- Solana Mobile has plans to launch a second crypto smartphone at a lower price, after Saga’s successful rollout.
- Sources close to the matter revealed that the upcoming phone will have similar features as Saga, and hit the market at a cheaper price.
- SOL price recovery is likely to be catalyzed by the bullish development in the Solana ecosystem.
Solana Mobile is working on plans to launch a smartphone after the success of Saga. The plan is to offer Saga’s basic features and built-in crypto wallet at a cheaper price to users. Saga was initially launched at a price of $1,000 (since discounted), the phone’s successor will likely offer similar features in different hardware.
Solana Mobile set to launch second smartphone
Solana Mobile is working on the release of its second blockchain smartphone according to Coindesk’s sources. The first release of Saga was considered a success as the blockchain phone sold out, on account of its key features – integrated crypto wallet, customized Android software and an app store for Web3 applications.
The new release is expected to come at a lower cost and offer a different set of hardware and specifications. Saga Mobile was released at $1,000 in 2023 and the price dropped to $599 following slow sales at its roll out.
At the new price, however, Saga Mobile sold out. Demand for the phone in the secondary market has increased and what started out as an experiment has led to a mushrooming market for Solana’s blockchain phones.
In mid-December BONK, a Solana-based meme coin saw its price surge.An airdrop on Christmas Day 2022 added 30 million tokens to each phone holder. After the surge in December 2023 these were worth $700, more than paying for a $599 phone. The airdrop then subsequent surge in BONK price further catalyzed Saga’s demand among market participants.
The airdrop inspired SOL developers to explore the creation of more web3 applications and further token allocation to device owners, after BONK’s popularity.
SOL price recovery likely to be catalyzed
Solana price could potentially recover with bullish developments in the SOL ecosystem. At the time of writing, SOL price is $97.31, down from its December peak of $126.42. The meme coin is currently trading above its 50 and 200-day Exponential Moving Averages (EMAs) at $86.40 and $52.92.
SOL/USDT 1-day chart
A daily candlestick close below the 50-day EMA at $86.40 could invalidate the bullish thesis for SOL price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
US presidential election outcome could shape the future of crypto
US citizens will go to the polls to elect a new president on November 5, and their choice could be key for the future of the crypto industry and thus the price outlook for Bitcoin (BTC).
Bitcoin Price Forecast: BTC recovers as Donald Trump takes lead on polls
Bitcoin (BTC) slightly recovered to around $68,800 on Tuesday, following a shift in the United States presidential race that saw former President Donald Trump regain the lead, after US spot Bitcoin ETFs experienced an outflow of over $540 million on Monday.
Crypto markets brace for volatility in tight race between Trump and Harris
The US presidential election is one of the most significant events in the world. Due to the influence of the country’s political decisions, policies, and economic approaches, it can significantly impact crypto and global markets.
Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections
MAGA (TRUMP) trades slightly down to around $3.4 on Tuesday after rallying more than 20% since Sunday. The former President Donald Trump-based memecoin is poised for further gains as daily active addresses and network growth metrics rise, signaling increased network usage and adoption
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.