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MELANIA meme coin is trending, however as curiosity spikes, Solana is struggling beneath heavy load – fuelling demand for layer-2 scaling; fortunately, Solaxy is constructing a Solana layer-2.
Meme cash on Solana are again within the image once more. In 2024, Pump.fun was the first driver of SOL costs, thanks partly to the explosion of tokens like Popcat and PNUT hitting the market by the launchpad.
In 2025, all the excitement round meme cash has been because of the actions of Donald and Melania Trump. Inside 36 hours, they launched meme cash, each of which have soared to multi-billion valuations.
MELANIA and TRUMP tokens launched on Solana, funneling demand for meme cash.
Hours after launching, MELANIA soared to a market cap of over $1.8 billion, flipping among the most profitable meme cash on Solana, together with WIF and BONK.
(Source)
MELANIA Crypto Is Hovering: However Will It Spark a Divorce?
MELANIA now has a market cap of $1.6 billion. At this tempo, it’s outpacing TRUMP, a meme coin that’s now additionally one of the vital useful on Solana.
(Source)
By Sunday, TRUMP was buying and selling at over $70.
Nevertheless, MELANIA’s launch compelled TRUMP costs to decrease, inflicting a 30% drop to round $50.
As in style as each meme cash are, they’ve been criticized.
Moreover, they’re centralized, as seen within the distribution of tokens through Solscan.
There’s something else happening behind the scenes.
Solana Struggling In opposition to Main Congestion
All of it considerations the success of TRUMP and MELANIA meme cash. That each tokens are working on Solana has put a pressure on the platform.
The community is struggling to maintain up with the sharp spike in transaction processing demand.
Earlier in the present day, the community was congested, rising the transaction failure charges to as excessive as 70%.
That signifies that for each 10 transactions posted, solely three went by.
This improvement might be pinned to on-chain buying and selling of meme cash.
In keeping with Jito Labs, Solana’s Block Engine API was “severely” degraded earlier in the present day as a result of “unprecedented load ranges.”
The @jito_labs Block Engine API is experiencing extreme degradation as a result of unprecedented load ranges.
Our engineering group has been actively mitigating the difficulty for a number of hours. Whereas the Solana community continues to function and course of blocks, transaction submission by…
— buffalu (@buffalu__) January 20, 2025
In consequence, priority fees spiked by a reported 50X.
Though this has been mounted and the community stabilized, it reveals simply how fragile Solana turns into, particularly when beneath excessive load.
Solana Wants a Layer 2 and Solaxy (SOLX) Is Right here To Ship
Given what’s happening, there are debates about whether or not Solana ought to undertake layer-2 options like Ethereum.
Layer-2 platforms reroute transactions off-chain, offsetting mainnet load, and scaling the community.
On these platforms, customers are assured excessive speeds and transaction processing. These options imply charges are additionally perpetually low, attracting meme coin builders.
Already, layer-2s are attracting initiatives and capital. L2Beat shows that these platforms, most of them on Ethereum, at the moment handle over $54 billion.
(Source)
Arbitrum is the most important, with a complete worth locked (TVL) of $17 billion. On Solana, scaling options are being labored on.
Solaxy is planning to develop the primary Solana layer-2. The answer will handle Solana’s scaling points and unclog the mainnet in periods of heightened community exercise and speculative buying and selling, as we’re seeing with TRUMP and MELANIA buying and selling.
Solaxy can be interoperable with Solana, deriving its safety from the mainnet.
For what it presents, it’s gaining traction, elevating practically $12 million within the ongoing presale.
Sensible buyers are scooping up the token in droves since SOLX is buying and selling for simply $0.001606.
Costs will enhance in two hours; that is one of the best time to purchase SOLX.
Those that purchase SOLX now additionally get an opportunity to stake, receiving a 305% APY.
Be part of the undertaking’s community on X and Telegram to remain up to date on its newest developments.
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The submit Solana Hits Gridlock Amid $MELANIA Congestion: It’s Time For a Solana Layer-2 appeared first on 99Bitcoins.
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