Will Store Expansion Boost SRN Token?
One of the most successful ICO's of 2017, Sirin Labs managed to raise the equivalent of $157 M USD in just a few hours. Sirin Labs stood out in the world of ICOs because the product they planned on creating was a physical phone. While most ICOs only created a token with a specific functionality, Sirin has used the funds to develop the Finney, the world's 1st blockchain phone.
What makes the Finney unique is the fact that it offers cold storage of cryptocurrencies in a secure wallet. Other benefits include a dApp store and atomic swaps between Bitcoin, Ethereum and SRN.
Expansion & SRN Token
Over the past month Sirin Labs has been expanding its partnerships and launching stores across the globe. The latest of which has been in Singapore. They have previously launched stores in London and are also selling the Finney in Japan via Bic Camera. Their Asian expansion is not complete, however. Further expansion in Bangladesh is expected to occur in October.
The store expansion and partnerships have unfortunately not helped SRN Tokens price much. It is currently trading at $0.009, far from its $3.44 all-time-high. The decline in SRN Token's value may be linked to the decline in altcoins. There has been a sharp decline with the majority of alts from the 2017-2018 era.
The expansion of stores does show a healthy interest in the super secure Finney phone. While many rivals have arisen, such as the HTC Exodus, none seem to rival the security of the Finney yet. SRN Token holders might hope that with the sales of the Finney & expansion of stores, the SRN Token will grow. That might be true to an extent, but many other factors are at play.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado