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The crypto market is green again, with Kaspa (KAS) and Solana (SOL) racking up solid gains in this latest rally.
At the same time, Solaxy (SOLX) – a new Layer-2 scaling solution for Solana – is going viral after hitting the $10 million milestone in its presale.
Kaspa & Solana Lead Market Surge as Trading Volumes Ramp Up
Kaspa is leading today’s market rebound, surging 19% to hit $0.13 – its highest level in the past 10 days.
The blockDAG-based crypto is seeing a significant boost in trading activity, with spot volumes jumping 62% as traders flock to what’s currently one of the hottest tokens on the market.
KAS is even at the top of CoinMarketCap’s altcoin gainers list.
Not far behind is Solana, which has climbed 6% to $187 after bouncing off the key $180 support level.
Rising open interest in SOL derivatives is also drawing attention, signaling that traders might be preparing for an even bigger rally.
However, SOL is still 28% below last November’s all-time high, so the popular blockchain token still has a long way to go.
Overall, after two weeks of bearish price action, the breakouts of KAS and SOL suggest there’s new momentum in the market.
It could be the start of a more extended rally for altcoins.
The Trump Effect – Crypto Market Rallies on Regulatory Optimism
The entire crypto market is making a comeback, with Bitcoin rebounding to $96,500 and Ethereum climbing to $3,200.
This rally comes as optimism grows around crypto’s regulatory future, mainly due to Donald Trump’s upcoming inauguration.
He’s widely expected to make pro-crypto appointments in key positions.
Trump has already nominated Paul Atkins to head the SEC – and Atkins is well-known for his supportive stance on digital assets.
FundStrat’s Tom Lee thinks this is huge, predicting that Bitcoin could rally to $250,000 under a more crypto-friendly administration.
And such a rally would undoubtedly benefit altcoins like Kaspa and Solana.
Adding to the upbeat sentiment is the “January Effect,” where the start of the year typically brings an increase in investment activity.
Although the first two weeks of January were the opposite, we might now be seeing this trend fall into place.
So, while recent worries about Federal Reserve interest rate decisions have kept traders on edge, the overall market mood appears to be shifting toward positivity.
Both KAS and SOL are benefiting from this change in sentiment.
Solaxy Raises $10M in Presale as Some Analysts Praise New Solana Layer-2 Network
The bullishness isn’t just impacting established cryptos – it’s also helping up-and-coming projects.
One is Solaxy, a new Layer-2 scaling solution for Solana that has just passed $10 million in presale funding.
Designed to address Solana’s scaling issues, Solaxy has been getting a lot of traction from retail investors.
Its native SOLX token is currently available to grab for just $0.0016.
However, the next presale stage will begin in less than one day, so there is limited time left to get involved at this price point.
Popular crypto influencer Crypto Gains recently talked about Solaxy’s potential, urging his followers to “get in early.”
He believes Solaxy could be huge for the Solana ecosystem as a whole.
This is because Solaxy takes an innovative approach to scaling Solana – it uses off-chain processing and transaction bundling.
By doing this, Solaxy aims to eliminate network congestion while preserving the speeds that Solana is most known for.
According to Solaxy’s whitepaper, the team is even building a bridge to Ethereum.
This bridge will create opportunities for developers/traders to connect and benefit from both blockchains.
With the broader market rebounding and Solaxy already ranking highly on CoinSniper, there is a lot of belief in this new Layer-2 project.
It could be one to watch for those seeking the next big thing in crypto.
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