Bonk Frenzy Boosted Sales of Solana’s Saga Phones to Eight Times Its Retail Cost: Details

The month of December proved to be quite lucrative for the overall crypto market, but it also brought extensive trading in one particular ecosystem; Of Solana. With Solana’s native cryptocurrency SOL trading on the upper half of the price ladder and sales of Solana-based NFTs being seen over the past few days, the Solana ecosystem was already showing signs of improvement when a comparative analysis of its ecosystem was conducted. The new member soared in popularity. The name of this new member is Bonk, and it is a memecoin based on the Solana blockchain.

In a new development, Saga smartphones from Solana are seen selling at huge prices on online marketplaces in international markets.

Over the weekend, a Solana device sold for $5,000 (roughly Rs. 4.14 lakh) — almost eight times more than its original launch price of $600 (roughly Rs. 49,795) on eBay. Another unit of Saga was bought for $3,316 (about Rs 2.75 lakh) and several others were traded for more than $2,000 (about Rs 1.65 lakh). report Cointelegraph said.

Notably, every Saga smartphone includes a free airdrop of 30 million BONK tokens, which is being cited as one of the top reasons why Saga devices are selling like hot cakes.

Over the past few days, BONK has overtaken recent memecoin star Pepecoin in terms of its market cap. In the last 30 days, the price of BONK token increased from $0.0000028 (approximately Rs 0.00023) to $0.00012 (approximately Rs 0.0010) and touched a valuation of $762 million (approximately Rs 6,353 crore).

According to Solana Mobile’s official X handle, the Saga was sold out on December 16.

Buyers of this handset automatically get 30 million BONK tokens, which will be worth $638 (approximately Rs 52,977) as per the current rate of the token. It appears that Saga buyers are placing a big bet to push the price of Bonk even higher, with an increase of at least 620 percent needed for them to see any real profit.

The Saga phones have now become a craze in their own right, with some unrelated crypto projects also lining up to airdrop for these phones.

For example, there is a memecoin project called Samoyed Coin. announced An airdrop for Saga in the coming weeks. GenesysGo, a decentralized storage provider, is also set to feature its native Shadow (SHDW) mining via an app on Saga phones.

Solana’s Saga smartphone was launched in April 2022 and was seen as the arrival of the world’s first generation crypto and Web3-centric smartphones. According to the company, along with the Solana Pay crypto pay app, a ‘seed vault’ is also pre-installed on the Saga phone to securely store all the private keys linked to the handset.

Affiliate links may be automatically generated – see our ethics statement for details.

Leave a comment