Why trust Greenbot
Solana’s price surges towards $140 on Monday, gaining 3% in a day as Canada’s new Solana ETF and strong network usage pushed the cryptocurrency toward an important price barrier. Traders are watching to see if it can break past $144, which could lead to bigger gains.
Purpose Investments launched the first-ever Solana spot ETF on April 17, which is now trading on the Toronto Stock Exchange under the symbol CSOL. This new investment option lets people buy Solana without managing crypto wallets themselves.
“With the growing adoption of Solana’s ecosystem in DeFi, NFTs, and gaming, we believe this ETF will bridge a critical gap for Canadian investors seeking secure, compliant access to high-growth digital assets,” said Som Seif, CEO of Purpose Investments.
The ETF launch happened alongside impressive network growth. Solana counted 28.4 million active addresses and handled 369 million transactions in just one week, beating competitors like Tron, BNB Chain, and Bitcoin.
Daily network revenue hit $4 million on April 20, reaching its highest point since February 21, according to Blockworks Research. This jump in activity shows more people are using Solana’s blockchain for various applications.
Data from Glassnode shows Solana is currently trading between two key price points. Strong support exists at $129, where many investors bought in. Major resistance sits at $144, where another large group of investors purchased tokens.
Crypto analyst Ali Martinez explained this range on X: “The most important support for Solana is at $129, while the key resistance to watch sits at $144. Price action outside of this range will set the tone.”
The positive momentum goes beyond just price increases. Solana staking deposits grew by 2 million SOL (worth approximately $270 million) over four days, which removes tokens from circulation and reduces the available supply.
Technical indicators also look promising, with the MACD gaining strength in the bullish zone and the RSI staying above the 50 level.
Some market watchers have extremely optimistic predictions. Cryptocurrency expert CryptoCurb recently claimed a Solana price of $2,000 is “absolutely realistic” given current trends. It would make its total value reach $1 trillion.
This price movement comes as cryptocurrencies broadly gain strength, with Bitcoin passing $87,000 as President Donald Trump’s push against Federal Reserve Chair Jerome Powell weakened the US Dollar.
