MELANIA meme coin is trending, but Solana is struggling under heavy load as interest rates skyrocket, increasing demand for layer 2 scaling. Fortunately, Solaxy is building Solana Layer 2.
Solana's Meme Coin is back! In 2024, Pump.fun became the main driver of SOL price, with tokens like Popcat and PNUT exploding onto the market through Launchpad.
In 2025, all the talk about meme coins was due to the actions of Donald Trump and Melania Trump. Within 36 hours, they released meme coins, and both soared in valuation to billions of dollars.
Melania and Trump tokens were launched on Solana, sparking demand for meme coins.
A few hours after launch, Melania rose to the top. Market capitalization Over $1.8 billion and flipped some of Solana's most successful meme coins, including WIF and BONK.
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Melania's cryptocurrency soars: But will it lead to divorce?
Melania's market capitalization is currently $1.6 billion. At this pace, it has surpassed TRUMP, currently one of the most valuable meme coins in Solana.
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By Sunday, TRUMP was trading above $70.
However, Melania's launch caused TRUMP's price to drop, dropping 30% to around $50.
While both meme coins are popular, they have also received criticism.
Furthermore, they are centralizedas seen in the distribution of tokens via Solscan.
There's something else going on behind the scenes.
Solana struggles with heavy traffic jams
It all has to do with the success of Trump and Melania's meme coin. Both tokens are running on Solana, which puts a strain on the platform.
Networks are struggling to keep up with the surge in transaction processing demand.
Earlier today, the network became congested and transaction failure rates rose to 70%.
In other words, For every 10 transactions posted, only 3 passed.
This development can be pinned to on-chain transactions in meme coins.
According to Jito Labs, Solana's Block Engine API experienced a “severe” performance degradation earlier today due to “unprecedented load levels.”
of @jito_labs Unprecedented load levels are causing severe degradation of the Block Engine API.
Our engineering team has been actively working to mitigate the issue for several hours. While the Solana network continues to operate and process blocks, transactions are sent…
— Buffalo (@buffalu__) January 20, 2025
As a result, priority rate Reports indicate a 50-fold increase.
Although this issue has been fixed and the network is now stable, it shows how vulnerable Solana is, especially under high load.
Solana requires Layer 2 and Solaxy (SOLX) delivers it
Given what is going on, there is a debate about whether Solana should adopt a layer 2 solution like Ethereum.
Layer 2 platforms reroute transactions off-chain, offsetting mainnet load and scaling the network.
On these platforms, users are guaranteed fast transaction processing. These characteristics also mean that fees are permanently low, which attracts meme coin developers.
Layer 2 already has projects and funding. Most of these platforms are on Ethereum and currently manage more than $54 billion, according to L2Beat.
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Arbitrum is the largest, with total value locked (TVL) of $17 billion. At Solana, we're working on scaling solutions.
Solaxy plans to develop the first Solana Layer 2. This solution addresses Solana's scaling issues and unclogs the mainnet during periods of high network activity and speculative trading, as seen with TRUMP and MELANIA transactions.
Solaxy is interoperable with Solana and its security comes from the mainnet.
It's garnered a lot of attention for its offerings, and has raised nearly $12 million in an ongoing presale.
With SOLX trading at just $0.001606, savvy investors are scooping up the token in droves.
Prices increase within 2 hours. It's the best time to buy SOLX.
Those who buy SOLX now will also have the chance to stake, 305% APY.
Join the project's community on X and Telegram to stay informed of the latest developments.
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Solana reaches gridlock amid $MELANIA traffic jam: It's time for Solana Layer-2 The post appeared first on 99Bitcoins.
