solana Plans to Introduce Its New Mobile Phone, Will There Be an Increase in SOL Prices?
Solana Mobile is preparing to launch a second smartphone, building on the unexpected success of its first crypto-ready device, according to a source familiar with the matter. The upcoming phone will retain the core features of its predecessor, Saga, including an integrated crypto wallet, customized Android software, and a “dApp store” for crypto apps.
What’s New in Solana Mobile 2.0?
However, the new phone aims to be more affordable and will include different hardware features. While the original phone was launched last year at $1000, prices dropped due to slow sales.
The launch of the new Solana Mobile phone is likely to meet the growing demand for existing Saga smartphones, which are scarce in the secondary market. Currently, a factory-sealed Saga device is attracting bids of $3,200 on eBay, marking a fivefold increase in value in the past five weeks.
Originally positioned as an experimental phone serving crypto traders and NFT collectors on a mobile-first platform, Saga faced difficulties finding a large enough market. But the dynamics changed dramatically when users realized that the phone included the allocation of bonk tokens and exceeded the cost of the device. Within a week, Saga was completely sold out.
Over the next month, Saga phones continued to be lucrative for their owners, receiving valuable tokens and NFTs from various projects. These airdrops not only strengthened the Saga community, but also inspired more Solana developers to explore the creation of mobile applications. A representative for Solana Mobile declined to comment when contacted by CoinDesk.
Will the SOL Price Rise Begin Again?
Solana (SOL) price has been moving sideways and remains below $100 for almost a month after reaching a peak of $122 in December 2023. As of press time, Solana (SOL) is trading at $95.77 with a market cap of $41.4. trillion.
Despite the prevailing selling pressure, buyers in Solana are immediately absorbing the available supply below $90, causing lower-priced rejection candles to form. This scenario increases the potential for a reversal of the uptrend in the form of a double-bottom formation or a bullish reversal within a flag formation.
If SOL price breaks the $100 threshold, the uptrend could face important resistance levels such as $120 and $150.
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
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