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Solana Saga sells for as much as $5K on eBay as Bonk frenzy causes sell-out

17 Dec 2023
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A Solana Saga cellphone seems to have offered for as a lot as $5,000 on eBay — greater than eight instances its retail value — after a frenzy to choose up a free memecoin airdrop brought on the units to promote out on the official web site for the primary time. 

In accordance with a Dec. 16 listing on the web market eBay, two unopened, in-box telephones have just lately offered, listed for $5,000 or “finest provide,” whereas one other machine has sold for $3,316 or “finest provide.”

Solana Saga telephones had been being resold for as excessive as $5,000 on eBay. Supply: eBay

An extra 20 units managed to promote for over $2,000 over the weekend, a greater than $1,400 markup on the unique $599 price ticket on the Solana Cellular web site.

For the reason that machine launched on Could 8, every new Saga cellphone has include a free 30 million Bonk (BONK) token airdrop. Merchants final week started noticing {that a} value surge in Bonk meant that the free airdrop has develop into extra useful than the machine itself — inflicting the cellphone to develop into “SOLD OUT” as of Dec. 16.

Patrons of those scalped Saga telephones are doubtless a wager that the value of the memecoin will proceed to understand even additional. Within the final 30 days, Bonk surged almost 800% because the token gained mass traction amongst memecoin fanatics and opportunistic merchants.

The worth of Bonk has surged extra almost 800% within the final month. Supply: TradingView

Nonetheless, for merchants to revenue from the eye-watering $5,000 price ticket, the value of Bonk would wish to develop an additional 620% from its present worth. This might see Bonk command a complete market cap of $8.68 billion — inserting it at an analogous valuation to Tron (TRX) or Polkadot (DOT).

Associated: Solana phone sales skyrocket as degens scramble for pumped-up BONK

Nonetheless, it will appear that the cellphone patrons is probably not solely betting on the value of Bonk, with a number of Solana-based initiatives just lately saying airdrops and different monetary incentives for machine customers.

In a Dec. 17 put up to X (previously Twitter) the pseudonymous founding father of the DeFi protocol, Solend confirmed that the workforce can be engaged on an airdrop for Saga cellphone holders.

Moreover, a fellow memecoin mission referred to as Samoyed Coin (SAMO) announced they might be releasing an airdrop for Saga holders, with extra particulars “coming quickly.”

On Nov. 15. decentralized storage supplier GenesysGo beforehand announced that customers would be capable of mine its native Shadow (SHDW) token by means of an software on the Saga cellphone.

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