Solana Utility Tokens Show Strength as Raydium, Jupiter See Big Monthly Gains and Solaxy Presale Nears $33M

By: coin central|2025/05/02 11:15:01

Solana’s (SOL) push past the $150 mark in late April has helped Raydium (RAY) and Jupiter (JUP) achieve impressive growth, underscoring investor interest in Solana’s ecosystem.In the meantime, a new entrant called Solaxy (SOLX) raised over $32.6 million through its ongoing presale as it builds a Layer-2 to boost the Solana network.Will Solana-based tokens continue to show strength as we enter into May?Raydium and Jupiter Appear Ready for Further Gains This Summer as Solana GrowsAlthough Raydium and Jupiter faced a steady decline since January, led by Solana’s downturn that saw its price dip from $256.07 on January 26th to $96.92 in early April, both tokens are making a recovery, setting the stage for further gains throughout Q2 2025.Raydium, Solana’s most popular automated market maker (AMM) and one of its largest DEXs, is a key infrastructure piece in Solana’s ecosystem. Its integration with other Solana-based protocols and ongoing feature rollouts cemented its reputation as a cornerstone of Solana’s on-chain activity.Boasting a massive growth of 61.18% between the 1st of April and May, Raydium sent a shockwave through the market with the release of its LaunchLab, a token launchpad that makes it easier than ever to create and deploy tokens.With LaunchLab’s cumulative volume already surpassing $100 million, RAY achieved impressive results thanks to the boost in visibility, and crypto expert Shelby expects it to only keep soaring.$RAY #Raydium https://t.co/EG4ONFChyF pic.twitter.com/bnUn6TzSXg— Shelby (@CryptoNewton) April 27, 2025The expert believes Raydium has the potential to reach $3.7 before July, which would position it above its 200-day Simple Moving Average (SMA) of $3.59, often a bullish signal for long-term growth.Jupiter is also thriving as Solana’s largest DEX aggregator that provides the best prices by routing trades through multiple DEXs, including Raydium. Offering advanced trading features and a user-friendly interface, Jupiter is equally attractive to retail and institutional traders.Although its gains of 13.07% over the past 30 days aren’t as impressive as Raydium’s, technical analyst AMCrypto believes JUP can break out of its long-term descending channel.Expecting it to stabilize above the $0.5 mark, fueled by renewed investor interest in Solana’s ecosystem, the analyst anticipates a 30% surge for the token during May.The token’s technical indicators support the bullish sentiment, as its long/short ratio soared to 1.75 on May 1st, indicating that the majority of traders believe in its short-term growth potential.Additionally, the token’s growth throughout April positioned it above its 50-day SMA of $0.46, while its Relative Strength Index (RSI) of 56.92 indicates there’s plenty of room for growth before it reaches overbought territory.Solaxy Seeks to Capitalize on Solana’s DeFi Momentum – Experts See 10X PotentialWith its upcoming token launchpad and cross-chain swaps between Ethereum, Solana, and Base, Solaxy’s ecosystem draws inspiration from both Raydium and Jupiter and aims to streamline token creation while allowing investors and developers to tap into Ethereum’s massive liquidity pools.The Solaxy ecosystem will also boast a Layer 2 blockchain for Solana that aims to enhance its mainnet’s scalability by processing bundled transactions off-chain.Its introduction could resolve Solana’s notorious congestion issues, which surface during high-traffic hours and often lead to failed or slow transactions. With the Layer 2 blockchain’s development in full swing, Solaxy’s developers released a testnet version of the ecosystem’s block explorer.The implementation of Solaxy’s Layer 2 solution may result in faster transactions and lower gas fees, which has experts from 99Bitcoins excited about its launch.Highlighting the impressive performance of Solana and tokens belonging to its ecosystem, as well as the Crypto Fear & Greed Index’s return to neutral territory, the experts believe Solaxy could skyrocket by 10x on launch amid the near-ideal market conditions.The experts encourage their 724,000-strong audience to enter the presale while the token is still selling at a discount, currently priced at $0.00171, as it is approaching its final stage and first DEX listings.Visit Solaxy PresaleThe post Solana Utility Tokens Show Strength as Raydium, Jupiter See Big Monthly Gains and Solaxy Presale Nears $33M appeared first on CoinCentral.

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