Are Solana Layer 2 Solutions About to Trigger Next Solana Frenzy?

The Solana network, once hyped as a blockchain powerhouse for its speed and cost-efficiency, is losing momentum and Solana layer 2 solutions are trying to fix that.

Transaction fees, active addresses, and activity on platforms like pump.fun are all in a slump, casting doubt over its future. Behind the scenes, moves like Sol Strategies snapping up validators and the looming SIMD-0228 vote are setting the stage for what comes next.

Transaction Fees at Historic Lows, Enter Solana Layer 2 Solutions

Last week, the Solana network generated just 53,800 transaction fees, marking its lowest weekly total since September 2024. The figure represents a 10% drop from the prior week, which, while an improvement over the 25% average weekly decline recently, still paints a bleak picture.

What’s more striking is how far Solana has fallen from its peak.

In January, during the launch of the high-profile $TRUMP and $MELANIA meme coins, transaction fees hit an all-time high of 361,000 SOL. Now, revenues are down more than 85% from that milestone.

Adding to the slump, validator tips through Jito, a mechanism where users pay extra to speed up transactions, averaged just $11,300 per day last week. That’s a massive decline from the $62,000 daily average recorded during the January memecoin frenzy.

DISCOVER: The Best Solana Meme Coins to Buy in The March 2025 Dip

What Does SIMD-0228 Mean for Solana?

The data doesn’t lie. Solana’s user base is losing steam, with a 35% drop in active addresses since January.

Apathy and market hesitation are taking a toll, leaving the once-thriving blockchain grappling with waning enthusiasm. Pump.fun, a key player in token launches, is faltering, too. Only 0.89% of its tokens moved on to Raydium last week, a sharp fall from the 1.6% average during Solana’s January high.

However, Sol Strategies’ bold moves come at a critical time. A governance vote on SIMD-0228, a proposal designed to implement a market-based inflation mechanism, has investors and validators paying close attention. The measure aims to reduce SOL issuance and prevent overpayment for network security, but it will also lead to lower validator revenues.

The SIMD-0228 proposal has already garnered significant backing, with 72% of validator votes in favor as of Monday. Blockchain company Sol Strategies is among the supportive validators. If passed, the proposal could reshape Solana’s economy by tightening inflation while balancing staking rewards.

While some validators are concerned about shrinking revenues, Sol Strategies believes this shift could drive institutional interest in Solana staking services.

What Crypto to Buy Right Now? New Solana Layer 2 SOLX Is Closing in On $23M Raised

Closing in on $30 million with $250,000 rolling in daily, the $SOLX presale shows no signs of slowing. The buzz suggests it could easily surpass that milestone as Trump-era crypto strategies take shape.

For early adopters, $SOLX offers a shot at a platform engineered for cross-chain DeFi, rapid dApp deployment, and robust multi-chain compatibility.

$SOLX presale offers early participants a chance to join a project that combines multi-chain integration, high-performance dApp development, and a gateway to multichain DeFi.

Solaxy’s cross-chain bridge with Ethereum is another draw for the presale. This feature lets developers tap Ethereum’s liquidity while enjoying Solana’s low fees and fast speeds. Many observers see this bridge as a step toward broader adoption because it gives decentralized applications more flexibility.

On the investment side, the staking app is pulling serious weight with its 322% APY. More than 3.48 billion SOLX tokens are locked away, slashing circulating supply and adding a hint of price predictability to the mix. This activity may help keep prices steadier in the long run.

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