``` Solana phone sales skyrocket as degens scramble for pumped-up BONK - Coin Postman
Your reliable guide in the crypto world, providing comprehensive news and analysis on all things related to cryptocurrency.

Solana phone sales skyrocket as degens scramble for pumped-up BONK


Memecoin hopefuls have been snapping up Solana’s crypto telephone in droves after a current value hike for Solana memecoin Bonk (BONK), which has risen greater than 1,100% within the final 30 days. 

For the reason that Solana telephone was launched on Could 8, new house owners have been in a position to declare a free 30 million airdrop of the memecoin, however a current rise within the token’s value has offered an fascinating arbitrage alternative for consumers.

“Solana telephone gross sales have > 10x’d previously 48 hours, and are actually on observe to promote out earlier than the brand new yr,” wrote Solana co-founder Raj Gokal in a Dec. 15 put up to X (previously Twitter).

At present costs, the 30 million BONK airdrop is price an astonishing $877 — $278 greater than the present $599 price ticket of the Saga telephone — making it one of many weirder arbitrage alternatives accessible for crypto fanatics. 

Bonk has posted an outsized acquire of 1,100% within the final 30 days, according to CoinGecko. The current value efficiency noticed Bonk’s market cap flip that of competitor memecoin Pepe. Memecoins are usually not usually recognized for his or her stability.

The uptick in gross sales was so sturdy that fellow Solana co-founder Anatoly Yakavenko suggested elevating the worth of the Saga — which was slashed from $999 to $599 in August following an onslaught of dwindling gross sales.

Solana’s Saga telephone has seen “thousands and thousands of {dollars} price” of gross sales previously 24 hours. Supply: Solana Cellular

A Solana spokesperson confirmed to Cointelegraph that complete Saga gross sales had topped “thousands and thousands of {dollars} price” inside the previous 48 hours. “Very cool to see Solana neighborhood tasks making Saga the ‘telephone that pays for itself,’” the spokesperson added.

Following the inflow of shopping for exercise, Solana Cellular introduced that every one future orders can be restricted to 1 cell gadget per family.

The frenzy of gross sales stands as a turning level for the long-struggling gadget.

Associated: VanEck predicts a 10,600% Solana price rally by 2030

On Dec. 5, Yakovenko appeared on Laura Shin’s Unchained Podcast to debate the lackluster efficiency of the Saga telephone, saying he hadn’t seen a “ton of sign” that the gadget may ultimately promote 50,000 items in complete.

Moreover, he admitted that he doesn’t use his Solana Saga as his main cell gadget, preferring to make use of it as his “NFT telephone.”

In the end, the commerce alternative rests on the hope that BONK will nonetheless be buying and selling close to or above present costs by the point the Solana gadget arrives within the palms of the person. Memecoins are recognized for being unstable, with fast value adjustments being frequent.

NFT Creator: Pudgy Penguins GIFs top 10B views, CEO sets sights on Disney, Hello Kitty