Why Is Solana Rising Overnight On Thursday?

Aniket Verma

April 17, 2025

Solana (CRYPTO: SOL) sustained its upward momentum Thursday overnight, as cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) scaled up its infrastructure to support faster, smoother SOL transactions.

What happened: SOL rose over 3% over the previous day, becoming the most successful among the top 10 cryptocurrencies by market capitalization. The rally came despite a 20% drop in trading volumes in the last 24 hours.

The sixth-largest cryptocurrency hit an intraday high of $135.91, its highest in nearly three weeks. Its weekly gains widened to 18.13%, outpacing Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

See Also: Solana Breaks Free From Bitcoin, Ethereum Lag After Cathie Wood’s Ark Invest Accumulates New SOL Staking ETF

The latest spike comes after Coinbase upgraded its system, enabling a 5x improvement in transaction throughput, among other enhancements for Solana.

"These improvements enable faster, more reliable sends and receives, reinforcing our commitment to provide industry-leading performance and reliability for our users," the exchange said.

We've been hard at work scaling our @Solana infrastructure to be faster, more resilient, and more scalable.

We have upgraded our systems to:
â†’ Process transactions asynchronously, leading to a 5x improvement in block processing throughput.
â†’ Leverage bare metal machines for 4xâ€¦ pic.twitter.com/WFINzCutNK
— Coinbase Platform (@CoinbasePltfrm) April 17, 2025

Additionally, Cathie Wood's Ark Invest increased its exposure to 3iQ Solana Staking ETF (SOLQ.U ), scooping an additional 475,000 shares of the newly launched investment vehicle in Canada.

Listed on the Toronto Stock Exchange, the ETF shares closed 0.87% higher at $10.43 on Thursday.

Price Action: At the time of writing, SOL traded at $134.96, up 3.25% in the last 24 hours, according to data from Benzinga Pro.

Shares of Coinbase were down 0.02% in after-hours trading after closing 1.64% higher at $175.03 during Thursday’s regular session.

Coinbase is now placed among high-growth stocks in the Benzinga Edge Stock Rankings. Click here to analyze other cool metrics about the stock.

Photo: Lee Wa Da/Shutterstock

Read Next:

Bhutan Flexes Hydropower For Bitcoin Mining, Explores Sale Of ‘Green’ Coins

Recommended

We've Seen This Before... and It Didn't End Well - Ad

[Revealed] The $100 Starlink Pre-IPO Blueprint! - Ad

Jensen Huang's Secret Masterplan Revealed - Ad

Bill Ackman is set to introduce a fresh proposal for mortgage-finance titans Fannie Mae and Freddie Mac.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

Are You Stockpiling This "Safe" Asset?

Are You Stockpiling This "Safe" Asset? - Ad

While the top 1% rake in trillions, millions of "regular" investors are parked in a "safe" asset that could be cheating them of a chance to multiply their wealth. If you're one of them, you need to watch this free video - it explains exactly which stock to buy immediately and how a "Melt Up Tsunami" could send even more stocks soaring higher.

MacKenzie Scott Has Donated More Than $19 Billion, Yet Her Wealth Grows Faster

MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated a staggering $19.25 billion since 2020.

VinFast's Losses Mount As It Burns Cash To Cement Global EV Presence

Vietnam's VinFast Auto Ltd. (NASDAQ: VFS) shares fell after reporting Q3 fiscal 2025 results. Loss per share of 41 cents missed estimates.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Trump's $2,000 Tariff Checks Gain Steam As Sen. Katie Britt Says Senate Should 'Take A Look' Amid Soaring 18% Consumer Tariff Burden

Momentum building for Trump's push for $2,000 tariff-funded payments as GOP lawmakers express openness. Treasury Sec. suggests income limits.

Average US long-term mortgage rate ticks up to 6.22% after four straight weekly declines

The average rate on a 30-year U.S. mortgage ticked up for the first time in five weeks after falling to its lowest level in more than a year last week.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit the most.

France threatens to block Shein over sale of childlike sex dolls ahead of Paris store opening

PARIS (AP) — French authorities have warned they may block access to after it emerged that the online fast fashion giant had been selling sex dolls with a childlike appearance.

Jim Cramer: Chipotle Is 'Too Expensive,' Buy This Plane Maker

On "Mad Money," Cramer discusses Henry Schein, Bloom Energy, Tyler Technologies, Boeing and Chipotle Mexican Grill.

Buy This Gold Stock Before the New Year

Buy This Gold Stock Before the New Year - Ad

America is about to see a massive shift in how regular people buy and store gold. Next year, the world's largest gold buyer is expected to launch a new way for everyday Americans to invest in gold with a simple tap on their phone - and it could go live in 2026. When it does, a tiny gold stock trading around $1.60 could explode.

