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Here's Why Solana Is Making Huge Gains

TheMotleyFool

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The Solana (CRYPTO: SOL) cryptocurrency is enjoying an impressive pricing rally. Its price per token has climbed roughly 17% as of 2:30 p.m. EDT today and is up about 52% over the last five days, according to data from S&P Global Market Intelligence.

Solana's recent gains appear to be driven by excitement surrounding decentralized finance, or DeFi, initiatives and the recent announcement of a mysterious event from the cryptocurrency's development team. The team published messages on its social media sites on Aug. 27 hyping an event dubbed "Ignition." Whatever Ignition is, it's set to take place tomorrow.

Image source: Getty Images.

Source Fool.com

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