Solana Falls, But $56M ICO Sparks Investor FOMO

The Solana worth plunged 4% prior to now 24 hours to commerce at $139.88 as of 10:27 p.m. EST on buying and selling quantity that surged 54% to $4.9 billion.

This comes at the same time as Wyoming’s Steady Token Fee shortlisted Solana and Aptos for a pilot program for WYST, the primary stablecoin issued by a US state authorities.

The 2 chains had been ranked joint prime with 32 factors from 11 blockchains assessed by Wyoming, in response to a submit on X by Aptos. Regardless of tying for first place, Solana was not chosen for the pilot section.

The Wyoming Steady Token Fee has positioned Aptos because the highest-scoring blockchain candidate for WYST—the primary fiat-backed stablecoin issued by a U.S State—tying for 1st place with Solana.

WYST shall be deployed utilizing @LayerZero_Core. pic.twitter.com/CMUyRbs4Gq

— Aptos (@Aptos) June 20, 2025

The fiat-backed WYST stablecoin is ready to launch in August by way of LayerZero and shall be issued utilizing the Omnichain token interplay protocol.

Solana Worth Nearing Breakdown Level, As RSI Alerts Rising Promoting Stress

The SOL price is at the moment buying and selling at $139.88 on the 3-day chart and continues to maneuver inside a falling channel sample, indicating a medium-term bearish development.

Following a failed breakout try close to the $181 resistance zone, the Solana worth motion has damaged under each the 50-day and 200-day Easy Shifting Averages (SMAs), confirming bearish momentum.

Earlier assist ranges close to $131 are being retested. The general construction suggests decrease highs and decrease lows forming persistently over time.

In the meantime, the Relative Energy Index (RSI) stands at 43.03, indicating a lean in direction of bearish territory however not but oversold. This implies that there’s nonetheless room for additional downward motion earlier than consumers might step in aggressively.

If SOL continues to respect the falling channel sample and fails to reclaim the $149 and $155 resistance zones, a drop in direction of the decrease boundary of the channel, across the $75 vary, is probably going within the coming weeks, a 46% drop from the present stage.

SOL/USD Chart Evaluation (Tradingview)

Nevertheless, ought to Solana bulls handle to reclaim the $155 stage with quantity, there may very well be a short-term restoration in direction of $200. Further strain might additional push the value of Solana to the $264 stage in the long run, an 87% surge from present ranges.

In the meantime, traders are flocking to purchase the Solana Layer 2 presale Solaxy (SOLX), with simply two days left in its blockbuster presale. Fashionable YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 10X post-launch.

Solaxy Presale Nears $56 Million – Solely 2 Days Left

Solaxy ($SOLX) is constructing the world’s first Solana layer 2 blockchain. Its presale is without doubt one of the most profitable of the yr after elevating a jaw-dropping $55.98 million thus far. 

Solaxy goals to eradicate the community’s congestion points by the ability of rollup expertise.

Solana is understood for its excessive speeds and low charges, however Solaxy takes issues to an entire new stage. Whereas Solana can compute 6,500 transactions per second (TPS), Solaxy goals for 10,000 TPS.

Solana is certainly quick, low-cost, and able to accommodating hundreds of thousands of lively customers. But it’s not excellent. Urgent points embrace congestion, longer wait occasions and elevated transaction failures during times of peak community exercise.

The mission’s cross-chain bridge, which can join Solana with Ethereum, will allow seamless asset transfers, enhance liquidity, and broaden use instances for decentralized finance (DeFi), NFTs, and gaming.

The Solaxy group has additionally deployed the Igniter Protocol, which permits customers to create new tokens and have them listed immediately on the upcoming Solaxy DEX.

Different current developments embrace a Hyperlane partnership, enabling seamless interoperability between Solana and Ethereum, in addition to a complete 55 billion SOLX token burn to extend shortage forward of launch. 

One other MASSIVE burn. 🔥

We’ve simply burned 20,000,000,000 $SOLX, additional tightening provide forward of mainnet.

This follows our earlier 35B $SOLX burn, bringing the full burn to 55 BILLION $SOLX – That is ~40% already burned!

View right here: https://t.co/0izmHfkIJv

Much less provide.… pic.twitter.com/Q7rIj0BCbc

— SOLAXY (@SOLAXYTOKEN) June 19, 2025

The presale’s success can be being fueled by Solaxy’s staking program, which gives an annual proportion yield (APY) of as much as 76%. That’s one other key cause why whales are piling into the presale, with purchases like this one for $49,894.68 yesterday.

Priced at $0.001766 per token, traders can be part of the presale utilizing BNB, ETH, USDT, or a financial institution card.

Seize SOLX tokens throughout the subsequent 2 days to hitch a mission that analysts say might take Solana to the following stage.

Visit the Solaxy website.

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