Solana Saga Phones Surge in Price on eBay Amid Bonk Frenzy Sell-Out | Blockster

The Solana Saga phone has witnessed a staggering surge in resale prices, reaching up to $5,000 on eBay, more than eight times its original retail value, as the frenzy for the free Bonk memecoin airdrop led to a rapid sell-out on the official website.

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Listings on eBay as of December 16 revealed two unopened, in-box Solana Saga phones sold for $5,000 each, with an additional device fetching $3,316. Over the weekend, an additional 20 phones were sold for over $2,000, reflecting a substantial markup from the original $599 retail price on the Solana Mobile website.
The Solana Saga phone, launched on May 8, included a free 30 million Bonk (BONK) token airdrop with each device. The recent surge in Bonk's value surpassed that of the phone itself, triggering a sell-out on December 16.
Buyers of the resold Saga phones are seemingly betting on the continued appreciation of Bonk's price. Over the last 30 days, Bonk has experienced an impressive 800% surge in value, gaining popularity among memecoin enthusiasts and traders seeking opportunistic gains.

For buyers to profit from the substantial $5,000 price tag, Bonk's price would need to increase by an additional 620% from its current value. This would place Bonk's total market cap at $8.68 billion, similar to the valuations of Tron (TRX) and Polkadot (DOT).

However, it appears that buyers may have additional incentives beyond Bonk's price appreciation. Several Solana-based projects have recently announced airdrops and financial incentives for Saga phone users. Solend, a decentralized finance protocol, confirmed a forthcoming airdrop for Saga phone holders, and the memecoin project Samoyed Coin (SAMO) announced an upcoming airdrop for Saga holders.

Moreover, decentralized storage provider GenesysGo had previously announced that Saga phone users could mine its native Shadow (SHDW) token through a dedicated application.

The Solana Saga phone's surge in resale prices underscores the growing intersection of NFTs, memecoins, and blockchain technology, creating new opportunities and challenges for both buyers and sellers in the evolving digital landscape.