Have you ever heard of a Sirin Labs phone? What about the SIRIN LABS Token (SRN)? Well, if you haven’t – don’t worry. Sirin Labs is very new to the scene, but only as a cryptocurrency. This coin has only been on the market about a month. The Sirin Labs ICO concluded during the tail end of December. It ended up being the 4th largest token sale in history. In total, the Sirin Labs ICO racked up $157 million.
Today, the SIRIN LABS Token (SRN) is generating buzz on the cryptocurrency trading circuit – having gained 23% over the last 24 hours. On top of that, it’s the upcoming Sirin Labs phone launch that has investors – and cryptocurrency hardware fans – excited.
Did You Say Sirin Labs Phone?
Yeah, this company makes modern smartphones for the blockchain era. In fact, they made a big splash last year when it released the Solarin phone. The Sirin Labs Solarin model was more geared toward high-income customers, as the smartphone came with a hefty price tag – to the tune of $14,000.
With standard smartphones lacking the necessary security for managing cryptocurrency holdings, the Sirin Labs Solarin hit the scene to be able to fill that niche. Unfortunately, that price is just out of reach for most cryptocurrency investors. The product didn’t end up making Sirin Labs a ton of money, and they ended up laying off about two-thirds of their employees – in a pivot toward its current ventures: a Sirin Labs Phone (cheaper than the Sirin Labs Solarin) and a blockchain-enabled PC too.
That is where the Sirin Labs ICO came into the picture, so they could raise money for upcoming Finney products.
Forget the Sirin Labs Solarin. Now it’s all about the Finney.
The new Sirin Labs phone, called the Finney, is going to cost around $999 – at least that’s what the target is right now. The Finney will run the Sirin OS software system, which is basically Android. The screen will be 5.2 inches, and the phone will have 256GB of storage with 8GB of RAM.
— SIRIN LABS (@SIRINLABS) January 22, 2018
The Sirin Labs Token (SRN) will be the cryptocurrency that helps the ecosystem run, which will also include a decentralized app (dApp) store and no-fee transactions.
The phone will work as a secure cold wallet, and it even has an on and off switch that makes it its most encrypted and safe.
Meanwhile, the Finney PC will cost around $799.
After the Sirin Labs ICO, Is SRN Still a Good Investment?
We don’t see many other cryptocurrency-focused smartphones or PCs hitting the market, and certainly not anything sub-$1,000. There is a very good reason that the Sirin Labs Token is trading so high these days. They are even partnering with IOTA (MIOTA), which was announced recently.
The Sirin Labs ICO price was 0.00100 ETH, which is about $1.00 at the time of writing. Now, each token is trading at $3.05. People who invested in the Sirin Labs Token sale have basically tripled their investments – and it looks like they will keep growing.
With its tokens trading at $3.05, the entire currency is worth about $302 million. That makes it the 83rd most valuable on the worldwide market. Pretty good for just launching under a month ago, right?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.