Solana’s Growth Endangered by $15B Market Wipeout. The Solaxy Presale Promises to Fix It

In 2025, Solana encountered its first significant setback, suffering a costly decline on the charts. The entire Solana meme ecosystem lost a staggering $15B—a downturn widely attributed to persistent market manipulation by whale activity.

Retail investors bore the brunt of the damage, while Solana insiders and Pump.fun—its largest token generator—capitalized on the situation. Recent data indicates that, even amid volatility, Solana generated over $138M in fees during the past 30 days, underscoring its continued market influence.

But what exactly happened?

How Crypto Snipers Disrupt Market Stability

In this recent event, insiders and early token adopters appeared to have engaged in sniping tactics, exploiting market volatility for rapid gains. Crypto snipers typically target short-term profits by acquiring tokens quickly and, at times, offloading massive amounts for extraordinary returns.

One striking example involved Trump’s official token, where one investor reportedly cashed in over $50M on a modest $1.1M investment.

As expected, retail investors ended up bearing the losses, collectively recording a staggering $2B loss on paper. Moreover, this incident was not isolated, highlighting a broader pattern of market manipulation.

Melania’s official token ($MELANIA) tells a similar story after losing almost 85% of its market value, with analysts now questioning its future. One investor generated over $82M after dumping his $MELANIA reserve.

These cases show that crypto opportunists can often impact the market severely, which can sometimes cast shade on legitimate ecosystems like Solana.

What Does This Mean for Solana?

According to blockchain researcher and crypto expert, Aylo, this is a temporary setback for Solana and invokes similar situations in the crypto space. Coinbase’s 2023 case was such an instance when a DFS (Department of Financial Services) investigation uncovered ‘significant failings in the company’s compliance program’.

In other words, system vulnerabilities indicated a heightened risk of criminal activity due to Coinbase allowing the creation of new accounts without proper background checks. This violated New York’s anti-money laundering laws, forcing Coinbase to accept a $100M settlement.

Despite this drawback, Coinbase’s reputation recovered almost immediately, with its stocks exploding from $33 to $235 between January 6, 2023, and the present day for an impressive 612% evaluation.

Bitcoin’s story is also proof that the public’s perception, no matter how negative, will correct with time, provided the project has solid foundations. The same applies to Solana, Aylo believes:

‘Similar things happened last cycle with OpenSea, Coinbase and others, it’s an ever repeating story. I know you don’t get as good engagement if you voice a nuanced take, but not everyone connected to Solana is bad just because some criminals and some employees did bad things. […] Anyway, this too shall pass. As it always does.’ Aylo said in his X post.

With this in mind, what is Solana’s new Layer 2 upgrade, Solaxy, looking to achieve, and how can this impact meme coins and the crypto market as a whole?

Solana’s Upcoming Layer 2 Upgrade is a Game Changer

Solaxy ($SOLX) promises to correct Solana’s shortcomings and change how the ecosystem functions as a whole. The upcoming update aims to improve scalability, speed up transaction times, address failed transactions and crashes, and eliminate network congestion.

The devs publish regular updates on the official presale page, with the last one being on February 15. The update detailed the Hyperlane integration, enabling asset transfers in the Solaxy ecosystem, and the Sovereign SDK implementation, which applies Solana’s tool system to Solaxy.

Solaxy currently undergoes one of the best presales in the crypto space, with over $23M raised so far and a token price of $0.001644. Investors enjoy several benefits, including an APY of 175% for stakers and the opportunity to buy the tokens at the lowest prices before the public listing.

Coinsult has audited the project and found it safe for investors. This is doubled by Solaxy’s transparent and fair token distribution, creating the image of a reliable and trustworthy project.

Keep in mind that this is not financial advice. You should always DYOR (Do Your Own Research) before investing and only sacrifice what you afford to lose.

Why Solana Will Stay Strong

Solana is currently the most productive blockchain for meme coins and new crypto projects, capable of delivering up to 64K transactions per second (TPS). This value will go even higher with Solaxy’s implementation.

This allows Solana to facilitate quasi-instant global transactions at minor costs, support NFT marketplaces like Magic Eden, and serve as the foundation for DeFi platforms thanks to its speed, affordability, and seamless token transactions.

This supports the belief that Solana will bounce back and that Solaxy ($SOLX) will play a major role in that.

Again, this is not financial advice. DYOR before investing and keep in mind that the crypto market is unpredictable and risky.