reliable execution. Its modular toolkit enables developers to deploy optimized dApps across trading and DeFi verticals, while the upcoming Solaxy DEX will serve as a native hub for tokens launched through its platform.

Solana Holds Near $154 Amid Macroeconomic Pressure

Solana (SOL) continues to trade under pressure, hovering around $154.50 after breaking below its mid-April uptrend channel. The token’s 24-hour range tightened between $152.33 and $158.06, reflecting a 3.76% swing as tariff concerns weigh on crypto markets.

Derivatives data reveals growing bearish sentiment, with SOL futures open interest dropping 2.47% to $7.19 billion. Long liquidations surged to $30.97 million while short liquidations remained minimal, confirming the downward bias.

Despite short-term weakness, institutional confidence persists. Circle’s $250 million USDC mint on solana reinforces the network’s stablecoin dominance, now processing 34% of all stablecoin volume. SOL Strategies’ $1 billion validator fund further underscores long-term belief in the protocol’s scalability.

TON Blockchain Resumes Operations After Brief 40-Minute Halt

The Open Network (TON) blockchain experienced a 40-minute disruption in block production on June 1, 2025, due to a technical error in its masterchain dispatch queue. User funds remained secure, and pending transactions were preserved throughout the incident.

Developers swiftly intervened, restarting block production by updating select validators. The team emphasized that high-throughput networks like TON occasionally face such complexities, drawing parallels to similar outages in Solana and Sui Network. Technical infrastructure investments remain critical for maintaining reliability in fast-paced blockchain ecosystems.

Solana Tests Key Support Levels Amid Whale Activity and Technical Bearishness

Solana’s SOL token dipped to $153.97, marking a 1.61% decline after facing rejection at the $172 resistance level. The breakdown below $160 and the 100-hourly SMA signals weakening momentum, exacerbated by a whale transferring 1 million SOL ($161 million) that triggered $323 million in realized losses.

Despite bearish pressure, SOL maintains a critical support zone between $150-$156. The 50-day moving average and recent recovery above $155 suggest potential stabilization. Meanwhile, Solana’s ecosystem growth continues with Chainlink’s CCIP deployment—its first non-EVM integration—and the launch of an open-source mobile dApp toolkit supporting 18+ protocols.