Solana Phone Sparks Arbitrage Buzz: Is it Up for Grabs in Australia?

Solana Saga Brings Early BONKmas

Following a significant price surge of over 1,100% in the last 30 days for the Solana meme coin Bonk (BONK), there has been a sharp increase in the purchase of Solana’s crypto phone. Buyers of the phone, which was launched on May 8, are entitled to a free airdrop of 30 million BONK tokens. The recent rise in BONK’s value has created an attractive arbitrage opportunity for these new phone owners. As a result, Solana co-founder Raj Gokal reported on December 15 that sales of the Solana phone have increased more than tenfold in the past 48 hours and are expected to sell out before the new year.

The arbitrage opportunity means that, depending on the price of Bonk, people will be able to sell their tokens and still have a free phone and some spare cash. However, the airdrop is not expected to last, and the price of the phone may increase soon too, as Solana co-founder Anatoly Yakovenko hinted.

need to raise the price, otherwise we will get sybils

Anatoly Yakovenko

 Phones Are Selling Out Fast

Solana announced that due to strong sales, purchases will be limited to one per household, allowing more people to experience the new device. The situation has changed dramatically from early in December when Yakovenko revealed during an interview that he doesn’t use the phone himself as his primary device – he stated he wasn’t expecting to even sell 50,000 units in total.

Solana promotes Saga’s deep integration with blockchain technology, its focus on crypto and NFT usability, and efforts to make Web3 and DeFi services more accessible through a mobile device. A significant feature of the Saga phone is its built-in hardware wallet. This provides enhanced security for storing private keys, which are essential for crypto transactions.

On December 15, the Solana Mobile official account tweeted that phones have sold out in the United States, but some would still remain available for European customers to scoop up. The phone can be ordered through the Solana website in select regions, including the US, UK, Europe and Australia.

Meanwhile, Bonk, the meme coin behind the increased interest in the Solana phone, seems to be going through a bit of a consolidation phase, trading sideways over the past few days after a solid run of 713% in the past month.