Solana Launches Crypto Smartphone, Market Uptrend Hikes SOL

The price of Solana (SOL) currently trends, with a 7.68% and 25.10% hike in the past 24 hours and the past week, respectively. The coin trades at $38.52 at the time of writing.

One of the reasons for this hike is that the crypto market has surged by 3.6%. Another reason might be the launch of Solana’s crypto smartphone, the “Saga” phone.

On June 23, Anatoly Yakovenko, CEO of Solana Labs, announced in New York the launch of a new Saga phone and a software development kit for Web3 programs called Solana Mobile Stack (SMS).

Yakovenko explained that this new crypto smartphone will have an approximate price of $1,000. Also, the smartphone will be available in the market early next year.

In detail, the SMS will feature a Web3 decentralized app (dapp) store, a mobile wallet called “Solana Pay,” an easy, platform-wide transaction signing option, and a seed vault for securing private keys in the phone.

It is worth noting that a few other companies had earlier initiated their blockchain/crypto smartphones. This includes the Exodus line by HTC, KalytnPhone by Samsung, and Sirin Labs’ Finney phone. But, Solana’s Saga is claimed to be the most successful among these.

Speaking of the price analysis of SOL, since June 17, the coin has been signaling trendline support, with a slight dip on June 22. But, after this dip, SOL gained more power to continue the uptrend. If the coin follows this movement, it could cross its minor resistance level of $54.6.

Moreover, since May 10, SOL has been down by 44.43%, a steep fall from $74 to its current price of $38.52. The coin could overcome this downfall only if it moves above the $54.6 resistance level.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.