Solana Phone Sales Soar as Value of $BONK Token Surges
Solana’s blockchain phone, Saga, has seen a rapid increase in sales in recent days, with the community attributing it to the valuable $BONK token. Those who purchase the phone will receive over $1,000 worth of $BONK tokens for free, surpassing the phone’s retail price of $599. The price of the token has skyrocketed by 750% in the past month.
Solana co-founder Raj Gokal announced on Twitter that Saga phone sales have grown over 10 times in the past 48 hours and are expected to sell out completely in the coming days or even before the end of the year. Gokal also revealed that there are currently only 20,000 units in stock and no plans to provide more devices at the moment.
Saga phone was first announced in June last year and made available for purchase worldwide in May this year. However, sales seemed to be less than ideal, leading to a significant price drop from $1,000 to $599 in August.
As the first phone product to directly connect to the blockchain, Saga’s sales and adoption rate have always been the focus of the crypto community. Co-founder Anatoly Yakovenko had previously mentioned that only 2,200 units were sold, but it seems to have far surpassed that number now.
The sudden surge in sales has sparked speculation within the community, with many attributing it to the inclusion of the $BONK token, which comes as a bonus with the phone, with a value of nearly $1,100 for 30 million tokens, while the phone itself is priced at $599. Coindesk reported a significant influx of new members in Saga’s Discord server, claiming to have just purchased the phone and hoping to receive the airdrop.
$BONK is the largest native meme coin in the Solana ecosystem, and the official plan is to integrate it as one of the payment options in more related services.
Austin Federa, the strategic director of the Solana Foundation, jokingly said that the real flippening is not the phone sales, but the value of the airdropped $BONK, which has already exceeded the purchase price of the phone.
Toly, another co-founder of Solana Labs, responded that Saga may need to raise its price.
According to TradingView, $SOL is one of the best-performing cryptocurrencies this year, with a more than 500% increase. Meanwhile, $BONK has surged by 750% in the past 30 days and an astonishing 15,800% in the past three months, reaching an all-time high.
The exaggerated rise of $BONK is attributed to the general increase in the Solana ecosystem and meme coin sector in the past two months.
Moreover, the token is set to be listed on several exchanges in the coming days, including Coinbase, Coinone (one of the top three exchanges in South Korea), Binance, and Crypto.com.
For more information about Solana and the future of web3, check out:
– Solana Founder: People will always rely on Ethereum; collaboration is the key to multichain development.
– Not an Ethereum Killer! Solana Founder Clarifies: Ethereum won’t die; let’s work together to create Web3’s future.