BONK Leads to Solana Saga Phone Sales Spike, Arbitrum Outage

Market Update Equities are mixed today but on track for the seventh straight week of gains, the longest winning streak since 2017. The Nasdaq gained .38% while the S&P fell .49%. Both indices are in striking distance of all-time highs following comments from Fed officials about inflation coming down and potential rate cuts in 2024. $BTC has pulled back to $41.8k, down 3.3% after facing resistance at $43.4k. $ETH is performing in line with $BTC, falling 3.2% to $2.2k. Solana’s top memecoin $BONK has outperformed the top 100 on both daily (+79.2%) and weekly timeframes (136.9%). Momentum that started on chain continued with major CEX listings, after an initial sell-off the rally continued following a listing on Coinbase. Three of the top five weekly performers were Cosmos based assets, driven by investors buying network tokens to stake for potential airdrops. Decentralized exchange $OSMO and layer-ones $INJ and $KUJI were the top beneficiaries. The run was preceded by $TIA climbing over 6x from its airdrop price, also due to anticipation of potential airdrops for stakers.  Sales of Solana’s Saga phone have exploded, largely due to the Solana-based memecoin $BONK. New phone owners are receiving an airdrop of 30 million BONK tokens, valued at approximately $700, which is more