Solana Phone Sales Surge Amid Boost BONK Demand

In the volatile world of cryptocurrency, the recent meteoric rise of the BONK token on the Solana blockchain has triggered a frenzied scramble among “degenerates” (or degens)- crypto enthusiasts known for their high-risk appetite.

Surprisingly, this surge has had an unexpected side effect: a notable increase in sales of smartphones compatible with the Solana blockchain. 

Interest in Solana-compatible phones Increases

BONK, a decentralized finance (DeFi) token native to Solana, experienced a sudden and substantial surge in value, attracting degens eager to capitalize on potential profits. As the demand for BONK intensified, so did the interest in Solana-compatible smartphones. This is because users sought to actively engage with the phones and manage their crypto portfolios on the go.

As per a Tweet, Solana mobile phone sales have increased more than 10x in the past 48 hours. Meanwhile, the price of BONK has witnessed a 3.9% increase from an hour ago, and a 94.7% increase 24 hours ago, according to reports from Coingecko. 

Solana, an Attractive Platform for DeFi Projects like BONK

Notably, Solana’s appeal lies in its high throughput and low transaction costs, making it an attractive platform for DeFi projects. The decentralized and fast nature of Solana’s blockchain has attracted a niche yet passionate user base. 

However, this recent surge in demand showcases the evolving dynamics of the crypto space, where mobile accessibility is vital for crypto enthusiasts. The rise in sales has also made Solana co-founder Anatoly Yakavenko suggest increasing the price of the Saga. Recall that the price was slashed from $999 to $599 in August, to increase the adoption of the mobile web3.

Meanwhile, the unexpected trend highlights the evolving relationship between blockchain technology and mobile devices.

Was Saga Phone Responsible for SOL Price Jump?

Announced in 2022, Saga was introduced by Solana Mobile as a flagship crypto-first Android phone. The phones are integrated with SMS in addition to inputs from OSOM privacy. Since the announcement of the Saga phone launch, there has been speculation on how much the release will mean for the native token of the Solana blockchain, SOL.

Immediately after the announcement in July 2022, the price of the SOL token grew by 2%. Although not certain, there exists a possibility that the bullishness encountered in terms of the coin was a result of the Saga phone alert.