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- Solana’s Saga phones witness increased demand fueled by the 1,100% surge in BONK memecoin value and a complimentary 30 million BONK airdrop.
- Solana co-founder Anatoly Yakavenko suggests a potential price hike for the Saga phone, responding to heightened demand for BONK.
In an interesting development, Solana has successfully pulled off a smart strategy to boost the sales of its Saga phones.
Since the launch of the Solana phone on May 8 this year, new owners have been eligible to receive a complimentary 30 million airdrop of the memecoin. However, a recent surge in the token’s value has created a unique arbitrage opportunity for buyers.
Enthusiasts of memecoins have been swiftly acquiring Solana’s crypto phone following a substantial price increase in the Solana memecoin Bonk (BONK), which has surged by over 1,100% in the last 30 days. This surge has propelled Bonk’s market capitalization above that of its competitor memecoin, Pepe.
At present market prices, the 30 million BONK airdrop holds a staggering value of $877 — an amount $278 higher than the current $599 price tag of the Saga phone. This situation presents an intriguing and somewhat unconventional arbitrage opportunity for crypto enthusiasts.
Solana Mobile announced today that their highly anticipated Saga phones have officially sold out in the United States. The company expressed immense gratitude to everyone who contributed to this remarkable journey, symbolized by the fiery emojis accompanying their announcement.
For our friends across the Atlantic in Europe, there’s still an opportunity to secure one of these sought-after devices, as Solana Mobile confirms a few units are remaining.
Wow, what a day 🔥🔥🔥
We've officially SOLD OUT of Saga phones in the US! A huge thanks to everyone who's been part of this journey ♥️
To our frens in Europe, we've still got a few left for you.
Stay tuned for what's next 🫡
— Solana Mobile 🌱 (@solanamobile) December 15, 2023
What Users Should Know About the BONK Airdrop?
As per messages shared on the Discord server, the BONK airdrop is accessible to individuals who download the BONK app from Saga’s crypto-centric custom application store.
A participant on the server, self-identified as a Solana Mobile employee, explained;
Upon having the physical phone, you can mint the ‘Genesis token’ through the ‘dApp store,’ and this token qualifies for claiming the Bonk drop.
“The bonk drop is NOT forever, at some point that promotion will end,” said a user named Jax, in the Discord channel.
As of right now the claim is live and is up to the bonk team on when they’d want to close it. No end date yet.
Anatoly Yakavenko, one of the co-founders of Solana, has proposed a potential price hike for the Solana Saga phone in response to the surging demand for Bonk. In a recent podcast appearance earlier this month, Yakavenko openly acknowledged the challenges faced by the Saga in the market. He disclosed his usage of the device as an “NFT phone,” emphasizing that it isn’t his primary mobile device. Additionally, Yakavenko discussed plans for introducing additional models of the Saga phone.
Solana Price Action
Solana (SOL) has experienced a significant uptrend since mid-October, witnessing an impressive 300% surge in the last two months. In the current rally, the SOL price has jumped 7% surpassing the critical $75 resistance level.
The pivotal challenge lies in the vicinity of $77.75, and a successful close above this mark could instigate a substantial upward momentum for SOL. The subsequent notable resistance is anticipated around the $80 threshold, and a breakthrough might propel SOL’s value towards approximately $85.
Notably, such an achievement could potentially position Solana to surpass XRP as the fifth-largest cryptocurrency by market capitalization. As of now, Solana holds the sixth position in the cryptocurrency market, with a valuation of around $32.18 billion, closely trailing XRP’s $34.20 billion.
