Solana gears for likely rally with first test of Saga phone in China
- Solana ecosystem’s mobile phone Saga has been tested in China, according to a Foresight News report.
- Saga’s Web3 offering is built around the seed vault and dApp store, which run smoothly.
- Saga’s first China review marks a key milestone for the Solana ecosystem, contributing to a 5.7% price increase for SOL over the past week.
The Solana Saga phone was reviewed in China early on Monday, according to a Foresight News report. The flagship Web3 phone of the Ethereum-alternative protocol has two key features that differentiate it from other smartphones: the seed vault and the dApp application store.And both of them worked smoothly once activated.
The review marks a key milestone in the Solana ecosystem and it could act as a bullish catalyst for SOL price.
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Solana’s Saga phone tested in China
According to a report by Foresight News, the first test of the Solana mobile phone Saga has concluded in China. The reviewer tested the core part of the product, namely the seed vault and the dApp application store.
When activated, the Saga Web3 phone prompts users to create or bind a Solana wallet and saves the mnemonic in a local safe environment. Solana’s Saga phone’s release marked a key development in the ecosystem. The launch and delivery of the phone, followed by its review by the community, plays a key role in the Web3 phone’s adoption and utility among users.
The first review of Saga mobile from China marks another breakthrough for the Web3 phone and its further adoption. The review shows that Web3 applications have a few user-friendly functions, and some user experience issues persist.
The review considers Saga as a good first attempt for the development of a Web3 phone by Solana.
Solana rallied nearly 6% over the past week, climbing from $16.08 to $17.01. The Ethereum-killer altcoin is gearing up for its recovery after registering losses in response to the Securities and Exchange Commission’s crackdown on cryptocurrencies.
After the SEC labeled Solana as a security, the asset nosedived nearly 30%. Since then, the Ethereum-killer token is slowly recovering and wiping out losses thanks to bullish catalysts in the ecosystem and a broader more optimistic market mood.
When “The Defiant,” a YouTube channel that shares DeFi insights, reviewed the Saga phone in early June, SOL price rallied nearly 7%, climbing from $20.86 to $22.33 within a three-day timeframe. If history repeats itself, Saga phone’s review from China could also drive SOL price higher.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
