In the midst of the BONK meme coin frenzy, Solana Saga phones, initially overshadowed by lackluster sales, have become unexpected stars on the resale market, with one device reportedly fetching a staggering $5,000 on eBay.
According to completed listings, the Solana Saga phones, which were initially priced lower, are now consistently reselling for over $2,000.
The surge in demand reached new heights on Saturday when two phones exchanged hands for an impressive $5,000 each.
Saga phone listing. Source: Ebay
On Sunday, another phone commanded a price of $3,361.
Interestingly, these sales were completed by sellers who already possessed the device, while others are waiting for their phones to ship.
Saga phone listing. Source: Ebay
The sudden surge in popularity can be attributed to an arbitrage opportunity noticed by traders.
Originally, each Saga phone purchase included a generous airdrop of 30 million BONK tokens, a hot meme coin built on the Solana blockchain.
As the value of BONK has escalated, surpassing the initial cost of the phone itself, a fervor for the Solana Saga phones ensued.
At the time of writing on Monday, the price of the BONK meme coin was up an impressive 68% for the past seven days, and up close to 640% on a 30-day basis, trading at $ 0.00001987.
The coin is ranked as number 55 on CoinGecko’s ranking of the most valuable cryptocurrencies.
30-day BONK price chart. Source: CoinGecko
Beyond the getting access to the BONK airdrop, the Saga phone also offers additional perks, including a complimentary month of access to Helium Mobile and a free toy.
Moreover, the phone’s decentralized app (dApp) Store boasts apps that reward Saga holders with exclusive benefits and rewards, further enhancing its appeal.
