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Will Solana’s latest stunt of ‘crypto to go mobile’ help SOL go up the price chart

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The Solana Foundation has taken a huge leap recently. They have finally released the launch of Saga, the latest addition to Web3. And, SOL’s prices have been reacting positively.

Back in the game

In an interesting development, Solana has released its flagship mobile phone, Saga. The $1000 android mobile phone will be the latest addition to Web3. The Solana team announced the release late on 23 June in the following tweet.

Reportedly, the mobile phone has “unique functionality and features tightly integrated with the Solana blockchain, making it easy and secure to transact in web3 and manage digital assets, such as tokens and NFTs.”

Saga powers the Solana dApp store which is an app distribution store on android for decentralized apps. The phone also accompanies other exciting features including the Solana Mobile Stack (SMS). It also includes a Seed Vault built to secure the hardware for users.

However, the news wasn’t well-received across the crypto community. Cardano founder Charles Hoskinson took a dig at the launch of Saga in a recent tweet. According to Hoskinson, people would need to find seven of their friends in Discord to reboot the mobile phone. This was probably in reference to Solana’s outages over recent months.

Did it affect the SOL price?

Saga has generated a lot of chatter on social media since its official launch on Twitter late on 23 June. SOL prices have shot up ever since. It is currently up 12.5% in the past day to $40.8, at press time. The SOL prices have also recovered tremendously over the last week with a 31% bullish surge. The volume has also spiked to a 32% surge at $1.89 billion in the past day.

The social dominance metric skyrocketed after the announcement of Saga. As shown clearly in the chart below, the metric shot up to 15.35% but later dipped to 5.18% by 24 June evening.

Source: Santiment


Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.
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