The native token of Solana blockchain is struggling below the $40 price even though the team introduced its launch of the Saga smartphone project.
Solana is the biggest Proof-of-stake blockchain Network and this blockchain project is standing at 9th rank in the industry, in terms of 24 hours trade volume. At the time of writing this article, the price of the Sol token is $38.70 and this price is 5.84% down from the last 24 hours’ trade price.
On 23 June, the Solana project team announced the launch of its Solana smartphone, which is known as Saga. The main aim of the Solana-powered smartphone is to bring core crypto tech support to mobile users with high safety.
Through the press release, Solana co-founder Anatoly Yakovenko said that we don’t need particular numbers of features but we need full crypto support in mobile.
“This is something that I fundamentally believe the industry needs to do. We didn’t see a single crypto feature at the Apple developer conference 13 years after Bitcoin was alive.”
Solana co-founder also said that they want to bring awareness among people about the fundamental knowledge about the self-custody of their crypto funds.
Solana’s Saga launch in a critical situation
The whole crypto community knows about the current situation where Bitcoin failed below its strongest buy wall of $20k price many times. And also the majority of the crypto analysts claimed that we are in the initial phase of the crypto winter season.
But here the launch of the Saga smartphone by Solana is showing that the team is confident with its plan. Against this confidence of Solana, experts noted that it was not a good decision by the team to launch such an innovative thing in the current situation.
On one side, the Solana blockchain is under the beta phase, and on another side occurrence of bugs is degrading the Solana interest among the crypto investors. So basically it was not a good decision by the team to launch smartphone in crypto winter season.