The markets are a truly strange beast. Most serious crypto analysts and investors will swear that, for a token to be successful, it needs a solid use-case. If you’re seeking investors for a new token, then having a plausible use-case is essential but, once the coin is up and running and out there in the market, sentiment seems to take over and it all becomes entirely unpredictable. This is illustrated by the contrasting fortunes of Stacks (STX), Filecoin (FIL) and Chronoly.io (CRNO).
Stacks (STX) is not stacking up
Stacks is a token that possesses neither a compelling use-case nor any backing by real asset value. There are many such coins and while some perform better than others, Stacks is one that appears to be struggling. Stacks does, however, come with a number of interesting features such as affording their investors the opportunity to build DApps, lock their token to receive BTC and smart contracts.
Despite that, their price is lagging and the market just seems to be less than overwhelmed. That said, the Stacks team intend to list their token on a number of popular exchanges in the hope of more widespread adoption.
Filecoin (FIL) is not filling investors with confidence right now
As use-cases go, Filecoin (FIL) has a pretty decent one and some real-world value. Filecoin is a peer-to-peer network that comes with a distributed file storage system; a sort of cloud storage facility, if you will. It allows users to rent out their unused hard disk storage space. Since there is a healthy non-crypto market in hard disk storage space, one would think that this would make Filecoin a seriously attractive proposition for investors.
Filecoin (FIL) made its debut in October 2021 at a price of $10.07 and climbed all the way up to almost $240 by April 2022 before down to just $4.79 by June 2022. Certainly, the general market conditions played a big part but the fact Filecoin (FIL) is still languishing may mean trouble ahead for this token.
Chronoly.io (CRNO) goes back to the future
Reach into your pocket and take out a bank note. Take a good look at it. It’s backed by nothing. That’s right, absolutely nothing. It’s only a medium of exchange because your government says it is. Hence, it is referred to as ‘Fiat’ currency. However, there was a time when that banknote was backed by gold.
Chronoly.io (CRNO) is bringing those old days back again. Only, instead of gold, their tokens are backed by investment-grade watches with renowned names such as Rolex, Audermars Piguet and Richard Mille. These watches can produce an annual Return on Investment which is as high as 105%. Each watch is securely stored and represented by an NFT which is then broken down into small fractions to be purchased by investors for as little as $10. As the watch grows in value, so does the value of the token.
The market is already piling love on Chronoly.io (CRNO) which has risen from $0.01 to $0.066 in the space of just 3 months while still in the pre-sale phase. People want real value and Chronoly.io (CRNO) provides it.
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Presale: https://presale.chronoly.io/register
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.
