The Saga Phone Soars in Sales as Traders Pursue BONK Arbitrage

Sales of the Solana phone, which was previously struggling, have skyrocketed recently, and it seems that the memecoin BONK is the driving force behind this surge. Arbitrage traders are eagerly pursuing a 30 million BONK token airdrop that is being offered to every owner of the Saga phone. This airdrop alone is valued at almost $700, whereas the phone itself costs $599.

Raj Gokal, the co-founder of Solana, took to Twitter to announce that Saga sales have increased by over ten times in the past 48 hours and are projected to sell out before the end of the year. The sudden surge in sales prompted Gokal’s counterpart, Anatoly Yakovenko, to consider raising the price of the phone. The excitement surrounding BONK, which can be considered Solana’s equivalent of Dogecoin, has provided a remarkable turnaround for Saga. Just a week ago, the smartphone faced uninspiring sales figures and a bleak future.

Saga is a unique blockchain-enabled smartphone that offers special features for securely storing one’s cryptocurrency on the device’s hardware. The Saga Discord server witnessed an explosion of activity as newcomers enthusiastically declared their recent purchase of the phone in order to be eligible for the BONK airdrop. Users on the Discord server shared information stating that the airdrop is accessible to those who download the BONK app from Saga’s custom app store, which focuses on crypto-related applications.

A user, referred to as Jax, who claimed to be an employee of Solana Mobile, stated on the Discord server that upon physically possessing the phone, users will be able to mint a ‘Genesis token’ through the dApp store. This token qualifies them to claim the BONK airdrop. However, Jax also mentioned that the promotion for the airdrop will not last indefinitely, and it will eventually come to an end. As of now, the claim process is live, but the decision to close it lies with the BONK team, without any specified end date.

These recent developments have reignited the interest in the Solana phone and generated a significant buzz within the crypto community. The convergence of the BONK frenzy and the innovative features of the Saga smartphone has proven to be a winning combination, driving sales to unprecedented heights. The allure of receiving a substantial amount of BONK tokens simply by purchasing the phone has propelled Solana’s mobile device from a struggling product to a sellout success.

The impact of these events on the broader crypto market remains to be seen. However, the surge in sales is a testament to the ongoing fascination and excitement surrounding meme-inspired cryptocurrencies like BONK. As the Saga phone continues to capitalize on this newfound enthusiasm, it is poised to establish itself as a prominent player in the ever-evolving world of blockchain-enabled smartphones.