The cryptocurrency market is trying to stage a rebound from recent weakness and investors are looking to maximize the upside with the right coins. The Chronoly.io project is an interesting prospect and offers a decentralised marketplace for asset-backed NFTs.
Investors can invest in real-world assets and the project recently saw triple-digit gains in its native tokens pre-sale. That is why investors are cashing out projects like Algorand (ALGO) and VeChain (VET) to get onboard with projects that are directly linked with the real world.
Algorand (ALGO) Loses 50% of its Value for the Month
Over the last month, Algorand’s ALGO coin has lost around 50% of its value, dropping from $0.80 to $0.28. The protracted ‘crypto winter’ has led to impatience among investors and outflows have been the dominant trend. That is starting to change now, but some of yesterday’s promising coins are being dumped. Algorand recently launched its Earn product for staking Ethereum and Algorand (ALGO). The timing is not great for the project as the Ethereum price is struggling after the delay in its blockchain upgrade.
VeChain (VET) Seeks to Woo Terra Developers
The collapse in the price of the LUNA coin and the troubles at the Terra network upended the world of DeFi. VeChain is now among those projects seeking to attract developers from troubled projects. VeChain posted a tweet indicating previous Terra developers could apply for a $30,000 grant to begin building on their chain. They may be able to get some developers to join their VeChain (VET) but that is unlikely to spur the price in the short term and investors are pulling away from DeFi projects.
Chronoly (CRNO) Grabs Investor Attention with Pre-Sale
Chronoly.io has attracted attention from investors after a quick 400% rise. A move from $0.01 to $0.05 occurred on initial sales of the CRNO token and analysts predict a bright future. The Chronoly project is undergoing its phase two pre-sale and this unique project provides asset-backed NFTs through the ability to buy and sell percentage ownership in rare and exclusive watches from world-class brands such as Rolex, and Audemars Piguet.
The opportunity is created by creating NFTs, which accompany the purchase of the actual real watches, these are then fully insured and stored in a vault.
The native currency for the Chronoly ecosystem CRNO allows further benefits to investors, such as staking for an annual yield and also the chance to enter free prize draws. Chronoly (CRNO) will be a project that appeals to young crypto enthusiasts and veteran investors. The latter will have experience in diversifying assets such as watches and art. CRNO will allow an opportunity to invest in physical assets with the benefit of a blockchain marketplace for more efficient transactions. Over 1800 different investors are currently holding CRNO tokens, and this number does not seem to stop anytime soon. The hype around the project is growing and growing, and the official Chronoly (CRNO) Telegram group has already over 2.000 members. Could this be the next 100x crypto token? Only time will tell.
More information about Chronoly Pre-Sale Here:
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
