Solana Mobile’s Saga phones face inventory issues due to surge in Solana prices
Posted: December 26, 2023 11:05 AM Updated: December 26, 2023 11:05 AM
Correction and fact check date: December 26, 2023, 11:05 AM
briefly
Solana Saga phones are facing inventory management issues against the backdrop of a surge in the value of SOL.
Solana Mobile’s highly anticipated Saga phones are facing inventory management issues despite initial success in the US market and complete sell-outs of the new devices. This occurred at a time when the value of the Solana (SOL) cryptocurrency was surging significantly.
The growing popularity of Solana’s meme coin, BONK, has resulted in a sellout of Saga phones. However, due to an inventory calculation error by a third-party distributor, orders could not be processed after it was out of stock. Additionally, some orders have been canceled due to suspected fraudulent activity.
In response, the company guaranteed refunds to affected customers and apologized for the inconvenience.
Solana-related BONK experienced a price surge earlier this month, with its value soaring more than 1,100% in 30 days.
Solana Token Growth Momentum
Despite the inventory issues, Solana token showed notable market performance and ranked 4th in the cryptocurrency rankings.
Although this position was temporary, Solana’s return to 5th place resulted in a significant increase in the token price. At the time of writing, the price of SOL is up 7.08% to $93.53, reaching a high of $99.12 in the last 24 hours, the highest of the year.
The Solana native token price also exceeded $100 on December 24th. The trading volume of Solana decentralized exchange (DEX) briefly surpassed that of Ethereum, and as a result, calls for “Solana to surpass Ethereum” also grew.
Recently, Solana’s seven-day average of non-voting transactions reached 34 million, a new high for the year. Non-voting transactions typically involve SOL transfers between different Solana accounts.
Recent events involving Solana Saga Mobile and the Solana cryptocurrency highlight the complex dynamics surrounding product success, operational challenges, and market perception. As Solana Mobile resolves its inventory issues, the cryptocurrency community is closely watching Solana token market performance.
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About the author
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
more articles