[WATCH] Solana ($SOL) Crosses the $100 Milestone Hinting a Major Feature Announcement

The Solana token (SOL) crossed $100 going as high as $103, a new milestone for the DeFi protocol native token.

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The Solana token (SOL) crossed $100 going as high as $107, a new milestone for the DeFi protocol native token.

This latest price jump is being attributed to a new feature set to be released from the teaser above that contains a link to a web page called Ignition.

Speculation persists as to what the “Ignition” event could be all about, with the theme suggesting a token burn event. The Solana protocol burns a portion of transaction fees so as to keep circulation below the 5 billion tokens that are issued.

However, previous token burns have not received media exposure like this.

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SEE ALSO: Solana Token Hits All-Time High of Over $90 and Up Over 4,300% in 2021 So Far

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The link to the ‘Ignition’ page includes the following announcement:

The sky’s the limit. What will you launch?

August 31st – October 8th

          – Solana Ignition, Website

This makes it more likely that Ignition will be a feature launch with speculations on the Solana Reddit Community Page expression their opinions below:

The Solana protocol, which is increasingly getting popular due to its much faster throughput at 1,423 transactions per second (T/s) compared to 15 T/s on the rival Ethereum, has risen by over 4, 300% in 2021 so far.

The token’s growth has been a trend throughout August 2021 which has seen it gain more than 175% since July 2021.

Besides having better efficiency, Solana’s performance can also be attributed to:

  • The sale of all 10,000 non-fungible tokens (NFTs) of the Degenerate Ape Academy collection which saw the token price go up 20%
  • Digital asset management firm, Osprey Funds, registering a first-of-its-kind Solana fund with the U.S. Securities and Exchange Commission (SEC), indicating an intention to offer institutional exposure to SOL markets

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RECOMMENDED READING: Total Value Locked on Solana Blockchain Now Surpasses $2 Billion

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