Launched within the second half of 2023, the Solana cell has grow to be an iconic product for the crypto trade and SOL buyers. Early adopters have been rewarded with a collection of airdrops far exceeding the preliminary worth of the telephones.
The corporate behind the product has introduced a second iteration of cell units. Following the rise in recognition for the primary mannequin, the second appears poised to interrupt gross sales information, in accordance with a brand new report.
Speedy Gross sales Surge Surpasses Preliminary Projections
Within the first hours of its pre-sale, the “Chapter 2” telephone has set new gross sales information, far outpacing its predecessor, the Saga handset. TechCrunch studies that this reasonably priced Web3 telephone witnessed an amazing demand, reaching its seven-day gross sales goal inside simply 24 hours after its announcement, as revealed by Raj Gokal, Co-founder of Solana.
Throughout the first day of its reveal, “Chapter 2” garnered over 25,000 preorders, which escalated to 30,000 by the 30-hour mark. These figures have notably eclipsed the 12-month gross sales quantity of Solana’s first smartphone, Saga, signaling a big shift in client curiosity in direction of extra economically priced crypto-integrated smartphones.
Solana Cellular Fever: From Gradual Star To Sudden Spike
Dramatic turns have marked Solana’s journey within the smartphone market. The Saga noticed sluggish demand, initially priced at $1,000, prompting a worth discount to $599. Well-liked tech YouTuber Marques Brownlee criticized it because the “worst new telephone of 2023,” and its destiny appeared sealed.
Nonetheless, a turnaround occurred when the dog-focused memecoin BONK introduced the distribution of 30 million free BONK tokens to Saga house owners. This transfer reworked the Saga right into a sell-out success virtually in a single day.
The BONK token, a Shiba Inu-themed Solana token, surged by over 400% in a month, per CoinMarketCap information. The excitement across the Saga telephone and BONK token peaked in December 2023, when telephone house owners found their eligibility to assert the hefty BONK token reward, valued at round $560.
Consequently, the Saga bought out its 20,000 items within the U.S. market, and its retail worth in secondary markets rose to round $5,000, as BONK reached an all-time excessive. Solana (SOL), the cryptocurrency linked to the layer-1 blockchain that helps Saga and BONK, additionally noticed a big rise, climbing greater than 21% over the identical interval.
This development underlines the rising enthusiasm for Solana-based merchandise, notably in memecoins. The hype round these tokens was regarded as fading, however the excessive demand for the Solana cell “Chapter 2” hints at additional success for the product with potential bullish implications for the complete ecosystem.
Cowl picture from Unsplash, chart from Tradingview