This article will again rest the question of the announcement or the rise. This in order to know which origin ends up triggering the fact of talking about the other. And this is exactly what seems to be shaking the Solana network right now. This follows a real explosion in the price of SOL cryptocurrency over the last few weeks. But also because of the announcement of a mysterious event answering the code name “Ignition”. The latter scheduled to start this August 31, that is to say tomorrow…
The cryptocurrency market does not need a very large blast to ignite at the edge of explosion. A reality that sometimes flirts with arson when it comes to a certain arsonist recidivist named Elon Musk. Which requires keeping a bucket of water on hand, to cool off ideas when everyone takes a heat stroke. But also to know how to recognize a significant rise that could well hide an announcement that is just as important. Even if the latter is done in fiery teasing mode.
A question that is currently being asked about the Solana project. This following an increase in SOL cryptocurrency more than 200% in August alone. A movement that does not seem to bother with significant resistance since it has just crossed the$100 mark. This is a first and a new ATH within this uptrend.
A price level that could well force the GROUND to make a break. And that currently puts it at$ 99.70 at the time of writing this article. Perhaps waiting for the actual revelation of this announcement Ignition scheduled for tomorrow. The question is worth asking…
Solana and her burning operation ” Ignition “
The world of cryptocurrencies is conducive to speculation. A reality that does not lie the different hypotheses in relation to the publication on Twitter of the Solana project last weekend. A simple image of a lighter whose flame is in the colors of this network. And whose text presents only a countdown with a link to the page of this mysterious Ignition. As well as a date that indicates August 31. No more was needed.
And the lighter certainly helping, the first speculations on the subject touched on the possibility of a (new) burn procedure. Especially if we consider that the term “ignition” translates as ” ignition “. This in relation to the tokenomics of the SOL cryptocurrency. The latter already subject to this type of programmed destruction. In particular as part of the settlement of transaction fees on its network. What is supposed to allowensure the limitation to 500 million units in total. Because at the same time, new tokens are regularly created according to a schedule of disinflationary inflation. This is with the stated aim of Solana to stabilize its supply according to a “predetermined long-term inflation rate”.
Is this event called Ignition related to this internal management of the SOL cryptocurrency supply? Many speculators argue that this is unlikely to be the case. Because for what reason to make such an announcement if it is only a classic procedure. So the truth would be somewhere else…
An announcement related to developers
This leaves room for the second hypothesis in the face of this mysterious “ignition”. The latter believing that all this would in fact be the launch of new features on the Solana network. And in particular a simplified procedure to allow the development of new decentralized applications (dApps) within its ecosystem. A prediction that relies largely on the text present on the single homepage of this ad. And who mentions a phrase just as enigmatic as the rest of this operation : “The sky is the limit. What are you gonna throw ? »
This with the use of the term “launch” which can not prevent to refer to these launch platforms (launchpads) that flourish on the different networks. And that could well be related to a development procedure offering opportunities whose only limit would be the imagination of the developers involved. This in areas such as the NFTs market which has recently recorded significant successes on this network. Especially with the Degen Apes Academy project largely inspired by the Bored Apes Yacht Club launched on Ethereum. And who managed to raise not far from 6 million dollars in a few minutes for images of monkeys with random rarities.
Anyway and whatever the assumptions, the answer to this Ignition will be known tomorrow. To see if its importance will live up to the speculations of the community. And whether it will consolidate the current rise of cryptocurrency SOL. Unless it’s the other way around…
This article deals with the news of cryptocurrencies. This is not financial investment advice. Any position must be accompanied by personal research and requires to cross several sources before launching. DYOR !
