SIRIN Labs Releases FINNEY Phone with $999 Price Tag
The secure hardware storage built into the phone also integrates with fast payments over the blockchain.
SIRIN Labs released the FINNEY phone, the first smartphone with built-in cold storage and a crypto wallet. The FINNEY goes on sale today, with a price tag of $999. The smartphone, presented during the European Blockchain Convention in Barcelona, has already reached early adopters.
Paradoxically, the price of SIRIN Labs Token (SRN) dropped precipitously right after the launch, and is down more than 31% in the past 24 hours, to $0.07. The token has been volatile, despite the expected launch of the unique device.
While mobile access to wallets or cryptocurrency apps is widely available, the phone has extra features to safely store private keys.
SIRIN Labs also recently urged its community to distrust any messages of an upcoming airdrop, especially any requiring the sending of SRN tokens for a reward.
SIRIN Labs is one of the most paradoxical projects in the crypto space. It has a viable product, but it’s also one of the biggest market losers in the ICO space. SIRIN Labs manager to raise the equivalent of $158 million, while the current market capitalization of the token is $37 million. The SIRIN Labs ICO ended in December 2017, near peak Ethereum prices, meaning that the ICO immediately saw its funds disappear, as ETH prices sank to $100 and below during the latest sell-off.
SRN reached a peak of $3.27 on January 24, 2018, right after the token was listed on exchanges. Unfortunately, the initial hype soon gave way to a deep crash and a constant depression of the token, with an occasional speculative pump.
The SRN token has not achieved a Binance listing so far, and the trading is a mix of Korean Won speculation on UpBit, and pairs with Bitcoin (BTC) on Bittrex. This leaves SRN vulnerable to pumps, as well as dependent on the price of BTC.
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