Can Solana Do What Bitcoin Can't? Amplify's New ETF Aims For 36% Income

Amplify ETFs, the issuer known for thematic and income-driven fund products, has just launched the Amplify Solana 3% Monthly Option Income ETF (BATS:SOLM), a first-of-its-kind product combining the growth momentum in Solana (CRYPTO:

Bill Gates' Daughter Phoebe's AI Shopping Assistant Found Collecting Extensive User Data: Report

Phia, co-founded by Phoebe Gates, has been found collecting extensive user data through its browser extension, raising privacy concerns.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Some Social Security Recipients Won't Have To Wait Until 2026 For COLA Hike

Social Security and SSI recipients will receive a 2.8% cost-of-living adjustment in 2026, with SSI beneficiaries seeing the increase a day earlier due to a federal holiday.

James Comey Prosecution Hits Snag After Trump Loyalist Attorney Makes Legal Error

The judge questioned the validity of Comey's indictment, citing flaws in the grand jury process and potential political motivations.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

Congress approves measure to overturn Biden-era management plan for Alaska petroleum reserve

JUNEAU, Alaska (AP) — Congress has passed a measure to overturn a plan enacted during the Biden administration that put off limits to oil and gas leasing nearly half a vast petroleum reserve in Alaska. Critics see the vote as political meddling that creates confusion over the future management of the .

UPS cargo plane with 3 aboard explodes on takeoff at Louisville airport, igniting huge fire

LOUISVILLE, Ky. (AP) — A large UPS cargo plane with three people aboard crashed Tuesday while taking off from an airport in Louisville, Kentucky, igniting an explosion and massive fire that left a thick plume of black smoke over the area.

We've Seen This Before... and It Didn't End Well

We've Seen This Before... and It Didn't End Well - Ad

Strange events are unfolding in the global financial system. A monetary reset dubbed the "Mar-a-Lago Accord" is quietly in motion, and the financial elite are already taking protective action. If history is any guide, you could lose up to 40% of your wealth in the next two years. Move your money before it's too late.

Landmark Paris Agreement set a path to slow warming. The world hasn't stayed on it

The world has changed dramatically in the decade since leaders celebrated a a decade ago, but not quite in ways they expected or wanted.

Jensen Huang Explains Why He Loved His Dishwashing Job — Nvidia CEO Pours Cold Water Over Popular Idea Of Finding 'Something You Love'

Nvidia CEO Jensen Huang shares his unconventional view on passion and work, emphasizing the value of commitment and dedication in creating passion.

[Revealed] The $100 Starlink Pre-IPO Blueprint!

[Revealed] The $100 Starlink Pre-IPO Blueprint! - Ad

Fortune reports Starlink's rumored IPO is set to be the single largest IPO in history. James Altucher has uncovered a way to get a pre-IPO stake BEFORE Starlink goes public. All it takes is just a few minutes of time and as little as $100 to get started.

Pizza Hut's parent company says it's considering selling the chain

Pizza Hut could soon be up for sale.

Rand Paul Warns Of 'Farmageddon' As Tariffs Hit Farmers, Says Supreme Court Must Rein In Trump's Executive Tax Power

Sen. Rand Paul issued a warning about the impact of tariffs on farmers, calling them an unconstitutional exercise of presidential power.

Jensen Huang's Secret Masterplan Revealed

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Trump's 50-Year Mortgage Plan, Sanders Critiques Musk, Trump Backs Crypto And More: This Week In Politics

Weekend headlines: Trump's 50-year mortgage plan, Sanders criticizes Musk, Trump backs crypto, Scaramucci on NYC mayor, Mamdani challenges Trump.

Flying-Taxi Maker Archer Loses Altitude As Investors Question Costly Airport Move

Archer Aviation Inc. (NYSE: ACHR) shares down on Q3 results and plans to acquire Hawthorne Airport for $126 million.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Snowflake's CRO Mike Gannon's Instagram Interview With Influencer James Dumoulin Triggers SEC Filing

Snowflake has filed an 8-K document with the EC following an interview of its Chief Revenue Officer by a social media influencer.

Arnold Schwarzenegger Says You Are Only Allowed To Complain About A Problem If You Can Do This: 'I Don't Want To Hear Your Whining'

Arnold Schwarzenegger believes in taking action instead of complaining. He applies this rule to various areas of life and urges others to do the same.

Are You Stockpiling This "Safe" Asset?

Are You Stockpiling This "Safe" Asset? - Ad

TSLA, PLTR, IREN And More: 5 Stocks That Dominated Investor Buzz This Week

Retail investors talked up five hot stocks this week (Nov. 3–7) on X and Reddit's r/WallStreetBets: TSLA, PLTR, MSTR, AMD, IREN.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

What to know about 10% reduction in flights at U.S. airports caused by the government shutdown

NEW YORK (AP) — are among those facing 10% reductions in air traffic Friday due to the .

Trending Now