Solana (SOL) Layer 2 scaling solutions have surged more than 41% this week after recent gusts of the exchange list, despite the wider crypto market slump.
Solayer (Layer) is a blockchain network designed for high throughput and zero latency.
The network is billed as “infinitely scalable” and is designed to handle transactions per second (TPS).
I’ll explain the project,
“Solayer is a protocol for developers who want to decentralize application performance in Solana. It aims to increase network access reliability while reducing the associated costs by up to 50 times.”
Solayer’s new native token Layer is trading at $1.21 at the time of writing, starting at $0.857 a week ago. Cryptocurrencies, ranked 216th by market capitalization, have also increased by more than 18% in the past 24 hours alone.
The layer was released in February. That same month, Singapore-based Crypto Exchange Bitget and Seychelles-based Exchange MexC both deployed asset trading services.
Earlier this month, the layer listed with San Francisco-based Exchange Kraken, and this week Hong Kong-based Hashkey Global, also made the token available.
Despite layer profits this week, the asset is down more than 14% from its all-time high of $1.41, according to Coingecko data.
Generated Image: Midjourney
