The cryptocurrency market is experiencing a mixed bag of results today. While Bitcoin and Ethereum show minimal movement, Solana (SOL) and some of its associated tokens are witnessing a significant uptick in their values.
Solana, a prominent cryptocurrency, is experiencing a remarkable surge. Its value has increased by 12% within the last 24 hours, seeing SOL price reach over $92, as reported by a popular crypto tracking platform. This rise has enabled Solana to surpass XRP in market capitalization, positioning it as the fifth largest digital currency. Over the past week, Solana has seen an almost 25% increase in its value.
Solana (SOL) Rise and Other Tokens
This uptrend in Solana’s value is partly attributed to the growing interest from investors in both the currency and its ecosystem. Solana’s blockchain, known for its efficiency and popularity among developers and large corporations like Visa and Shopify, hosts a variety of tokens, many of which are currently seeing substantial gains in their value. Meme coins on the Solana blockchain, in particular, are performing exceptionally well.
One such meme coin, Dogwifhat (WIF), which debuted just a month ago, has seen a remarkable growth of over 39% in the last 24 hours. In the last week, WIF’s price skyrocketed by 892%, now priced at just under $0.23 per WIF on Gate.io.
In contrast, Bonk (BONK), another meme coin that had previously seen significant growth, is currently experiencing a downturn. Its value has decreased by nearly 6% in the last day, trading at $0.00001885.
The rest of the major cryptocurrencies are not showing much movement. Bitcoin, the leading cryptocurrency, has seen little change, currently trading at $43,810. It briefly exceeded $44,000 on Wednesday and early Thursday but has since shown only marginal fluctuations. Ethereum, another major player in the crypto market, has seen a slight decrease of nearly 1%, with its current price at $2,225 per coin.
Another notable performer in the cryptocurrency market is Near Protocol’s native asset, NEAR. Among the top 100 cryptocurrencies, NEAR has shown impressive growth, rising almost 17% in the last day. It is now trading at $3.41.
The Solana Saga and the Airdrop Heaven
In the wake of increasing excitement around the Solana Saga smartphone, the device’s popularity has surged, largely due to the buzz surrounding various token airdrops. The recent upswing in the value of Solana’s famous meme coin, BONK, has significantly boosted the appeal of owning a Saga, with the phone now being completely sold out.
Interestingly, the airdrop season is not limited to the Solana phone and the rest of us can also get in on the action. Some of the established exchanges are currently running startup onramps with free crypto airdrops, so do keep your eyes peeled on the market, you will certainly won’t be left behind. Oh, and make sure you stick to reputable platforms only because there are still many bad actors out there who would want access to your wallet via a DApp, which became apparent in the recent Ledger hack.
Solana Labs, the brains behind the Saga, is considering additional strategies to enhance the Saga ecosystem. Meanwhile, several Solana-based initiatives are keeping the momentum going by offering their own token airdrops exclusively to Saga owners.
Despite mixed reviews from prominent tech influencers, these airdrops have made Saga owners quite pleased with their investment. Those who have claimed all the available airdrops and perks, and held onto them, find themselves with tokens now valued at $3,000 or more.
For those fortunate enough to own a Solana Saga, here’s a rundown of the current and upcoming airdrops, as well as past benefits that were available to early adopters:
BONK Airdrop: This leading Solana meme coin’s rise in value has brought extra attention to the Saga. Owners of the Saga can claim 30 million BONK tokens, currently valued at approximately $575. At its peak, this would have been worth around $1,025.
Access Protocol Tokens: In a recent move, Access Protocol announced an airdrop of 100,000 ACS tokens to each Saga owner, significantly increasing the visibility and value of their tokens, now worth about $370.
Honeyland Game Perks: Owners of the Saga are entitled to 50 HXD tokens and a premium in-game upgrade from Honeyland, a Solana-based mobile game, collectively valued at around $35.
Samoyedcoin (SAMO): SAMO, another canine-themed Solana token, has teased an upcoming airdrop for Saga owners, with the details to be announced soon. SAMO’s value has risen by 50% this week.
Solend Airdrop: The lending protocol Solend is also planning an airdrop for Saga owners, as indicated in a recent announcement by its founder. Details are pending, but the SLND token has seen a 24% increase in value over the last week.
Earning SHDW Tokens: Saga owners will have the opportunity to mine SHDW tokens through ShdwDrive by running an “Auditor Node”, a feature that is yet to be activated.
Helium Mobile Trial: In the United States, Saga owners can enjoy a one-month trial of Helium Mobile, a 5G wireless service powered by cryptocurrency, which is now integrated with the Solana blockchain. This service is valued at $20.