The recent market downturn has hit the price of Bitcoin (BTC) and Ethereum (ETH) but it has also hit the dreams of big gains for many. Investors have long been promised a BTC price of $100k, or even $500k, but that has gone up in smoke. Bitcoin has suffered from recent regulatory talk and there are signs that governments and central banks will replace it with their own digital coins. Ethereum has been struggling after delays to its Merge upgrade and many investors bailed out of the project in recent weeks.
A new project has managed to outperform those two coins called Chronoly (CRNO), which produced a 560% gain in less than two months.. The project has created a digital marketplace for the buying and selling of luxury watches. This niche idea will appeal to different types of investors and the presale was snapped up by those who are eager for large gains. Analysts expect even further gains once the market becomes more aware of the project.
What’s gone wrong for Bitcoin and Ethereum?
Last year it seemed that Bitcoin was on a path to the long-touted price of $100k, but lately, it has struggled to hold $30k. Bitcoin was supported last year with a wave of corporate moves into crypto but that has waned after the recent downturn. Bitcoin has come under fire from regulators and many think that a central bank coin could oust BTC. Another headwind has been Bitcoin’s energy-intensive mining and that has also dragged on the price. The resulting volatility has meant that many investors have shied away from the coin.
Ethereum’s problems have stemmed from the fact that its long-awaited Merge update has been delayed. The update has been planned to limit the long-standing problems in Ethereum, such as high fees. Ethereum’s network can get clogged up with projects being built on top of it and that was also going to be solved by the upgrade.
Chronoly outperforms BTC and ETH with 560% gain
Chronoly is in the process of building an intuitive and noble marketplace for investment NFTs that are backed by high-end luxury watches. The investment is built on NFTs and the platform has the same traits as other trading platforms such as price alerts and limit orders. The platform allows for fractional investing to make the watch market more decentralised. The company’s whitepaper said:
“The platform enables users to borrow against their holdings and has decentralised functionality enabling users to store the NFTs on their Chronoly wallet or on any third-party ERC-20 compatible wallet.”
Also, according to its whitepaper Chronoly is planning to make it possible for their NFT holders to display their watch NFT in the metaverse. Just imagine wearing a Rolex, Patek Phillip or Richard Mille in the digital world – that’s just awesome!
Investors are growing tired of waiting for the big gains Bitcoin (BTC) and Ethereum (ETH) that were long-promised by the market ‘experts’. Chronoly’s recent performance has turned heads and investors will be looking to get involved before the mainstream market becomes aware of the project. The Chronoly CRNO token can also pay investors for waiting with the chance to stake for an annual yield and also get access to other member benefits. Some analysts have predicted a 5000% rise for Chronoly once they launch on Uniswap. Since the start of its presale the CRNO token has managed to grow 560%. This is definitely one to watch out for and we believe it will be competing with the likes of Dogecoin and Ripple sooner than you may think.
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