Solaxy $SOLX Token Launch: 88% Drop on Raydium, Recovery Follows $58M Presale
Solaxy officially launched its $SOLX token on June 23, 2025, at 14:00 UTC across two decentralized exchanges (DEXs): Uniswap on Ethereum and Raydium on Solana. The launch came after a six-month crypto presale that raised $58 million, with the token debuting at an approximate listing price of $0.00182 on both platforms.
On Uniswap, the $SOLX token dropped by 68% within the first 35 minutes of trading to a low of $0.0005821. The price has since stabilized. At the time of writing, $SOLX is trading at $0.0011 on Uniswap, representing a 40% decline from the listing price and a 24-hour trading volume of approximately $7 million.
On Raydium, the initial decline was sharper. $SOLX fell 88% within the second hour of trading to a low of $0.0002092. Volatility remained elevated during the first four hours, but the price later recovered.
As of now, $SOLX is trading at $0.00114 on Raydium, marking a 37% drop from the listing price with a 24-hour trading volume of around $1.7 million.
Solaxy is a Layer-2 blockchain protocol built on the Solana network, designed to improve scalability using rollup-based architecture. The protocol targets over 10,000 transactions per second (TPS), low transaction fees, and cross-chain compatibility with Ethereum. The $SOLX token will serve key functions within the Solaxy ecosystem
The project is developing a suite of decentralized tools, including a blockchain explorer, a cross-chain bridge, a decentralized exchange (DEX) called Neptune, staking infrastructure, and a native launchpad known as Igniter Protocol. The Solaxy presale began in December 2024 and ran for six months, with major ecosystem components nearing release.
According to the official roadmap, the mainnet, blockchain explorer, and cross-chain bridge are scheduled for release on July 7, 2025. Neptune, the decentralized exchange, is expected to launch on July 14, followed by Igniter Protocol on July 21.
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