The exchange has met with criticism, but it remains one of the hot spots for up and coming digital assets.
The Sirin Labs Token (SRN) has added another source of liquidity through the Cryptopia exchange. The New Zealand service, known for having a patchy service with wallet problems, is still an important market for many altcoins.
The Cryptopia Exchange presents Sirin Labs as aiming to become the leader in open source consumer electronics, bridging the gap between the mass market and the blockchain economy.
Recently, Sirin Labs released the features for its up and coming smartphone with built-in blockchain capabilities.
The Sirin Labs project is a relatively recent ICO, still fighting for a new stage of price discovery. The price of SRN token has been drifting sideways, but in the past months, volumes are seeing an increase as exchange listings expand. For now, the lack of a listing on Binance hampers the outreach for the asset. KuCoin trading is yet to pick up, but the recent listing is a significant milestone for the startup project.
Most of the SRN trades are happening on Bittrex and Upbit, with only small-scale activity on niche exchanges. And while Cryptopia gives additional exposure to buyers, it is not the best choice for keeping larger amounts of coins.
Despite the positive news, SRN fell by more than 6% overnight to $0.40.
The SRN digital asset comes with a warning – scammers are already targeting the project. There are the common promises for Ethereum giveaways on Twitter. But also, a scam website called Sirin Classic has been noticed:
A website called “SIRIN Classic” has been brought to our attention. This is a fake site which has taken our content.
We are not affiliated with this site or others, and you should proceed with caution when confronted by initiatives not communicated through our official channels. pic.twitter.com/53y7PAhHd3
— SIRIN LABS (@SIRINLABS) May 16, 2018
Sirin Labs urges users and supporters to only use the official social media channels, and avoid giving away private keys.
The SRN digital asset is one of the few where a real-world product is in the works, although completing the building of the Finney smartphone may take time.
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