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Solaxy’s ($SOLX) fundraising to build Solana’s first Layer-2 is surging, with its ICO now surpassing $23.5 million. Meanwhile, market sentiment remains gripped by fear as Bitcoin slipped below $90,000 on Monday. This bearish outlook has spilled over to Solana, which has dropped to $141 at the time of writing, with concerns mounting over its upcoming token unlock in March. Despite the uncertainty, some analysts remain bullish on $SOL, projecting it could hit $551 this year. If that happens, Solaxy could ride the wave, positioning itself as a much-needed solution to Solana’s recurring network congestion issues. For perspective, Solana once traded at just $0.50. Even at today’s price, it has surged an astonishing 28,129%. Similarly, at its current presale price of $0.001646 per token, $SOLX is seen as a bargain by analysts and influencers like ClayBro and Borch Crypto, who predict potential gains of 30x to 50x. With the next presale s...

Solana (SOL) vesting contracts will unlock 11.16 million SOL on March 1, worth over $2 billion at current prices. This will come from tokens previously bought and later sold by the defunct exchange FTX, part of the bankruptcy process. As informed in a Blockworks newsletter, “the FTX estate sold off a number of still-locked tokens to investors at a significant discount to the market price,” after the exchange went bankrupt. Data from Messari shows that the FTX Estate has 11.2 million SOL to be unlocked, including March 1’s event. Solana (SOL) Token Unlocks Per Month. Source: Messari / Dave (@ItsDave_ADA) This upcoming unlock amount represents over 2.2% of Solana’s circulating supply of 488.28 million SOL, according to CoinMarketCap . While a massive sell-off is possible, considering the buyers are already in profit, some analysts believe the threat is low. Picks for you ...