By Silke Brand | The first SAGA test phones have arrived. Exciting times for the Solana Community lay ahead of us. Developers are invited to submit their first dApps on the dApp Store.
Solana [SOL] has been recovering from the FTX incident, which caused its price to drop dramatically. Recent updates from the network and projects on it show that it is still actively working, despite the recent upswing in fortune. Could these changes affect the network or SOL in any way?
Not only the hard-core fans are super excited. Or as @kheldar_sol says on Twitter:
Holding a @solanamobile phone in my hand is a surreal moment. Yes there are skeptics — Apple and other manufacturers can make this redundant by changing some policies but worst case #saga is accelerating that change. Best case, this is the start of a #web3 mobile future.@kheldar_sol on Twitter
Holding a @solanamobile phone in my hand is a surreal moment.— kheldar ⛩️._. (@kheldar_sol) January 26, 2023
Yes there are skeptics — Apple and other manufacturers can make this redundant by changing some policies but worst case #saga is accelerating that change.
Best case, this is the start of a #web3 mobile future. pic.twitter.com/5maOeLPLhu
The dApp Store Saga
Solana’s innovative new phone, Saga, will also be released by Solana Mobile to the general public soon. On January 24th 2023, news were published on the Solana Mobile handle, detailing the final accessories that would be included with the Saga phone upon release. On January 26th 2023 the Solana dApp Store was opened for app submissions. For developers it is now the time to submit their dApps to be present on the platform once the launch of Saga will be announced. According to Solana Mobile all dApps will be published on-chain in a permissionless manner. Anyone can publish a dApp. The Solana dApp Store itself will be a curated catalog, managed by Solana Mobile, with apps that conform to a set of policies. Details can be found on the Medium handle of Solana Mobile as well as on GitHub.
📱 Here’s a first look at the Solana dApp Store that will ship with Saga.— Solana Mobile (@solanamobile) January 24, 2023
An app store built specifically for crypto apps on mobile.
Let’s dig in 🧵👇
The company claimed that the “dApp Store” would be pre-installed on the phone. In the original plan, the dApp Store was to be a centralized location where users could access all Solana network’s decentralized applications.
Solana Mobile made a passing reference to a lack of pushback and development fees. With this latest release, Solana could extend an open welcome to the network’s developer and creator community. The implication is that the shop may become a popular hangout for developers and creators, which, assuming it grows, may increase the network’s traffic.
TVL and NFT count still modest
Despite this good news Solana’s projects have not exactly left a lasting impression on its Total Value locked (TVL). According to information from DefiLlama, Solana’s TVL was $267.74 million on January 27th 2023. The figure also made the downturn that the TVL had experienced recently apparent.
The trade value of NFTs in USD has also been modest. The cumulative count for one day was less than $1 million in January 2023. Additionally, the count could not reach the $2 million barrier throughout the previous three months.
Slight drop but SOL still bullish
SOL was trading at about $24 on January 27th 2023. On CoinMarketCap it ranks on position #11, right in between Polygon and Polkadot. It shows a market cap of around 9 Billion USD at the time of writing. 7 days ago it was around the same – with ups and downs in the meantime. Crazy enough – a month ago Solana traded at a price of $9,60, quite an amazing bull run. Still some way to go. But well!
The Relative Strength Index showed that Solana was also experiencing a bull run. The RSI line showed a strong bullish trend and was slightly under 70.
According to recent changes on the Solana network, it is attempting to draw in more producers and developers, which could be crucial for attracting additional users. Essential metrics may decline in the short term, but if key products and services are successfully deployed, they may increase and make SOL a more desirable investment.