InstaForex

September 1, 2021

Just 3 Reasons, Solana Rocketed Over $ 130!

 It looks like Solana’s (SOL) style doesn’t want to give up, continuing to outperform other altcoins with a jump to the latest all -time high (ATH), $ 130.11 last night local time.


This makes a record SOL increase of over 40% from the daily lowest price on Aug. 29, $ 90.34.


Earlier, Solana's surge was rumored to stem from the launch of Degenerate Ape Academy on the network when the non-fungible token (NFT) market was heating up.


However, this time SOL's positive movement yesterday was apparently driven by the teaser recording of "Ignition" which was uploaded on its official Twitter page on 28 August.


T-minus 3


2


1 https: //t.co/QKtI2gJulh, coming August 31. pic.twitter.com/UTiWbf2T7n


- Solana (@solana) August 27, 2021


Ignition, a virtual hackathon with rewards of up to $ 5 million is reported to run from August 31 to October 8, 2021.



For the record, this is the 4th hackathon project undertaken by Solana, an opportunity opened to developers to experiment and leverage the Solana blockchain by creating decentralized finance (DeFi) related projects, blockchain games, Web3, and NFT.


Two more good news related to Solana's price movement:


August 24 - Digital asset management, Osprey Funds has registered Solana funds with the Securities and Exchange Commission (SEC).


August 25 - Pyth Network broadcasts in Solana. Pyth Network is a provider of data sourced from exchanges and trading firms, and at the same time covers global market activity.


Pyth is also said to be using Solana’s cross-chain communication protocol, Wormhole to broadcast market data with decentralized applications (dApps) that work on Ethereum, Binance Smart Chain, and Terra.


No wonder those three factors invited the Solana price craze in just a few days!


At the time of writing, SOL is trading at $ 110.24, up over 1% in 24 hours.