Solana Surges to April High as Coinbase Upgrades and Canadian ETFs Fuel Rally

Solana (SOL) has reached its highest price this month, driven by the launch of staking-enabled ETFs in Canada and significant infrastructure upgrades on Coinbase. The cryptocurrency is trading at nearly $136, marking a 6% daily gain and a 23% monthly surge.

Solana Hits Highest Price This Month Amid Coinbase Upgrades, Canadian ETF Launches

The price of Solana (SOL) rose to its highest price so far in April on Thursday, outpacing other top coins following the launch of multiple Solana ETFs in Canada with staking capabilities, along with long-awaited Solana infrastructure upgrades at centralized exchange Coinbase. Solana is currently trading for nearly $136, reaching that level for the first time since March 28. SOL is up 6% on the day and nearly 23% over the last week, making it one of the biggest gainers in the top 100 coins.

Coinbase Upgrades Solana Infrastructure to Address Outage Issues

Coinbase has performed significant upgrades to its Solana infrastructure in response to user complaints about slow transactions and outages. The improvements include asynchronous transaction processing, leading to a 5x improvement in block processing throughput, and leveraging bare metal machines. These upgrades were implemented for Solana (SOL) transfers on both the Coinbase centralized exchange and the Coinbase Wallet.