SOL breaks past $136 after Canadian ETF launches and Coinbase infrastructure boost

On April 17, Solana reached its highest price in weeks — $136. This was the first time it hit that level since late March. A 6% jump in just one day made it one of the top-performing coins at that moment.

Solana broke past the $136 mark on Monday as the Canadian exchange-traded funds (ETFs) for the token began trading. The Solana price rose by 6% in the past 24 hours, making it one of the best-performing major coins at the moment.

The new ETFs, introduced by 3iQ, Evolve, CI, and Purpose, provide a convenient way for Canadians to invest in Solana. These ETFs also offer a staking feature, allowing buyers to receive regular incentives while their SOL supports the network. This sets the Solana ETFs apart from Bitcoin and XRP ETFs, which don't have a staking option.

The introduction of Solana ETFs could attract more large buyers who are interested in participating in the real use of the network, as opposed to simply observing price movements.

Earlier this month, Coinbase announced significant changes to how it handles Solana transactions on its exchange. The new system, which went live on April 5, brings several improvements, including:

These changes address issues that arose earlier this year, particularly during periods of heavy exchange activity, such as the launch of Trump-related meme coins, which caused transaction delays and errors on Coinbase.

In January, Coinbase stated its intention to upgrade how it handles Solana transactions on its platform to mitigate such issues and provide a smoother trading experience for users.

The email notification also includes a chart shared by Coinbase, highlighting a significant reduction in transaction delay times since the introduction of the new system.

After the switch, transaction delays have decreased to minimal levels, while previously, they could be quite substantial, especially during periods of high market volatility or new coin launches.

This change in architecture has also improved the efficiency of handling large volumes of transactions, which is crucial for Coinbase to handle the influx of users and trading activity on its platform.

As of April 16, data from Defillama, shared by Blockworks, showed that Solana apps accounted for 70.4% of all financial outcomes across the cryptocurrency market.

This percentage is higher than the combined contributions of other major blockchains, highlighting the significant role Solana plays in the decentralized finance ecosystem.

For instance, the total value locked (TVL) in Ethereum DeFi protocols was 19.4%, while Bitcoin DeFi protocols contributed 9.3%.

This data point underscores the real-world use and engagement levels within the Solana ecosystem, showcasing the chain's popularity among builders and users.

Many are now turning their attention to early-stage gems with real utility and potential for upside.

Minotaurus (MTAUR) is a presale token that has been quietly building pressure. It’s also one of the few presales to stay running despite the market downturn and the wave of impermanent loss.

The token is priced at 0.00010962 USDT and runs on the Binance Smart Chain. It’s also been fully audited by SolidProof and Coinsult.

MTAUR will be used to power the upcoming Minotaurus game, a Web3 project that fuses mythology, maze exploration, and blockchain mechanics for a unique gaming experience.

Join the Minotaurus community today and be a part of the future of web3 gaming!

Website: https://minotaurus.io/

Telegram: https://t.me/minotaurustokenofficial

Twitter: https://twitter.com/MinotaurusToken

In other news, a new report by CCXV and CCXI provides a comprehensive analysis of the Canadian closed-end investment trust market. The report, titled "Canadian Closed-End Investment Trusts: A Deep Dive," delves into the unique characteristics, investment strategies, and performance trends of closed-end funds in Canada.

The study found that closed-end funds offer investors a distinct investment vehicle with several advantages and disadvantages to consider. They typically invest in concentrated portfolios of equities, real estate, or other assets, aiming to provide targeted exposure and income potential.

The report also examined the performance of closed-end funds in various market cycles and economic conditions. The researchers observed that closed-end funds have generally outperformed open-end mutual funds in the long term, particularly in periods of high market volatility.

The findings provide valuable insights for investors seeking to diversify their portfolios and optimize their investment returns in the Canadian market.

As the market continues to evolve, understanding the nuances of closed-end funds can be crucial for making informed investment decisions.