2023-12-17 11:11:40
Solana SOL PRICE launched the Saga smartphone with high hopes, but it was not a big success. Now, due to the increase in the price of the Bonk meme coin, the demand for phones has soared to such an extent that the devices have sold out in a flash.
Solana’s previously underperforming Saga smartphone has suddenly become an overwhelming success. However, the unexpected development was not caused by interest in the phone, but by the increase in the price of the BONK meme coin on Solana’s blockchain.
Since June, Saga phone owners can receive 30 million BONK tokens each thanks to an airdrop. And the price of BONK jumped to such a level that the value of the airdrop increased to regarding 700-900 dollars, while the price of the phone is 599 dollars, so the phone “he paid himself“.
Due to the BONK airdrop, the sales of Saga phones skyrocketed, the devices were sold out
The unique situation began with the announcement in June that 30 million BONK tokens will be offered to those who download the Bonk app through the Saga phone app store.
This offer has become particularly lucrative due to the recent increase in BONK’s market value. The sudden increase in the exchange rate created an unrealistic arbitrage opportunity for fans, as the value of the airdrop hovered around $700-$900, which is significantly higher than the phone’s $599 selling price. As a result, sales of Solana smartphones increased tenfold in the last two days as everyone wanted to claim BONK tokens.
Raj Gokal, the developer and co-founder of Solana, reported the huge increase in sales in a post, noting that at this rate the phone will sell out before the end of the year.
lol. just so everyone is aware, @solanamobile saga sales have >10x’d in the past 48 hours, and are now on track to sell out before the new year.
— raj ???? (@rajgokal) December 14, 2023
We already know that we didn’t have to wait until the end of the year, as the Saga devices are completely sold out in America, while there are barely a few left in Europe.
Growth is like that significant It was then that Solana’s other co-founder, Anatoly Yakovenko, considered raising the phone’s price. In addition, Solana Mobile has introduced order restrictions so that each household can only purchase one mobile device in the future.
The Saga is SOLD OUT!
Words cannot describe how much we appreciate your support. We are nothing without this amazing community ????
While these past few days will be cemented in our history, we’re excited for the future ????
Stay tuned ✨ pic.twitter.com/KJje8lBDLL
— Solana Mobile ???? (@solanamobile) December 16, 2023
As we previously reported, Solana Labs announced in 2022 that the world’s first crypto smartphone, Saga, would arrive. The phone’s hardware is also suitable for safe storage of cryptocurrencies, but despite this, the expected success was not achieved. Due to poor market performance, the initial price of $1000 was reduced to $599.
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