Solana: Saga Phones Sold Out as Bonk Surges, SOL Eyes Top 5 Crypto Spot
Solana, a strong contender in the Layer-1 space challenging Ethereum, has once again demonstrated its prowess.
Presently, the Solana (SOL) price shows a 6% surge, hitting $76.04, while the market cap stands tall at $32.5 billion.
Breaking news unfolds as Solana Mobile proudly announces the complete sell-out of Saga phones within the United States.
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 2️⃣ (@solanamobile) December 15, 2023
Bonk (BONK), the memecoin linked to Solana, has undergone an astonishing surge of over 1,100% in the past month, sparking heightened interest within the crypto community. Ever since the launch of the Solana phone on May 8, owners have been entitled to a free 30 million BONK airdrop.
The recent spike in BONK’s value has introduced an intriguing arbitrage opportunity, with the airdrop now valued at a staggering $877, surpassing the phone’s current price of $599. This unforeseen development adds a fascinating layer to the volatile world of memecoins.
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Anatoly Yakavenko, co-founder of Solana, hinted at a potential price adjustment for the Solana Saga phone due to the surging demand for BONK. During a recent podcast appearance, Yakavenko acknowledged the challenges faced by the Saga in the market and disclosed his personal utilization of the device as an “NFT phone,” distinguishing it from his primary mobile device. Additionally, plans for the release of further Saga phone models were hinted at.
The SOL price rally has been monumental since mid-October, boasting an impressive surge of nearly 300% in the past two months. In the ongoing rally, SOL has surpassed the crucial resistance level at $75.
Interestingly, this surge might position Solana to potentially overtake XRP as the fifth-largest cryptocurrency by market cap. Presently occupying the sixth spot with a valuation of around $32.18 billion, Solana trails closely behind XRP’s $34.20 billion valuation.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
