SOL burn? Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed By Cointelegraph

SOL burn? Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed

CryptocurrencyAug 31, 2021 05:40AM ET

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SOL burn? Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed

Solana (SOL) prices rose on Monday as traders speculated on what appeared to be a key but mysterious feature launch scheduled for later this week.

The SOL/USD exchange rate climbed to a new record high of $103.06 following a 9.35% intraday rally. The upside move surfaced days after Solana introduced “Ignition” on its official media handles. However, the team provided little details about the tool but prompted the community to guess that it would be about burning SOL tokens.

Snapshot from Solana's official Reddit community page concerning Ignition. Source: Reddit

SOL/USD daily chart. Source: TradingView

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SOL burn? Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed

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