- Solana has seen a 23% price surge fueled by the launch of Canada’s first spot Solana ETFs with staking features and a spike in meme coin trading that pushed onchain volume to $3.79 billion.
- Coinbase responded to increased demand by upgrading its infrastructure, delivering 5x faster transaction speeds and enhanced system reliability for Solana users.
Coinbase has responded to user frustrations with a major infrastructure upgrade designed to boost Solana’s performance. The update comes as Solana’s ecosystem sees record-breaking activity driven largely by meme coin mania and the launch of Canada’s first spot Solana ETFs.
Solana Gets a 5x Speed Boost from Coinbase
After widespread complaints about delays in depositing and withdrawing SOL, Coinbase has stepped up. The exchange announced enhancements that deliver five times faster transaction throughput, significantly improving the speed and reliability of SOL transfers. These improvements include asynchronous transaction processing, stronger failsafes, enhanced remote procedure call (RPC) performance, and liquidity optimizations.
In a January post, Coinbase admitted that a tenfold increase in transaction activity had overwhelmed its systems, causing users to wait hours for basic transactions. This upgrade is aimed at preventing such issues in the future and better supporting the ever-growing Solana ecosystem.
Meme Coins Spark Unprecedented Activity
Solana’s transaction volume recently hit an all-time high of $3.79 billion, with over 4.5 million active addresses fueling the network. Much of this volume has been driven by the explosive popularity of meme coins—some of which were launched by high-profile political figures. The craze began before President Trump’s token debut, suggesting a sustained interest in Solana-based meme assets.
This surge in activity has boosted Solana’s visibility and driven higher demand for improved infrastructure across all platforms, with Coinbase leading the charge.
ETF Launches Add to Solana’s Momentum
Solana’s price has jumped 23% in the past week, now trading around $133.32, cementing its position as the sixth-largest cryptocurrency by market cap. This rally is largely attributed to the launch of Canada’s first spot Solana ETFs, which include staking features—offering investors passive income through blockchain participation.
While these ETFs are only available in Canada for now, U.S.-based firms like VanEck and Bitwise have filed applications with the SEC for similar products, potentially unlocking further demand in the near future.
With Coinbase optimizing Solana’s infrastructure, meme coins capturing global attention, and ETF adoption on the rise, Solana is quickly positioning itself as a dominant force in the next wave of crypto evolution.
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