Since the end of the cryptocurrency Bull Run in early February, SIRIN LABS Token (SRN) has had a poor run in price till the first week of April when the token showed signs of recovery after Bitcoin’s hour of miracles. The token’s market capitalization currently stands at $143,281,454 USD with a total of 229,258,029 SRN circulating around. This places the coin at position 122 on the Coinmarketcap listing, 12 places up from a month ago.
What is SIRIN LABS?
SOLARIN, the developer of Sirin LABS blockchain, built the platform to focus on giving the user a unique, cyber-protected and secure experience on their mobile devices and PCs. The FINNEY Smartphone and the FINNEY PC devices will use the OS SIRIN which is an open source platform on SIRIN LABS. The operating system is built on competitive features that differentiate it from the rest of the blockchains.
BlockShield is built on the devices with multiple layers of protection on the system to ensure transactions are carried out in a safe and secure environment. The platform also possesses a cold wallet storage that keeps the token in an offline secure environment.
Numbers behind SRN in April
SIRIN LABS Token (SRN) currently trades at $0.5955 USD (0.00006417 BTC) as at Monday, April 30, 2018 2.54 PM. The coin has seen its price rise significantly in the last few weeks after the market rebounded earlier this month. With the coin seeing it price rise by over 145% in the last month, investors seem to have taken notice of the lowly placed token. The token has had a fair Q2 so far with 24 hour trade volumes rising above the $80 million mark for the first time since Valentine’s Day, February 14th. The token traded its highest daily volumes ever with a total of $81 million worth of SRN tokens being traded before closing on Monday.Chart showing the 3 month movement in price of SRN (Source Coinmarketcap)
The resurrection of the token urges the investors to remain hopeful as the coin aims to reclaim the $3.80 USD price it hit earlier in January. The token’s current trading price of $0.80 USD is a pale shadow of the potential the coin has in changing the whole blockchain system. The price has been fairly constant since the recent cryptocurrency bloodbath since early February through mid-March. The token rose from from an incredible high of $2.00 in late January, the token experienced a hike in price in 4 days to hit the all-time high price of $3.80.
SIRIN LABS Token (SRN) was first offered in a public sale in late December 2017 at a price of $0.47 per SRN token. The ERC 20 token had a soft cap of $25 million USD with the hard cap remaining uncapped. The coin was offered for a period of 2 weeks raising $157,885,825 USD.