The price of Solana reached record levels on Monday, August 30, 2021, while Bitcoin is trying to break the resistance of $ 50,000.
In particular, the SOL / USD exchange rate climbed to a new record high, at $ 103.06, after a daily rally + of 9.35%.
The rise was observed after the launch of the Ignition tool, with traders speculating that it is a "tool" for burning coins.
The speculation was mainly due to an Ignition teaser.
It should be noted that, as a public blockchain, Solana relies on SOL for two main functions: staking and transaction fees.
The protocol burns some of the transaction fees it collects to limit the SOL supply.
Now Bitcoin, at the time of writing these lines, touched $ 48,000.
Analysts are divided on whether the cryptocurrency's subsequent course is up or down.
All show some key points that will define the course of things.
The dollar fell as equities hit new highs:
Shares were at an all-time high following a speech by Fed Chairman Jerome Powell at Jackson Hole.
Accordingly, the dollar was hit, with the dollar index falling for several days.
Such conditions, if nothing else, are favorable for Bitcoin.
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