Wake up, PayPal just added support for two new cryptocurrencies in the US—and it could be huge for altcoins!
Unless you consider reading PayPal’s help center a hobby, you probably missed the addition of Solana ($SOL) and Chainlink ($LINK) to its list of supported cryptocurrencies in the US and its territories.
The addition of these two coins expands the digital payment platform’s crypto lineup, which also includes its own PayPal USD ($PYUSD), Bitcoin ($BTC), Ethereum ($ETH), Litecoin ($LTC), and Bitcoin Cash ($BCH).
You can’t send $SOL and $LINK to supported external crypto wallets just yet, though.
Solana Remains the Second-Largest Chain, but Solaxy Can Make It Even Better
When it comes to size, nothing currently touches Ethereum. But Solana is gradually making headway.
In a report by Messari, the chain’s GDP jumped from $268M in Q3 2024 to $840M the following quarter, translating to a whopping 212.8% growth.
It also became the second-biggest chain by DeFi TVL, representing the total amount of assets currently deposited in a DeFi protocol, with $8.6B in Q4 2024.
While Solana is one of the world’s biggest blockchains, it’s not perfect. Customers often complain about delayed transactions and service disruptions, which negatively impact user experience. But one project wants to change that.
Enter Solaxy ($SOLX), a Solana Layer 2 blockchain that aims to address Solana’s common pain points like network congestion, failed transactions, and scalability limitations.
Powering this project is its native token $SOLX. It’s a multichain token that will also become available on Solana and Ethereum just like $PYUSD.
This brings together the best of the two blockchains: Ethereum’s DeFi and asset tokenization ecosystem, and Solana’s speed and low fees.
The project is currently preselling its $SOLX token. It’s the first of its 4-Phase roadmap, which will eventually see the token being listed on DEXs and CEXs, the full deployment of the Solaxy Layer 2 network, and further expansion of its ecosystem.
$SOLX is still very affordable at $0.001682 each. But another price increase will happen in a few hours, so it’s always best to buy sooner than later. After all, analysts expect $SOLX to grow exponentially in the next five years (up to $0.043 by 2030).
Other investors think so too, which has helped the project raise over $28.9M to date, easily establishing it as one of the best altcoins.
When you look at the project’s tokenomics, you’ll immediately notice that it set aside the biggest chunk of its token supply for development (30%). This signals that the team is serious about making a solid product that can help greatly improve Solana.
You can learn more about Solaxy by reading its whitepaper or following it on X.
The PayPal Announcement Bodes Well for Solana and Solaxy
Aside from giving users more crypto options on PayPal, adding Solana also helps increase the blockchain’s value and its native token.
As such, related projects like Solaxy benefit too, especially since this one adds much-needed improvements to Solana.
But as always, do your own research before you invest in volatile crypto like meme coins. This helps improve your chances of success and limit your risk. After all, the crypto market can be highly volatile and could quickly lose you money unless you’re careful.
