Solana’s Remarkable Price Surge
Since January, Solana has experienced an astonishing 430% increase, soaring from $10 to over $71 at the time of writing. Despite the overall success of SOL and the ecosystem in 2023, Solana’s mobile device, Saga, has faced challenges.
Internal discussions regarding the future of Saga have arisen due to disappointing sales, as confirmed by Anatoly Yakovenko, the founder of Solana. Yakovenko speculates that the next Solana product could be a “smart wallet” with a reduced price if sales don’t see a substantial increase.
BONK Airdrop Records and Saga Phone
A screenshot showcasing the percentage increase of BONK, a dog-themed coin developed by Solana, has been shared by a prominent crypto influencer. The screenshot, taken using the Saga Book index, monitors the value of Saga airdrops expressed as a percentage of the phone’s cost.
- The Saga phone, introduced in April at $1000, was accompanied by a $10 BONK token airdrop.
- At the time, BONK was valued at approximately $0.0000004, which has since surged to $0.00001154, an increase of 10338.75%.
Solana’s Price Soars Amidst DeFi Progress
The substantial increase in SOL’s price coincides with significant progress in Solana’s DeFi ecosystem. Jito, the Solana-based DeFi network, recently initiated a much-anticipated airdrop, distributing about $225 million in free tokens to Solana users worldwide.
At the moment, Bonk (BONK) is trading at $0.00001150, with a 24-hour trading volume of $185,673,275.65, signifying a price surge of 31.26% over the last 24 hours and 186.80% over the last 7 days.
Solana’s Continued Price Surge and Analyst Predictions
Solana, a formidable Ethereum Layer-1 competitor, continues its remarkable gains, breaking the critical barrier at $71. The current price is $71.23 with a 24-hour trading volume of $4,151,180,755.60, reflecting a 12.82% increase in the last 24 hours and a 16.88% increase in the last 7 days.
Analysts predict further gains, with indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) showing bullish signals. Expectations are optimistic for Solana’s price to surpass $71, with potential targets set at $90 and $100.
Saga Mobile Challenges
Despite SOL’s success, Saga, designed to enhance the Web3 mobile experience, has faced difficulties. Yakovenko admitted that Saga’s sales fell short of expectations, acknowledging its use as his “NFT phone” while relying on his iPhone for day-to-day work.
The crypto commentator on X remarked, “it’s ok,” when questioned about Saga’s quality and performance, adding that it wasn’t the best value for money. Yakovenko noted that advancements in mobile interfaces have narrowed the gap between specialized crypto devices and regular smartphones.
In summary, Yakovenko expressed disappointment, highlighting the limited success of previous attempts by various companies to create crypto-focused smartphones.
