Solana (SOL) has lit up the crypto market this week, surging to its highest levels in April amid bullish news sparking renewed interest in the Layer 1 blockchain network.
Solana (SOL) has lit up the crypto market this week, surging to its highest levels in April amid bullish news sparking renewed interest in the Layer 1 blockchain network.
The digital asset is currently changing hands around $134.6, peaking at $136 earlier – its highest point since March 28.
A Double Catalyst: Canada + Coinbase
Solana’s impressive 15% price jump over the last week can be traced directly to Wednesday’s debut of spot Solana ETFs in Canada.
Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers incl Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD pic.twitter.com/FSw149Xkm4
— Eric Balchunas (@EricBalchunas) April 14, 2025
Issuers such as 3iQ, Evolve, CI, and Purpose now offer Solana ETFs with integrated staking, meaning investors not only gain price exposure but also earn staking yield.
This move sets Canada apart as the first country to roll out these innovative instruments for SOL—something the US SEC has yet to greenlight, although firms like VanEck, Bitwise, and 21Shares are actively pursuing approval.
Adding fuel to the fire, Coinbase unveiled a technical upgrade that drastically enhances its support for Solana.
We’ve been hard at work scaling our @Solana infrastructure to be faster, more resilient, and more scalable.
We have upgraded our systems to:
→ Process transactions asynchronously, leading to a 5x improvement in block processing throughput.
→ Leverage bare metal machines for 4x… pic.twitter.com/WFINzCutNK— Coinbase Platform (@CoinbasePltfrm) April 17, 2025
By optimizing block processing throughput 5x and improving RPC (remote procedure call) performance by 4x via bare metal machines, Coinbase aims to make Solana transactions on its exchange far faster and more reliable.
Solana (SOL) Price Analysis – Where Is SOL Heading Now?
From a technical standpoint, SOL is attempting to break out of a classic bullish falling wedge pattern.
At press time, SOL is eyeing a breakout of the pattern. The target of the wedge from the breakout point of $130 is $100.
As a result, Solana might be targeting $230 to $300 after a successful breakout.
SOL Price Chart. Source: TradingView
Solana (SOL) is flashing early bullish signals, with RSI now above 55 and showing steady upward momentum.
A breakout above the descending wedge pattern could confirm a trend reversal, especially with RSI approaching the 60–65 range where parabolic moves often begin.
MACD has just flipped bullish, with the MACD line crossing above the signal line and histogram bars trending higher – suggesting SOL may be gearing up for a major breakout.
Solana-Based Solaxy Raises $30.5M in Presale as Investor Demand Surges
As SOL targets higher levels, Solaxy ($SOLX) emerges as a game-changing Layer 2 built to fix Solana’s biggest issues – congestion, failed transactions, and limited scalability.
By enhancing Solana’s speed and low fees while bridging Ethereum’s liquidity, Solaxy positions $SOLX as a high-utility token at the heart of a next-gen ecosystem.
With staking available during the presale and prices increasing in each round, early buyers have a rare chance to get in early and earn while supporting Solana’s evolution.
Source: Solaxy
Solaxy has already raised a massive $30.5 million in its ongoing presale, with just 1 day and 8 hours left before the next price hike.
Early adopters can stake their $SOLX tokens during the presale and earn an impressive 133% APY while supporting the network’s growth.
Backed by a fast-growing community of 65,000 followers on X and over 13,000 Telegram subscribers, Solaxy is gaining momentum as the future of Solana takes shape.
$SOLX can be bought at $0.001698 by visiting the official Solaxy ($SOLX) website and connecting a wallet like the Best Wallet.
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